Abstract
This article presents the results of research on the impact which budget limitations and economic sanctions have had on regional investment policy External sanctions and sluggish economic growth have affected the social and economic development of the region. Relying on the results of comparative and statistical analysis, the article demonstrates the need for altering the focus of current investment policy from quantitative growth to qualitative enhancement. The article analyses a new trend in the investment policy related to import substitution and the way it is combined with the acceleration of innovative business developments in Sverdlovsk region. The findings and recommendations described in this article can be applied by public authorities of the Russian Federation, by experts in the sphere of regional investment policy and development, and by organizations specializing in investment attraction and collaboration with investors in Russian regions.
Highlights
This article presents the results of research on the impact which budget limitations and economic sanctions have had on regional investment policy External sanctions and sluggish economic growth have affected the social and economic development of the region
The article analyses a new trend in the investment policy related to import substitution and the way it is combined with the acceleration of innovative business developments in Sverdlovsk region
The findings and recommendations described in this article can be applied by public authorities of the Russian Federation, by experts in the sphere of regional investment policy and development, and by organisations specializing in investment attraction and collaboration with investors in Russian regions
Summary
This article presents the results of research on the impact which budget limitations and economic sanctions have had on regional investment policy External sanctions and sluggish economic growth have affected the social and economic development of the region. The findings and recommendations described in this article can be applied by public authorities of the Russian Federation, by experts in the sphere of regional investment policy and development, and by organisations specializing in investment attraction and collaboration with investors in Russian regions. At their current stage of economic development, Russian regions have faced serious internal and external threats, likely to cause dramatic changes in regional investment policies.
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