**2. Literature review**

The role of investment as a factor of economic growth was justified by English scientist-economist Keynes [1]. He was the first who developed a macroeconomic model, which established the relationship between investment, employment, consumption and income, thereby justifying the leading role of the state in regulating the market economy in a period of instability and crises [2]. According to Keynes, the investment activity in the country is primarily determined by the expected return on investment. The growth of savings by itself has no effect on these expectations and does not automatically lead to an increase in investment. Therefore, Keynes detected the purpose of government in the impact on the change in the volume of public investment and level of the marginal profitability of capital investments. In the current context within the economic theory, it is customary to believe that a volume of budget investment has a significant impact on the growth of gross domestic product (the main gauge of economic growth at the global level). This thesis is based on the multiplier effect, which was also suggested by Keynes. This thesis is the only theoretical justification of the need of state investment in the economy [3].

At the moment, many states and regions do not have the opportunity to develop their economies through public investment. This makes it necessary to attract foreign investment. Therefore, state policy includes the goal of creating a favorable investment climate for foreign investors. The investment climate of the region is recognized by the international community as one of the main characteristics of the success of its economy development; therefore, the scientific interest in measuring the region investment appeal is constantly growing. Experts of the World Bank in the report "A Better Investment Climate for Everyone" for 2005 define investment climate as "the many location-specific factors that shape the opportunities and incentives for firms to invest productively, create jobs, and expand".

measurement and analysis of the productivity of the public and municipal administration in the new conditions. In this regard, the development of the methodology of statistical research of the strengthening investment attractiveness of the Russian region using modern regional investment policy mechanisms is deemed relevant. Attention is drawn to taking into account the regional space heterogeneity, a wide range of factors that are not always unequivocally affect investment attractiveness, occasionally forced necessity to develop dynamic models on the basis of data from short-time intervals. In this regard, methodology of statistical research of investment appeal development of the Russian region is actually represented. The purpose is a success assessment converting by means of modern investment policy mechanisms in the regions. Therefore, methodological development for realization investment appeal statistical research of the Russian regions, and its results should provide carrying out a statistical assessment complex of realization productivity of regional investment policy. This policy must be

This chapter reveals the author ideas on solving the abovementioned issues, which, in her opinion makes them relevant not only for the theory but also for the practice of statistical research of the regional investment situation, including the terms of its development prospects. The main result for statistical science is the normative model of region investment appeal to

The main results of a research of the author for economic science: (1) the method of the dynamic standard for creation of statistical model of region investment appeal is offered and

The results of the study are addressed to the Ministry of Economic Development of the Russian Federation in order to justify the amount of federal targeted investment programs

The role of investment as a factor of economic growth was justified by English scientist-economist Keynes [1]. He was the first who developed a macroeconomic model, which established the relationship between investment, employment, consumption and income, thereby justifying the leading role of the state in regulating the market economy in a period of instability and crises [2]. According to Keynes, the investment activity in the country is primarily determined by the expected return on investment. The growth of savings by itself has no effect on these expectations and does not automatically lead to an increase in investment. Therefore, Keynes detected the purpose of government in the impact on the change in the volume of public investment and level of the marginal profitability of capital investments. In the current context within the economic theory, it is customary to believe that a volume of budget investment has a significant impact on the growth of gross domestic product (the main gauge of economic growth at the global level). This thesis is based on the multiplier effect, which was also suggested by Keynes. This thesis is the only theoretical justification of the need of state

measure the productivity of the realization of regions' investment policy in Russia.

adequate to the Russian state development statistics.

50 Statistics - Growing Data Sets and Growing Demand for Statistics

(2) new factors of region investment appeal are investigated.

financing in Russian regions.

investment in the economy [3].

**2. Literature review**

Porter has proposed to understand country's competitiveness and investment appeal as the productivity of using its resources [4, 5]. According to the author, this must be taken into account when assessing the investment climate of the country and the region.

So far, the large number works of domestic and foreign scientists are devoted to investment subject and investment regional appeal. Also, a lot of reports on the carried-out practical researches and recommendations about investment policy improvement at different management levels were prepared.

