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ИД «Финансы и кредит»






Finance and Credit

Economic and mathematical assessment of science and innovation in regions to increase their investment appeal

Vol. 29, Iss. 3, MARCH 2023

Received: 17 July 2019

Received in revised form: 1 November 2019

Accepted: 28 November 2019

Available online: 30 March 2023

Subject Heading: INVESTING

JEL Classification: G21, G33

Pages: 677–699


Svetlana D. MAKAROVA National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation

ORCID id: not available

Marina V. MARKINA National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation

ORCID id: not available

Igor' A. MAKAROV National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation

ORCID id: not available

Subject. The article reviews the socio-economic status of territorial entities in the Russian Federation to justify decisions on redistribution of financial resources by different levels of public authorities and bank management, based on the development of science and innovation in the territory.
Objectives. Our aim is to develop economic and mathematical justification for evaluation of investment in science and innovation of regions as a determinant of their attractiveness for banking organizations to provide credit resources for the tasks and powers of various levels of public authorities.
Methods. We use the method of weighted sums for solving multi-criteria optimization problems as the main approach, since the investment potential assessment includes a set of parameters, and the indicators of science and innovation development can be considered as components of integral criteria, the assessment of which is necessary to justify decision-making at the level of territorial and bank management.
Results. We present a rating of subjects of the Russian Federation enabling to assess the effectiveness of scientific and innovative activities of territories, depending on the economic and financial characteristics of the region. These characteristics have a multidirectional impact on boosting the economic development of territories, however, the optimization approach helps obtain objective assessment of these indicators and suggests a possibility of their expansion and variation to justify decisions based on the values of incentive and disincentive indicators.
Conclusions. The application of this approach is promising, as it implies a possibility to include indicators that characterize the regional socio-economic condition in the optimization model.

Keywords: region, investment attractiveness, innovation-driven growth, economic and mathematical assessment


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