Comparative analysis of fixed capital investments in the regions of Russia
Análisis comparativo de las inversiones de capital fijo en las regiones de Rusia
Keywords:
investments, fixed capital, regions of Russia, cluster analysis, normal distribution functions
Abstract
The aim of the research was to assess the specific levels of fixed capital investment per capita in all regions of Russia. The research was based on official 2019 statistics on the volume of fixed capital investments in 82 regions of Russia, as well as data on the population. In the research, the analysis of clusters associated with the unification of the objects studied in relatively homogeneous groups based on the study of the values of the compared indicators was applied. The normal distribution function was used in modelling to estimate the distribution of specific values for most regions. The following results and conclusions were obtained: it has been shown that the formation of five groups is optimal. In addition, it was shown that in 2019 nine regions were characterized by an extremely high level of investment due to the tasks of their strategic development to meet federal challenges. They also identified regions with relatively low values of specific investments in fixed assets. Everything indicates that specific investment values have a significant differentiation in several regions of Russia.
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References
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KUMANEEVA, Mariia. 2020. “Structural characteristics of the Kuzbass investment process in the context of strategic management of regional development” In: Bulletin of the Belgorod University of Cooperation, Economics and Law. Vol. 6, No. 85, pp. 134-147. Available online. In: https://www.elibrary.ru/item.asp?id=44244106. Consultation date: 9/11/2021.
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ZUBOVA, Yulia; KRUGLOV, Sergei. 2020. “New approach to the formation of the rating of investment attractiveness of regions” In: Scientific review. Economic sciences. No. 1, pp. 31-36. Available online. In: https://www. elibrary.ru/item.asp?id=42756796. Consultation date: 7/09/2021.
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BASHINA, Olga; MATRAEVA, Lilia; ALYABYEVA, Anna. 2018. “Assessment of the impact of foreign direct investment on the socio-economic development of Russian regions: results of a statistical and econometric study” In: Bulletin of the Academy. No. 3, pp. 14-22. Available online. In: https://www.elibrary.ru/item.asp?id=37013683. Consultation date: 15/09/2021.
CHERNENKO, Vladimir; FEDOROV, Konstantin; FEDOROVA, Svetlana. 2020. “Investment activity: problems of growth of the national economy” In: Economic vector. Vol. 1, No. 20, pp. 87-95. Available online. In: https://www.elibrary.ru/item.asp?id=42809749. Consultation date: 15/10/2021.
EDRONOVA, Valentina; MASLAKOVA, Daria. 2019. “Aspects of own financing of investments in fixed capital by regions of Russia” In: Science and business: ways of development. Vol. 2, No. 92, pp. 275-277. Available online. In: https://www.elibrary.ru/item.asp?id=37057082. Consultation date: 15/08/2021.
EKLUND, Johan. 2013. “Theories of Investment: A Theoretical Review with Empirical Applications”. Working paper No. 2013:22, Stockholm, Available online. In: https://entreprenorskapsforum.se/wp-content/ uploads/2013/03/WP_22.pdf. Consultation date: 15/08/2021.
EUROPEAN INVESTMENT BANK. 2018. Investment Report 2018/2019: retooling Europe’s economy. European Investment Bank, Luxembourg. Available online. In: https://www.eib.org/attachments/efs/economic_ investment_report_2018_en.pdf. Consultation date: 20/08/2021.
EUSTAQUIO CASAGRANDE, Elton; VALVANO CEREZETTI, Fernando. 2014. “Investment theory and empirical approach: a discussion on difficulties” In: Latin American Journal of Management for Sustainable Development. Vol. 1, No. 1, pp. 93-103. Available online. In: https://doi. org/10.1504/LAJMSD.2014.059782. Consultation date: 15/08/2021.
FATYANOV, Aleksey. 2019. “Investments as a universal factor of socio-economic development of regions” In: Regional journal. Vol. 5, No.20, pp. 43-44. Available online. In: https://www.elibrary.ru/item.asp?id=37619608. Consultation date: 22/09/2021.
FEDERAL SERVICE OF STATE STATISTIC. 2021a. Available online. In: http:// www.gks.ru/wps/wcm/connect/rosstat/rosstatsite/main/enterprise/ reform/. Consultation date: 22/10/2021.
