Investment and Economic Growth: the Case of the Russian Far East

A. Belousova and A. Isaev
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A. Belousova: Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences, Khabarovsk, Russia
A. Isaev: Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences, Khabarovsk, Russia

Journal of the New Economic Association, 2018, vol. 38, issue 2, 164-170

Abstract: The article describes the characteristics of investment processes in the Far East and their relationship with the dynamics of the macro-region's gross product. Trends in investment dynamics are assessed with the identification of individual periods. The time-limited effect of investment multipliers is shown in connection with the concentration of investment flows in the resource-producing sectors of the regional economy and in the sector of large national infrastructure facilities' construction. The investment function for the Far East is estimated on the basis of which it is shown that the accelerated development of the economy of the Far East (exceeding the national growth rate by about 1,5% per year) until 2025 will require an increase in the volume and rate of investment (while maintaining their structure). These amounts are not adequate to the real investment potential not only of the region and state budgets, but also of the interregional resource allocation system.

Keywords: investment; economic growth; Russian Far East; infrastructure; investment function (search for similar items in EconPapers)
JEL-codes: E22 E60 R11 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2018:i:38:p:164-170

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