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Issue № 76. October 2019

Evaluation of Regions Investment Attractiveness: What Methodology Is Best for Investors?

Marina B. Trachenko, Vladimir A. Dzhioev

Marina B. Trachenko — PhD, State University of Management, Moscow, Russian Federation.
E-mail: mb_trachenko@guu.ru

Vladimir A. Dzhioev — postgraduate student, State University of Management, Moscow, Russian Federation.
E-mail: vlad.jioev@yandex.ru

The article is devoted to the development of tools for assessing the investment attractiveness of regions. This is relevant for private investors in the context of conflicting data from different rating agencies. It is also important for the regions that are focused on economic growth and are in demand by the Governor's corps, because the proposed key performance indicators motivate governors to attract investment. The authors analyzed the methods of forming the ratings of the National rating agency, Agency for strategic initiatives, rating agencies of JSC "Expert RA" and "RIA Rating" and foreign experience in assessing the investment attractiveness of the regions of the Czech Republic, the methodological approach tested in Indonesia, the methodology used in Poland to assess the regions (voivodships) and subregions in the context of three types of business activity, as well as the approach of the European Commission, used since 2015 in the monitoring and evaluation of European cities (168 cities of thirty European countries were included in the sample in 2017), as a result of which the factors that most affect the results of the ranking of regions by investment attractiveness were identified. Approbation of the author's method of express-evaluation of investment attractiveness of regions in these eight subjects of different Federal districts (Moscow and St. Petersburg, Sverdlovsk region, Nizhny Novgorod region, Rostov region, Novosibirsk region, Primorsky Krai andStavropol Krai) showed its effectiveness. Ranking on the basis of the developed methodology and the remote rating of investment attractiveness of the regions of the National rating agency gave the same result with less complexity of calculations and full transparency of the information base of the author's express-evaluation methodology. The proven technique can be recommended for use by potential private investors, as well as to attract investors through the sites of the regions.

Keywords

Investment attractiveness of the region, investment climate, investment risk, investment attractiveness index, express-evaluation of investment attractiveness.

DOI: 10.24411/2070-1381-2019-10005

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