Importance The development of an effective system of management of investment activities in the region is currently gaining a strategic importance due to the structural transformations in the economy and its transition to the innovation way. Objectives The aim of the study is the identification of priority directions of investment in the economy of the region using the Republic of Mordovia case. Methods For research, we usedlogical, cause-effect, comparison, and system analyses, as well as the method of systematization, and the balance method. Results The article considers the main tasks and directions of investment policy in the innovation regional clusters, the largest investment projects of the participants. The major sectoral priorities of investment policy in the Republic of Mordovia are as follows: manufacture of electrical products, electronic, optical equipment; a wide range of cable products; transport equipment; food products. Conclusions and Relevance The conclusion is that at present, the strategic priorities in the area of improving the investment climate of the Republic of Mordovia are associated primarily with the development of innovative regional clusters, as well as the other traditional types of production in the region. The paper proves that given the socio-economic development level of the region, the determination of strategic priorities of investment policy of the Republic of Mordovia has to involve the consideration of the development of small and middle-sized businesses, service sector, social sphere, construction, tourism and environment. This will increase the investment attractiveness of the Republic and help intensify the innovation activities in the region, thus ensuring the sustainable socio-economic development.
Belomestnov V.G., Tsybikdorzhieva O.M. Formirovanie i realizatsiya gosudarstvennoi politiki privlecheniya investitsii v regionakh [The formation and implementation of State policy of investment attraction in the regions (Ulan-Ude, Russian Federation)]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2013, no. 1, pp. 132–134.
Zubkova L.D. Metody otsenki investitsionnogo klimata regiona [Methods of assessment of the investment climate of a region]. Vestnik Tyumenskogo gosudarstvennogo universiteta = Tyumen State University Herald, 2005, no. 4, pp. 15–21.
Kramin T.V., Leonov V.A., Timiryasova A.V. Investitsionnaya privlekatel'nost' regiona kak osnova razrabotki i realizatsii regional'nogo investitsionnogo proekta [Investment attractiveness of the region as a basis for the development and implementation of a regional investment project]. Vektor nauki Tol'yattinskogo gosudarstvennogo universiteta = Vector of Science of Togliatti State University, 2013, no. 2, pp. 293–300.
Makolov V.I. Investitsionnaya politika regiona v postkrizisnyi period [Investment policy of the region during the post-crisis period]. Moscow, Finansy i statistika Publ., 2006, 520 p.
Makolov V.I. Investitsionnaya politika regiona: otsenka sostoyaniya i novye zadachi [Investment policy of the region: the present state evaluation and new tasks]. Regionologiya, 2008, no. 4, pp. 145–151.
Petrov A.V. Investitsionnaya politika regiona: orientatsiya na innovatsii [Region investment policy: orientation to innovation]. Kreativnaya ekonomika = Journal of Creative Economy, 2012, no. 7, pp. 54–59.
Prokhorov A.Yu. Strategiya privlecheniya investitsii v region [The strategy of attracting investment in the region]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2012, no. 19, pp. 131–134.
Pshikanokova N.I. Regional'naya investitsionnaya politika: institutsional'no-ekonomicheskii mekhanizm strategicheskogo upravleniya [Regional investment policy: an institutional and economic mechanism of strategic management]. Vestnik Adygeiskogo gosudarstvennogo universiteta = Bulletin of AdygheState University, 2005, no. 4, pp. 35–69.
Rakhimov T.R. Sushchnost', tseli, zadachi i printsipy postroeniya organizatsionno-ekonomicheskogo i pravovogo mekhanizma formirovaniya blagopriyatnogo investitsionnogo klimata v regione [The essence, purpose, objectives, and development guidelines for the economic-organizational and legal mechanism of attractive regional investment climate formation]. Vestnik Tomskogo gosudarstvennogo universiteta = Tomsk State University Journal, 2007, no. 302, pp. 177–180.
