Aleksandr M. PakhalovPublished in:
Russian Journal of Entrepreneurship
– Volume 17, Number 18 (September 2016)

JEL classification: E22, O16, R10

Keywords: institutional planning, investment attractiveness factors, investment climate, quality of institutions, regions


Share:

Abstract:

Empirical studies of the recent years testify to the fact that the investment activity in the world’s countries and regions depends not only on the basic characteristics of the territories (such as the reserves of resources and geographic location), but also on a set of factors commonly referred to as investment climate. One of the main components of the investment climate of the territory is institutional environment – a set of norms and rules of social-economic life. The article demonstrates the channels through which the institutions influence on the investment activities, lists the main types of institutions that are significant from the perspective of investments. The main stages of the institutional planning – the process of establishment and change of the institutions for the purpose of improving the investment climate – have been pointed out. For Russia this process is particularly important on the regional level.

---

References:
1. FDI recovery is unexpectedly strong, but lacks productive impact [Electronic resource] // UNCTAD. – 2016. – January 20. – № 22. – (Global Investment Trends Monitor). – Mode of access: http://unctad.org/en/PublicationsLibrary/webdiaeia2016d1_en.pdf
2. Bissoon O. Can Better Institutions Attract More Foreign Direct Investment (FDI)? Evidence from Developing Countries // International Conference on Applied Economics – ICOAE, 2011. – Nicosia, 2011. – P. 59–70.
3. Statistika vneshnego sektora [Elektronnyy resurs] // Tsentralnyy bank Rossiyskoy Federatsii. – Rezhim dostupa: http://www.cbr.ru/statistics/?PrtId=svs
4. Kurenkova A.S. Sostavlyayuschie investitsionnogo klimata i metody ego otsenki // Rossiyskoe predprinimatelstvo. – 2011. – № 6-1. – S. 32-36.
5. Reyting investitsionnoy privlekatelnosti subyektov RF distantsionnyy: Metodologiya [Elektronnyy resurs] // Natsionalnoe reytingovoe agentstvo. – Rezhim dostupa: http://www.ra-national.ru/ru/ratings/provinces?type=rating
6. Krugman P.R. First Nature, Second Nature, and Metropolitan Location: NBER Working Paper № 3740 [Electronic resource] // NBER. – 1991. – Mode of access: http://www.nber.org/papers/w3740
7. Kolomak E.A. Neravnomernoe prostranstvennoe razvitie v Rossii: obyyasneniya novoy ekonomicheskoy geografii // Voprosy ekonomiki. – 2013. – № 2. – S. 132-150.
8. Izmerenie institutov v rossiyskikh regionakh: metodologiya, istochniki dannyh, analiz / A.Yu. Baranov, E.S. Malkov, L.I. Polischuk [i dr.] // Voprosy ekonomiki. – 2015. – № 2. – S. 69-103.
9. Investment Climate Reforms: an independent evaluation of World Bank Group support to reforms of business regulations [Electronic resource] // World Bank. – 2013. – Mode of access: https://ieg.worldbankgroup.org/Data/reports/chapters/investment_climate_final.pdf
10. North D.C. Institutions, Institutional Change and Economic Performance. – New York: Cambridge University Press, 1990. – 159 p.
11. Degtyarev A.N., Malikov R.I., Grishin K.E. Institutsionalnaya konfiguratsiya regionalnoy delovoy sredy: parametry proektirovaniya // Voprosy ekonomiki. – 2014. – № 11. – S. 83-94.
12. Acemoglu D, Johnson S. Unbundling Institutions // Journal of Political Economy. – 2005. – Vol. 113. – № 5. – P. 949-995.
13. Knack S., Keefer P. Institutions, and Economic Performance: Cross-Country Tests Using Alternative Institutional Measures // Economics and Politics. – 1995. – Vol. 7. – № 3. – P. 207–227.
14. Linz S.J. Barriers to Investment by Russian Firms: Property Protection or Credit Constraints?: William Davidson Institute Working Paper № 469 [Electronic resource] // SSRN. – 2002. – Mode of access: http://dx.doi.org/10.2139/ssrn.313642
15. North D.C. Structure and Change in Economic History. – New York: Norton, 1981. – 240 p.
16. Smit U., Kholluord-Drimayer M. Analiz investitsionnogo klimata // Finansy i razvitie. – 2005. – Mart. – S. 40-43.
17. Aron J. Growth and Institutions: A Review of the Evidence // The World Bank Research Observer. – 2000. – Vol. 15. – № 1. – P. 99–135.
18. Kapelyushnikov R.I., Demina N.V. Chego opasatysya rossiyskim sobstvennikam? // EKO. – 2011. – № 6. – S. 26-45.
19. Tambovtsev V.L. Zaschita prav sobstvennosti i investitsionnyy klimat Rossii // Zhurnal novoy ekonomicheskoy assotsiatsii. – 2012. – № 1. – S. 163-165.
20. Presley J.R., Sessions J.G. Islamic Economics: the Emergence of a New Paradigm // The Economic Journal. – 1994. – Vol. 104. – № 424. – P. 584-596.
21. Tambovtsev V.L. Teoreticheskie osnovy institutsionalnogo proektirovaniya // Voprosy ekonomiki. – 1997. – № 3. – S. 82–95.
22. Goodin R.E. The Theory of Institutional Design. – Cambridge: Cambridge University Press, 1996. – 304 p.
23. World Investment Report 2015: Reforming International Investment Governance [Electronic resource] // UNCTAD. – 2015. – Mode of access: http://unctad.org/en/PublicationsLibrary/wir2015_en.pdf
24. Kikeri S., Kenyon T., Palmad V. Sovershenstvovanie investitsionnogo klimata. Uroki dlya praktikov. – M.: Vesy mir, 2007. – 136 s.
25. Zubarevich N.V. Regiony Rossii: neravenstvo, krizis, modernizatsiya. – M.: Nezavisimyy institut sotsialnoy politiki, 2010. – 160 s.
26. Vedenie biznesa v Rossii – 2012 [Elektronnyy resurs] // Doing Business. – 2012. – Rezhim dostupa: http://russian.doingbusiness.org/~/media/GIAWB/Doing%20Business/Documents/Subnational-Reports/DB12-Sub-Russia-russian.pdf
27. Russian Federation (2012) [Electronic resource] // Enterprise Surveys. – 2012. – Mode of access: http://www.enterprisesurveys.org/Data/ExploreEconomies/2012/russia
28. Improving the Investment Climate in China / D. Dollar, M. Hallward-Driemeier, A. Shi [et al.] [Electronic resource]// CiteSeerX. – 2003. – Mode of access: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.198.7434&rep=rep1&type=pdf
29. Subnational Reports [Electronic resource] // Doing Business. – 2012–2016. – Mode of access: http://www.doingbusiness.org/reports/subnational-reports
30. Klijn E.-H., Koppenjan J.F.M. Institutional Design: Changing institutional features of networks // Public Management Review. – 2006. – Vol. 8. – № 1. – P. 141-160.
31. Sayt «Regionalnyy investitsionnyy standart: vnedrenie i monitoring».