RuEn

Journal section "Public administration"

Investment Activity in the Russian Federation: Activation Problems and Directions

Shulepov E.B., Zadumkin K.A., Rumyantsev N.M., Lukin E.V.

Volume 14, Issue 3, 2021

Shulepov Е.B., Zadumkin К.А., Rumyantsev N.М., Lukin Е.V. Investment activity in the Russian economy: activation problems and directions. Economic and Social Changes: Facts, Trends, Forecast, 2021, vol. 14, no. 3, pp. 83–98. DOI: 10.15838/esc.2021.3.75.5

DOI: 10.15838/esc.2021.3.75.5

Abstract   |   Authors   |   References
The big challenges facing Russia require ensuring high-quality economic growth which makes it necessary to search for investment resources. However, financial crises, foreign policy pressure, coupled with the export-raw materials model of the Russian economy, do not allow achieving necessary growth investment rates in fixed assets. The purpose of the research is to find and scientifically substantiate ways to enhance investment activity in the Russian Federation. For this purpose, the authors have evaluated parameters of investment activity, have analyzed the sources of financial resources for investment, and have developed specific recommendations to increase investment activity in the Russian economy. The results of the study revealed a number of problems: strengthening of sectoral and territorial disparities, growing dependence on imports of investment goods, deterioration of technological development parameters, reduction of the share of Research and Development and Research and Technological Development in GDP, and reduction of debt financing opportunities. As ways to boost investment activity, the authors propose monetary policy adjustments, expansion of fiscal and tax incentives to support investment and RTD, and development of value chains aimed at smoothing resource allocation imbalances including investment ones. The scientific novelty of the research is in development applied directions for increasing investment activity in the modern Russian economy. The methodological basis is the theory of social reproduction and national accounting. The information base of the research consists of statistical data and materials of the Federal State Statistics Service, the Unified Interdepartmental Information and Statistical Service, input-output tables, the Bank of Russia, the Higher School of Economics, normative legal acts and program documents of the Russian Federation and its entities, publications of Russian and foreign authors in various periodicals, monographs. Further scientific research will be related to the study of institutional factors of investment activity activation and forecasting the results of implementing the proposed recommendations

Keywords

economics, fiscal policy, problems, monetary policy, value chains, investments in fixed assets, activation, Research and Technological Development

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