RuEn

Journal section "Sectoral economic studies"

Assessing the Impact of Innovation and Investment Activity on the Formation of an Export-Oriented Agricultural Economy

Derunova E.A., Vasilchenko M.Y., Shabanov V.L.

Volume 14, Issue 5, 2021

Derunova E.A., Vasilchenko M.Ya., Shabanov V.L. Assessing the impact of innovation and investment activity on the formation of an export-oriented agricultural economy. Economic and Social Changes: Facts, Trends, Forecast, 2021, vol. 14, no. 5, pp. 100–115. DOI: 10.15838/esc.2021.5.77.6

DOI: 10.15838/esc.2021.5.77.6

Abstract   |   Authors   |   References
The issue concerning the formation of an export-oriented agricultural economy is associated with the need to assess its innovation and investment activity and analyze the quality of state policy to stimulate innovation and high technology products in agricultural production. High differentiation of Russian regions by natural and climatic conditions and the level of resource provision are factors that hinder the formation of new export positions, which predetermines the need to improve state investment policy, considering regional differences. The purpose of this study is to identify the dependence of the export level of agricultural products on the level of innovation and investment activity, the development of recommendations to improve innovation and investment activity of territorial and sectoral agricultural systems. We put forward the following hypothesis: one of the most important factors in increasing the volume of agricultural products exports of the region is the level of innovation and investment activity. As a methodological basis we use theoretical approaches of foreign and Russian authors to assessing the impact of innovation and investment processes on the increase of export potential, as well as the formation of balanced export-oriented agricultural systems in the territorial and sectoral sections. We develop a model estimating the relationship between investment in fixed capital in agriculture, gross output of the industry, and exports of agricultural products using methods of multivariate statistical analysis. We assessed the dynamics of regional innovation and investment development and compared the selected typological groups of Russian regions by their production and export efficiency, the resources used and the results achieved. The novelty and significance of the developed model lies in the possibility of its application for diagnostics and monitoring of the state of territorial sectoral and regional innovation and investment agrosystems. For each type of region we proposed differentiated strategies of state regulation aimed at overcoming the limitations of low innovation and investment activity in the formation of export-oriented agricultural economy. The results of the study are of practical value for the development and implementation of targeted mechanisms and tools to improve the efficiency of innovation and investment activities in order to ensure the leading position of the regions in exports of agricultural products

Keywords

state support, typology of regions, modeling, export, principal components analysis, innovation and investment activity, agricultural economy, territorial and sectoral approach

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