Investment Potential as a Factor of Structural Changes in the Regional Economic Complex

The presented study examines the effects of investment potential on the structural modernization of regional economic systems.

Aim. The study aims to identify the mechanism behind the effects of the investment potential of Russian regions on the solution of breakthrough modernization problems in the country.

Tasks. The authors identify and describe the factors that affect the necessity of modernization in present-day Russia; assess the resource capacity for modernization, including at the regional level; assess the investment climate, potential, and attractiveness of the Leningrad region; propose directions for the implementation of structural changes in the regional economy.

Methods. This study uses the methodology of the institutional approach to examining economic phenomena and processes as well as specific methods of regional economic analysis, structural, systems, and comparative analysis, expert assessment, modeling, and forecasting.

Results. It is established that modern Russia effectively faces a pressing problem of catch-up development. The main objectives for solving this problem were outlined in the inaugural presidential decree of May 2018, launching a number of large-scale modernization projects. However, there is a lack of resources that can be leveraged by administrative means for a large-scale modernization. At the same time, a significant source of funds for the implementation of investment projects associated with modernization can be found in household savings. First and foremost, mobilization of household savings requires the implementation of regional development projects. In this regard, enhancing the investment attractiveness and investment potential of the regions becomes the primary objective of the economic policy.

Conclusions. The conducted study allows the authors to propose new directions for structural transformations of regions based on the development of their investment potential.

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