FEDERAL SERVICE OF STATE STATISTIC. 2021b. The population of the Russian Federation. Available online. In: https://rosstat.gov.ru/ compendium/document/13283. Consultation date: 22/10/2021.
FESER, Edward; SWEENEY, Stuart. 2000. “A Test for the Coincident Economic and Spatial Clustering of business Enterprises” In: Journal of Geographical Systems. Vol. 2, pp. 349-373. Available online. In: https:// doi.org/10.1007/PL00011462. Consultation date: 10/11/2021.
GIRAEV, Vezirhan. 2020. “Investment processes in the Russian Federation and regional financial support imbalances” In: Economy: yesterday, today, tomorrow. Vol. 10, No. 3A, pp. 10-24. Available online. In: https://www. elibrary.ru/item.asp?id=43137103. Consultation date: 10/11/2021.
GLAZYRINA, Irina; FALEYCHIK, Anrei; FALEYCHIK, Larisa. 2018. “Investments and economic development: a comparative analysis for the regions of Russia” In: Journal ZabGU. Vol. 24, No. 8, pp. 101-111. Available online. In: https://www.elibrary.ru/item.asp?id=36486944. Consultation date: 8/11/2021.
GOLUB, V; KOCHUBEY, Elena. 2020. “Analysis of investment development of the Russian Federation” In: MODERN SCIENCE. No. 4-3, pp. 59-63. Available online. In: https://www.elibrary.ru/item.asp?id=42774031. Consultation date: 13/11/2021.
GRENADEROVA, Mariya. 2019. “Economic efficiency of investments in the context of sustainable development of the regions of Russia” In: State advisor. No. 4, pp. 72-78. Available online. In: https://www.elibrary.ru/item.asp?id=41415359. Consultation date: 10/11/2021.
GRISHINA, Irina. 2020. “Forecasting the receipt of investments in the fixed capital of the regions for the period up to 2024: methods and results of the development of the territorial section of the forecast of the development of Russia” In: Regional economy. South of Russia. Vol. 8, No. 1, pp. 49-62. Available online. In: https://www.elibrary.ru/item. asp?id=42903925. Consultation date: 10/10/2021.
HOFFMAN, Andre; VALDERRAMA, Patricio. 2021. “Long-term economic growth indicators in Latin America - 1820-2016” In: Journal of Economic Reviews. Vol. 35, No. 3, pp. 833-869. Available online. In: https://doi. org/10.1111/joes. Consultation date: 10/09/2021.
IZOTOV, Dmitri. 2019. “Receipt of foreign direct investment in the Russian regions: potential and risk factors” In: Economic and social changes: facts, trends, forecast. Vol. 12, No. 2, pp. 56-72. Available online. In: https://www.elibrary.ru/item.asp?id=38029289. Consultation date: 13/11/2021.
JEHIEL, Philippe. 2018. “Investment Strategy and Selection Bias: An Equilibrium Perspective on Overoptimism” In: American Economic Review. Vol. 108, No. 6, pp. 1582-1597.
KARADZHOVA, Vera; DICHEVSKAYA, Snezhana. 2014. “Investment Activity in Small Open Economies” In: Technologies and Investments. No. 5, pp. 65-78. Available online. In: http://dx.doi.org/10.4236/ti.2014.520081. Consultation date: 12/11/2021.
KIRICHENKO, Irina; SMIRNOV, Alexandr. 2020. “Formation of a system of indicators that have a key impact on the development of investment processes (on the example of Moscow)” In: Drucker journal, Vol. 2, No. 34, pp. 346-367. Available online. In: https://www.elibrary.ru/item. asp?id=42897721. Consultation date: 10/11/2021.
KUMANEEVA, Mariia. 2020. “Structural characteristics of the Kuzbass investment process in the context of strategic management of regional development” In: Bulletin of the Belgorod University of Cooperation, Economics and Law. Vol. 6, No. 85, pp. 134-147. Available online. In: https://www.elibrary.ru/item.asp?id=44244106. Consultation date: 9/11/2021.
LAOPODIS, Nikiforos. 2021. “Understanding investment Theories and strategies” In: Taylor and Francis Routledge Group, New York. Available online. In: 10.4324/9781003027478. Consultation date: 10/11/2021.