Salimov L.N. Sushchnost' investitsionnoi aktivnosti i ee znachenie v upravlenii regional'noi ekonomikoi [The nature of investment activity and its value in management of the regional economy]. Vestnik Chelyabinskogo gosudarstvennogo universiteta = Bulletin of Chelyabinsk State University, 2009, no. 9, pp. 83–88.
Semina L.A. Investitsionnaya privlekatel'nost': teoreticheskii aspekt [Investment appeal: a theoretical aspect]. Vestnik Chelyabinskogo gosudarstvennogo universiteta = Bulletin of Chelyabinsk State University, 2010, no. 14, pp. 17–19.
Fedulova E.A., Kononova S.A. Otsenka rezul'tativnosti realizatsii regional'nykh investitsionnykh strategii na osnove sistemy sbalansirovannykh pokazatelei [Evaluation of the regional investment strategy realization based on a balanced scorecard]. Sibirskaya finansovaya shkola = Siberian Financial School, 2014, no. 4, pp. 78–84.
El'murzaeva R.A. Aktual'nye problemy sovremennoi regional'noi investitsionnoi politiki [Actual problems in modern investment policy of a region]. Vestnik Tomskogo gosudarstvennogo universiteta = Tomsk State University Journal, 2007, no. 295, pp. 212–214.
Alabugin A.A., Kochegarova L.G. Kontseptsiya i printsipy upravleniya investitsiyami v regione [The concept and principles of the regional investment management]. Izvestiya Ural'skogo gosudarstvennogo ekonomicheskogo universiteta = Izvestia of Ural State University of Economics, 2013, no. 5, pp. 87–91.
Gurkin A.V. Investitsii v razvitie regionov. Osobennosti realizatsii regional'nykh investitsionnykh programm [Investment in the development of the regions. Features of regional investment programs]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2008, no. 10-1, pp. 91–96.
Kiseleva O.V. Politika privlecheniya investitsii v region [A policy to attract investment in the region]. Regionologiya, 2013, no. 1, pp. 21–27.
Mal'chenkov E.N. Problemy i perspektivy razvitiya investitsionnoi deyatel'nosti: regional'nyi aspekt [Problems and perspectives for the development of investment activity: a regional aspect]. Regionologiya, 2011, no. 1, pp. 57–62.
Smeshko O. Upravlenie investitsiyami na urovne regiona: metody [Management of investment at the regional level: methods and principles of the organization]. RISK: Resursy, informatsiya, snabzhenie, konkurentsiya = RISC: Resources, information, supply, competition, 2014, no. 3, pp. 114–118.
Shurdumova E.G., Nagoev A.B., Pakhomov R.I. Investitsionnoe obespechenie ustoichivogo razvitiya regiona na sovremennom etape [Investment providing a sustainable development of the region at the present stage]. Fundamental'nye issledovaniya = Fundamental Research, 2014, no. 9-11, pp. 2545–2549.
Tatarkin A.I., Bimatov M.R. Otsenka investitsionnykh potrebnostei sotsial'no-ekonomicheskogo razvitiya regiona [Assessment of the investment demand with regard to regional socio-economic development]. Ekonomika regiona = The Region’s Economy, 2010, no. 2, pp. 29–33.
Amadaev A.A. Metodicheskie aspekty formirovaniya mekhanizma upravleniya investitsiyami na regional'nom urovne [Methodological aspects of formation of the mechanism of investment management at the regional level]. Ekonomika i predprinimatel'stvo = Economy and Entrepreneurship, 2014, no. 11-2, pp. 254–261.
Mel'nikov R.M. Otsenka effektivnosti i puti optimizatsii investitsionnoi politiki sub"ektov Federatsii [Evaluation of the effectiveness and the optimization ways for the investment policy of the member-States of the Federation]. Federalizm = Federalism, 2007, no. 2, pp. 47–66.
Belykh N.Yu. Rol' investitsionnykh strategii v povyshenii investitsionnoi privlekatel'nosti regiona [The role of investment strategies in rising the region's investment opportunities]. Innovatsii = Innovation, 2009, no. 2, pp. 47–49.
