State Incentivization of Investment Activity in a Resource Region
Far Eastern Version
Bibliographic Data
| ID | 21218896 |
|---|---|
| Authors | Natalia Lomakina (0000-0003-3490-5775, Far Eastern Branch of the Russian Academy of Sciences, corresponding author), N V Lomakina |
| Year | 2021 |
| Volume | 11 |
| Issue | 4 |
| Pages | 638-647 |
| Publication date | 2021-10-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Regional Research of Russia (JOURNAL) |
| Journal identifiers | ISSN: 2079-9713 • E-ISSN: 2079-9705 |
| Publisher | Pleiades Publishing Ltd (PUBLISHER) |
| DOI | 10.1134/s2079970521040110 |
| OpenAlex | W4200419832 |
| Language | EN |
| Citations received | 1 |
| References cited | 8 |
The practice and emerging results of state investment activity incentivization tools within the framework of the “new model” of Russian Far East development have been investigated. The article demonstrates the peculiarities of implementing investment localization tools in a resource region (preferential regimes of priority development areas) and extraterritorial preferences like direct subsidies from the federal budget to infrastructure facilities of investment projects and regional investment projects of strategic importance. The results of implementing these tools in the Far Eastern Federal District in 2014–2020 demonstrate that the package of state measures to attract investment and its individual elements (mineral extraction tax incentives, criterion for maximizing private investment per budget ruble, etc.) stimulated predominance of investment in mineral extraction in their total volume for all considered support tools. The result of these preferences was further growth of raw materials industries in the structure of the Far Eastern economy (which, to a certain extent, projects the promising structure of the macroregion’s economy). Analysis of the accumulation rate (share of investment in GRP) as a factor of economic growth showed that in most Far Eastern federal subjects (except for the monospecialized raw material Sakhalin and Magadan oblasts and the Chukotka Autonomous Okrug), the role of raw materials industries as key drivers of economic growth has not been confirmed, which would justify the use of state preferences in resource extraction. Certain modifications were also identified in the state incentive tools themselves, implemented within the framework of the “new model” of development in the Far East, including: “erosion” of the boundaries of preferential territories to legitimize benefits for raw material companies; a change (decrease) in the role of regional authorities in implementing certain tools; the formation of “multilayer” benefits in the interests of resource companies. It is shown that in the studied contour of interactions of key actors in implementing individual tools of the new model of Far Eastern development (federal and regional authorities, business), a tendency towards the main results of preferences being formed in resource companies is increasingly observed
Business · Economics · Incentive · Industrial organization · Market economy · Natural resource economics · Political science · Raw material · Subsidy · Arctic and Russian Policy Studies · Computer Science · Engineering and Environmental Studies · Regional Economic Development and Innovation
| Citations per year | 1 |
|---|---|
| Citation span | 2025 - 2025 (1) |
| Highly cited | No |