The most important achievements of basic Russian researches in the field of regional economics are connected with Schools of Sciences by the academician Lvov (research of management efficiency problems) and academician Granberg (research of structural regions distinctions on formation and distribution of investment resources) [6], [29]. Methodology of statistical research of economic development asymmetry of the Russian regions developed by Burtseva [7], Zubarevich [8] and other authors. Investment appeal of regions and branches of economy was considered in works by Frenkel et al. [9].

The analysis of the works devoted to the theory of investment market and investment modeling allows to allocate two conditional research directions. The first direction includes research developing general provisions of economic theory, namely, research of economic balance and economic growth. Within the second direction, actually economical and statistical research of investment is carried out. Generalization and ordering of scientific research on various aspects of statistical measurement of regional investment appeal and development reveal existence of a whole complex of insufficiently studied problems in assessing productivity of regional investment policy realization.

We should note actual problems of statistical research of the region investment appeal: regional space heterogeneity, wide range of factors, need to use dynamic models on small time spans. To solve these problems, it is proposed to develop a normative model that allows to obtain a quantitative level of balance in the indicators relative to each other and to identify the slowing or rising indicators, which will provide an integral statistical measure of the region investment appeal.

Solving these problems will allow providing new quality of an important problem of the state strategic planning—monitoring of investment strategy and medium-term programs of social and economic development of subjects for the Russian Federation.

Methodological development offered by the author allows to overcome successfully listed problems and also develops the methodology of statistical research of regional investment appeal according to the concept of the Russian state statistics development, which makes them relevant not only for theory but also for the practice of statistical research of the investment regional situation, including in perspective of its development.

are categorized by the transitive property, and this allows to obtain always a single measure-

Statistical Research of Investment Appeal of Russian Regions

http://dx.doi.org/10.5772/intechopen.75465

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Advantages of the method over other methods of building an integrated measure, for exam-

**1.** it provides a complex convolution of directly incommensurable indicators, reflecting different aspects of the functioning of the economic system (presented in ordinal scale of

**2.** it makes possible to obtain integral evaluation, which is an integral meter, which characterize the system by studying the property as a whole taking into account the relationship of

**3.** the normative model, each figure retains its own role and there is no effect of cancelation

**4.** it has a high information capacity, which allows to obtain a dynamic integrated assessment based on a large number of indicators at a short time sample of observations, for example, only two periods to build an evaluation and three periods to sort the indicators and their

The classical concept of "*investment appeal*" means the existence of certain investment conditions that affect the investor's goals and determine its choice when considering investment objects. The efficiency of the investment policy of the region is characterized by the degree of achievement of long-term goals of its development, the reproduction of the potential of the region and the growth of the quality of life of the population. Therefore, from our point of view, region investment appeal (RIA) is a complex of natural, geographical and socioeconomic factors that determine the effectiveness of the investment policy of the region and its socioeconomic development. For the statistical research of investment appeal of Russian regions is proposed to use an integrated statistical indicator, which is based on measures that assess the "state of capacity development in the region" and the influence of the factors such as "the performance of business activities in the region" and "the performance of activities of public administration bodies in the region." **Figure 1** shows the structure of regional investment appeal. This interpretation is based on the scientific idea that the RIA is determined not only by the factors of the investment potential of the region, but also by the factors of the effectiveness of its investment policy.

Statistical estimation of the region potential is a traditional task of statistical measurement. The region potential includes components such as natural and geographical potential, property potential, financial potential, human potential and innovative potential. New for statistical measurement of its factors are "performance of government in the region" and "performance

"positive" and "negative" changes captured by different indicators;

ment result.

measurement);

phenomena within it;

**4. Research algorithm**

of business in the region."

ple, multidimensional average, are as follows:

groups (factors), its relative growth.

**4.1. Step 1: indicators of region investment appeal**

The proposed methodological developments expand the methodology of Kaplan and Norton [10]. They allow realizing the monitoring of region investment policy on the basis of an integral statistical measure of the region investment appeal. The quantitative level of the integral statistical measure is the proportion of the number of completed relationships between the growth rates of the actual indicators characterizing a particular investigated object to the number of given ratios in the normative model.
