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Regional Economics: Theory and Practice
 

The imperatives of investment development of Russian regions in the conditions of recession (the Chechen Republic case)

Vol. 12, Iss. 37, OCTOBER 2014

Available online: 8 October 2014

Subject Heading: INVESTING

JEL Classification: 

Pages: 29-36

Khazuev A.I. Rostov State Economic University, Rostov-on-Don, Russian Federation
hazuevai@mail.ru

The author points out that the world economy recession, the execution of infrastructure investment projects in Russia, makes the problem of search for the additional sources of financing the projects being implemented in the regions, particularly relevant. The Russian economy differentiates with respect to the regional development and launching environment. The article analyzes different tools, which facilitate the enhancing of an investment activities in the regions, it makes an evaluation of their effectiveness, identifies the promising directions of realization of structural and investment policy of the Chechen Republic aimed at stimulating the private investors and at facilitating the growth of consumer demand in the region. The author underlines that the Chechen Republic has formed an adequate regulatory framework and toolkit for promoting direct investment in the economy. The paper sums up that in the conditions of the reduction of the direct State financing, an emphasis of investment policies must be placed on the indirect mechanisms of the investment potential of the region. The paper emphasizes that in order to stimulate the reproductive possibilities of the investment process within the borders of the region, the authorities should engage the mechanisms of accumulation and effective use of the investment potential as an imperative of its economic growth in the priority areas of the business environment, which differ according to the sectoral structure. In recent times, the regional innovative modules, the territorial-production clusters, occupy the special place in the business environment. The array of these factors, as well as a range of other cause-and-effect factors initiate an in-depth study of the problem of improving the mechanism of an investment process management within the boundaries of the geographically-localized economic systems. The paper discusses the issues of an instrument software application for assessing and forecasting of the development of the quality management of investment processes in the region from the new conceptual positions, which serve as the fundamental principle. The author emphasizes that the new conceptual positions are based on the clarification of the economic content and system-forming functions in shaping the options for the structural and investment policies of the region.

Keywords: investment activities, State-run programs, project

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