Assessment of Investment Activity in the Central Federal District Regions

Relevance. Currently, the investment activity of the regions is becoming an increasingly important factor, both for the development of the region itself and the country as a whole. In the conditions of modern economic development, each region independently determines and adjusts the direction and types of investment activity, depending on individual characteristics, goals set for the short and long-term periods, and the desired results.
The purpose is analysis of the investment activity of the Central Federal District regions for the period 2016- 2018 using the developed integrated indicator of investment activity.
Objectives: the study of investment activity of regions of the Central Federal district; the study of the dynamics of investment activity in the reporting period; selection and justification of initial values to calculate the complex integral index; development of a comprehensive integrated indicator; evaluation of CFD regions using the proposed index during the period under review.
Methodology. In the process of developing this topic, the ranking method, methods of analysis, deduction, calculation of the weighted average and integral indicator were used.
Results. The study made it possible to calculate the average indicator of investment activity on the example of the regions of the Central Federal District, to rank the regions by the degree of investment activity and to clarify the direction of further movement and development.
Conclusions. The overall dynamics of a decrease in investment activity in the regions of the Central Federal District is associated with restrictions on attracting borrowed capital, a decrease in the volume of financing for investment projects, a decrease in support for small and medium-sized businesses, an increase in investment risks, a lack of resources, a difficult economic situation in the regions and the reluctance of enterprises to renovate in a modern market. After studying the data obtained, measures are proposed to increase the level of investment activity of the regions in general and the Kursk region in particular.

1. Podshivalenko G. P., Kiseleva N. V. Investitsionnaya deyatel'nost' [Investment activity]. 2th ed. Moscow, KNORUS Publ., 2006, p. 382.

2. Troshina O. V. [The dependence of the socio-economic situation of the region on its investment activity]. Evolyutsiya sovremennoi naukt. Sbornik statei Mezhdunarodnoi nauchno-prakticheskoi konferentsii [Evolution of modern science. Collection of articles of the international scientific and practical conference]. Ufa, OMEGA SCIENCES Publ., 2017, pp. 146–167. (In Russ.)

3. Kharchenko E. V. O mekhanizme upravleniya regional'noi ekonomikoi s uchetov riskov v razvitii vosproizvodstvennoi bazy regiona [On the mechanism of managing the regional economy taking into account risks in the development of the reproductive base of the region]. Sotsial'no-ekonomicheskie yavleniya i protsessy = Socio-Economic Phenomena and Processes, 2011, no. 3-4 (025-026), pp. 295-302.

4. Askinadzi V. M., Maksimova V. F. Investitsii: uchebnik dlya bakalavrov [Investments: a textbook for bachelors]. Moscow, Yurayt Publishing House, 2019. 422 p.

5. Sergeev I. V., Veretennikova I. I., Shekhovtsov V. V. Investitsii: uchebnik i praktikum dlya prikladnogo bakalavriata [Investments: textbook and workshop for applied baccalaureate]. 3th ed. Moscow, Yurayt Publishing House, 2015, pp. 234–235.

6. Krupina N. N. Investitsionnaya strategiya regiona [Investment strategy of the region]. Moscow, INFRA-M Publ., 2017. 179 p.

7. Mikhailova E. A., Orlova L. N. Ekonomicheskaya otsenka investitsii [Economic evaluation of investments]. Rybinsk, RGATA Publ., 2008. 176 p.

8. Ob investitsionnoi deyatel'nosti v Rossiiskoi Federatsii, osushchestvlyaemoi v forme kapital'nykh vlozhenii [On investment activities in the Russian Federation, carried out in the form of capital investments]. Federal Law of February 25, 1999 № 39-FZ. Available at: http://base.consultant.ru/cons/cgi/online.cgi? Base = LAW & n = 156882 & req = doc. (accessed 20.03.2021)

9. Kiseleva O. V. Analiz investitsionnoi aktivnosti rossiiskikh regionov [Analysis of investment activity of Russian regions]. Ekonomika i predprinimatel'stvo = Economics and Entrepreneurship, 2016, no. 9 (74), pp.1020-1023.

10. Kovalenko E. V., Ukrainchenko O. V. Otsenka investitsionnoi aktivnosti v Rossii [Assessment of investment activity in Russia]. Molodoi uchenyi = Young Scientist, 2019, no. 37 (275), pp. 118-120.

11. Bessonova E. A., Gubanova M. A. Problemy i puti povysheniya investitsionnoi privlekatel'nosti regiona [Problems and ways of increasing the investment attractiveness of the region]. Voprosy regional'noi ekonomiki = Regional Economic Issues, 2017, no. 30 (1), pp. 11-16.

12. Gorbach S. A., Seminog S. A. Vliyanie investitsii v osnovnoi kapital na valovoi regional'nyi produkt [The influence of investments in fixed assets on the gross regional product]. Nauchnyi rezul'tat. Ekonomicheskie issledovaniya scientific Result. Economic Research, 2019, vol. 5, no. 3, pp. 10–18.

13. Kovaleva S. I., Vorobyova Zh. B., Litvinov V. V. Mekhanizm upravleniya investitsionnym klimatom i investitsionnoi politikoi v regione [Investment climate management mechanism and investment policy in the region]. St. Petersburg, St. Petersburg State University of Aerospace Instrumentation Publ., 2016. 318 p.

14. Pogodina T. V. Problemy i perspektivy povysheniya investitsionnoi privlekatel'nosti otraslei real'nogo sektora ekonomiki Rossii [Problems and prospects of increasing the investment attractiveness of the branches of the real sector of the Russian economy]. Upravlencheskie nauki v sovremennom mire = Management Sciences in the Modern World, 2017, vol. 1, pp. 466-470.

15. Sokolov V. A. [The growth of investments in fixed assets of the region – the main factor influencing the increase in the gross regional product]. Innovatsionnaya ekonomika. Materialy II Mezhdunarodnoi nauchnoi konferentsii (g. Kazan', oktyabr' 2015) [Innovative economy. Materials of the II International Scientific Conference (Kazan, October 2015)]. Kazan, Buk Publ., 2015, pp. 7-8. (In Russ.)

16. Efimova O. V. Finansovyi analiz [Financial Analysis]. Moscow, INFRA-M Publ., 2013. 630 p.

17. Krutskikh D. B. Investitsionnaya aktivnost' regiona: ekonomicheskoe soderzhanie i mekhanizm upravleniya razvitiem. Diss. kand. econom. nauk [Investment activity of the region: economic content and development management mechanism. Cand. econom. sci. diss.]. Voronezh, 2011. 162 p.

18. Savitskaya G. V. Analiz finansovo-khozyaistvennoi deyatel'nosti [Analysis of financial and economic activities]. Moscow, INFRA-M Publ., 2013. 430 p.

19. Sheremet A. D. Teoriya ekonomicheskogo analiza [The theory of economic analysis]. Moscow, INFRA-M Publ., 2013. 417 p.

20. Federal'naya sluzhba gosudarstvennoi statistiki [Federal State Statistics Service]. Available at: http://www.gks.ru. (accessed 17.03.2021)

21. Reiting investitsionnoi aktivnosti regionov [Monitoring of investment activity of the regions]. Available at: https: //www.if24.ru/rejting-investaktivnosti-regionov-oktyabr-2018/. (accessed 10.03.2021)