THE METHODOLOGICAL FRAMEWORK FOR THE INVESTMENT ATTRACTIVENESS ASSESSMENT IN THE REGION ECONOMY GOVERNANCE SYSTEM
( Pp. 16-21)

The increase of the global competition, in particular for investors, the need to ensure the investment attractiveness of the Russian regions is the key to their economic growth. The paper contains a brief analytical overview of the well-known Russian national rating agencies-ASI, the NRA and Expert-RA; claims the need to develop a common methodological framework for the investment attractiveness assessment in the region economy governance system; proposes a methodological approach for quantitative assessment of the investment potential and investment risk as the components of the investment attractiveness of Russian regions. This is especially crucial for the territories sensitive to sustainable social-economic development, where the instability of economic, political and social life is a serious obstacle to attract effective investments. No doubt, The North Caucasus belongs to such regions. Objective. The need to increase the investment attractiveness of the regions for spatial development of the territories, as well as to ensure sustainable economic growth, dictates the use of a convenient tool for assessment of the investment potential and investment risks as components of the investment climate of the country and the region. A summary of the main facts of the work. The paper gives a brief analytical review of methodological approaches to assessing the investment attractiveness of the regions, including a number of the most well-known rating agencies-ASI, NRA and Expert-RA, the weaknesses of their methods. Based on the analysis of the Rosstat statistical data, and also in accordance with the selected criteria, the authors propose a methodological approach to assessing investment attractiveness on the basis of simple categories that make it possible, without a significant amount of data and complex calculations, to draw a preliminary picture of the region's investment attractiveness. Such an approach can provide potential investors (primarily foreign ones) with a simple and effective tool when making decisions on investing in projects, allowing, without significant time and money, to determine regions that are priority for themselves. The evaluation of investment potential is based on a number of relationships, in particular: Net Investment and Depreciation, Gross and Net Investment as evidence of the region's reproductive and innovative capabilities, and the use of such an indicator as the Strength of the Investment Lever (SIL). All this, according to the authors, will allow investors to participate more actively in regional investment projects, on the one hand, and on the other hand, regional authorities improve understanding of the overall picture of the investment attractiveness of their regions in order to develop the most appropriate investment policy.

Adik T.A., Kosmacheva N.M., (2018), THE METHODOLOGICAL FRAMEWORK FOR THE INVESTMENT ATTRACTIVENESS ASSESSMENT IN THE REGION ECONOMY GOVERNANCE SYSTEM. Economic Problems and Legal Practice, 5 => 16-21.

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