Institutional planning as an instrument of the investment climate improvement

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Journal paper

Russian Journal of Entrepreneurship *
Volume 17, Number 18 (September 2016)
* Этот журнал не выпускается в Первом экономическом издательстве

Citation:

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.

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

JEL-classification: R10, E22, O16

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