Investment Policy of a Region in the Conditions of the Budgetary Restrictions and Economic Sanctions

Authors

  • Elena Semyonovna Avramenko Ural Federal University
  • Semyon Vasilyevich Vlasov Ural Federal University; Administration of the Governor of Sverdlovsk Region
  • Sergey Aleksandrovich Lukyanov Ural Federal University; Saint-Petersburg State University
  • Irina Mikhaylovna Temkina Ural Federal University

DOI:

https://doi.org/10.17059/2015-1-18

Keywords:

global situation, sanctions, investment policy of regions, braking mechanism of economic growth, budgetary restrictions, import substitution, the middle Ural

Abstract

The article is devoted to the assessment of influence of budgetary restrictions and economic sanctions on investment policy of a region. The paper studies the bilateral negative effect on socio-economic development of regions from both the external sanctions and braking mechanism of economic development within the country. On the basis of the comparative and statistical analysis, the need to change focus of investment policy from the growth in volumes to qualitative perfecting is proved. The new direction of investment policy connected with the import substitution process realization, its combination with acceleration of innovative development on the certain example of Sverdlovsk region is analyzed. The conclusions and offers stated in the article are applicable to the public authorities of subjects of the Russian Federation, experts in the sphere of regional investment policy and improvement of investment climate, and also the specialized organizations specialized in attracting investment and work with investors in regions of Russia.

Author Biographies

Elena Semyonovna Avramenko, Ural Federal University

PhD in Economics, Deputy Vice-Rector for Academic Affairs, Associate Professor at the Chair of International Economics, the Ural Federal University named after the first President of Russia B.N.Yeltsin (19, Mira St., Yekaterinburg, 620000, Russia).

Semyon Vasilyevich Vlasov, Ural Federal University; Administration of the Governor of Sverdlovsk Region

PhD Applicant, Chair of Financial Management, the Ural Federal University named after the first President of Russia B.N.Yeltsin, Deputy Chief of Experts Directorate of Expert and Analytical Department, Administration of the Governor of Sverdlovsk Region ( 21/23 Gorkogo St., Yekaterinburg, 620075, Russia, e-mail: vlasovsv81@gmail.com).

Sergey Aleksandrovich Lukyanov, Ural Federal University; Saint-Petersburg State University

Doctor of Economics, Professor, Head of the Chair of International Economics, (51, Lenina Av., Yekaterinburg, 620083, Russia), Professor at the Chair of World Economy, Saint Petersburg State University (62, Chaykovskogo St., Saint Petersburg, 191123, Russia, e-mail: s.lukyanov@mail.ru).

Irina Mikhaylovna Temkina, Ural Federal University

PhD in Economics, Professor at the Chair of Financial Management, the Ural Federal University named after the first President of Russia B. N. Yeltsin (2-7, Sverdlova St., Yekaterinburg, 620027, Russia).

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Published

26.03.2015

How to Cite

Avramenko, E. S., Vlasov, S. V., Lukyanov, S. A., & Temkina, I. M. (2015). Investment Policy of a Region in the Conditions of the Budgetary Restrictions and Economic Sanctions. Economy of Regions, 11(1), 213–223. https://doi.org/10.17059/2015-1-18

Issue

Vol. 11 No. 1 (2015)

Section

Research articles

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Copyright (c) 2015 E.S. Avramenko, S.V. Vlasov, S.A. Lukyanov, I.M. Temkina

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This work is licensed under a Creative Commons Attribution 4.0 International License.