Efficiency of regional export support measures and their influence on investments

Abstract

Regions are active participants of foreign economic activity, with their contribution to the total export being significant. Therefore, data analysis of the volume and structure of exports and investments is important for determining the efficiency of support measures and for elaborating a further development strategy. A review of scientific sources demonstrates the role of investment and government support in stimulating exports. This article examines the efficiency of regional export support measures and their correlation with investments. Statistical data on exports, investments, and government support measures from 2012 to 2022 is compared. The research demonstrates the performance of the Irkutsk Region Export Support Center in the following spheres: in supporting exporters in concluding export contracts, in stimulating export activities of small and medium-sized enterprises, in engaging new exporters in foreign economic activities, as well as in promoting export diversification. Data on the increase in the share of nonresource, non-energy goods in the structure of the region exports confirms the efficiency of the undertaken supporting measures. The performance of the Export Support Center indicates its increasing popularity and efficiency. Moreover, the increasing number of exporters and the volume of export contracts demonstrates the positive impact of supporting measures on the export sector development and regional economy competitiveness. After considering the three main drivers of economic performance, i.e., consumer demand, exports, and investment, it can be concluded that the regional authorities use levers of influence over the latter two factors.