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Regional Economics: Theory and Practice
 

The business climate influence on the investment climate of the Russian Federation constituent entities

Vol. 13, Iss. 34, SEPTEMBER 2015

PDF  Article PDF Version

Received: 3 June 2015

Accepted: 18 June 2015

Available online: 30 September 2015

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: 

Pages: 41-52

Voevodina O.V. Samara State Aerospace University named after academician S.P. Korolev (National Research University), Samara, Russian Federation
grad_vov@mail.ru

Subject The article considers the influence of the business climate of the subjects of the Russian Federation on their investment attractiveness.
     Objectives The paper aims to examine the hypothesis that the business environment determines the regional investment climate.
     Methods I used a comparative analysis to consider the regions' ratings in sub-national researches Doing Business in Russia and the performance of investment activities, summarizing the various efforts made to ensure a favorable investment climate in the region.
     Results The conducted analysis shows a significant difference in the levels of favorable business environment and investment activities of the Russian Federation subjects.
     Conclusions and Relevance
I conclude that the conditions of the business environment (in volume of the indicators examined in the study Doing Business in Russia) have no significant effect on investment activity and, therefore, the investment climate. When analyzing the investment climate, I recommend that special attention be given to indicators that have a direct impact on the acceptance of investment decisions, as well as to ensure an effective two-way dialogue between the business community and the administration of the regions.

Keywords: region, business climate, investment climate, investment activity, rating

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