LOPEZ, Julio; CARDIM DE CARVALHO, Fernando. 2008. “Resuming growth in Latin America: short and long term policies” In: Brazilian Journal of Political Economy. Vol. 28, No. 3 (111), pp. 392-413. Available online. In: https://doi.org/10.1590/S0101-31572008000300002. Consultation date: 8/11/2021.
PINKOVETSKAIA, Iuliia; NURETDINOVA, Yulia; NURETDINOV, Ildar; LIPATOVA, Natalia. 2021. “Mathematical modeling on the base of functions density of normal distribution” In: Revista de la Universidad
del Zulia. 3ª época. Año 12 No. 33, pp. 34-49. Available online. In: http:// dx.doi.org/10.46925//rdluz.33.04. Consultation date: 8/11/2021.
RIOJA, Felix; RIOS-AVILA, Fernando; VALEV, Neven. 2014. “The Persistent Effect of Banking Crises on Investment and the Role of Financial Markets” In: Journal of Financial Economic Policy. Vol. 6, No.1, pp. 64-77. Available online. In: https://doi.org/10.1108/JFEP-08-2013-0035. Consultation date: 8/11/2021.
SMORODINSKAYA, Nataliya; KATUKOV, Daniel. 2019. “When and why regional clusters become the basic link of the modern economy” In: Baltic region. Available online. In: https://www.elibrary.ru/item. asp?id=39289798. Consultation date: 7/11/2021.
STARKOVA, Olga. 2020. “Investment in fixed capital in the Volga Federal District” In: Economics and management: science-practice journal. Vol. 3, No. 153, pp. 102-106. Available online. In: https://www.elibrary.ru/ item.asp?id=42944873. Consultation date: 7/11/2021.
SUBKHONBERDIEV, Alisher; TITOVA, Elena; KUSTOV, Dmitri; LOBACHEVA, Natalia. 2018. “The territory of advanced development as a tool for attracting investments to the region” In: Journal VSUIT. Vol. 80, No. 4, pp. 403-407. Available online. In: https://www.elibrary.ru/ item.asp?id=37208099. Consultation date: 10/11/2021.
TEMIRBOLATOVA, Svetlana. 2020. “Regional investments and directions of investment policy” In: Business. Education. Right. Vol. 1, No. 50, pp. 235-240. Available online. In: https://www.elibrary.ru/item. asp?id=42424350. Consultation date: 7/11/2021.
ULANOVA, Olga; SOLOGUB, Natalia. 2019. “The role of investments in the development of the agro-industrial complex of Russia and the region” In: Niva Povolgie. Vol. 2, No. 51, pp. 100-108. Available online. In: https://www.elibrary.ru/item.asp?id=39040200. Consultation date: 12/11/2021.
VORGUNOVA, Viktoria; VIKHAREV, Vadim. 2018. “Analysis and forecasting of changes in the structure of investments in fixed capital in Russia” In: Journal of modern research. No. 12.17, pp. 78-85. Available online. In: https://www.elibrary.ru/item.asp?id=36872982. Consultation date: 6/11/2021.
ZABOLOTNI, Galina. 2019. “Tax regulation as an effective method of public administration for solving the problem of insufficient investment in the economy of regions” In: Azimut science research: economics and management. Vol. 8, No. 2, pp. 139-141. Available online. In: https://www.elibrary.ru/item.asp?id=38499878. Consultation date: 10/11/2021.
ZUBOVA, Yulia; KRUGLOV, Sergei. 2020. “New approach to the formation of the rating of investment attractiveness of regions” In: Scientific review. Economic sciences. No. 1, pp. 31-36. Available online. In: https://www. elibrary.ru/item.asp?id=42756796. Consultation date: 7/09/2021.
Published
2022-02-19
How to Cite
Pinkovetskaia , I. S., Komissarova, N. G., Lebedev, A. V., & Tsybina, L. V. (2022). Comparative analysis of fixed capital investments in the regions of Russia: Análisis comparativo de las inversiones de capital fijo en las regiones de Rusia. Political Questions, 40(72), 297-312. https://doi.org/10.46398/cuestpol.4072.16
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Derecho Público
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