Investment in the Modernization and Reconstruction of Industrial Equipment: An Evaluation of Multiplier Effects in Russia

Nina Goridko and Elena Krasina
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Nina Goridko: V. A. Trapeznikov Institute of Control Sciences RAS
Elena Krasina: V. A. Trapeznikov Institute of Control Sciences RAS

Chapter Chapter 13 in Technology and Business Strategy, 2021, pp 179-194 from Springer

Abstract: Abstract The contemporary Russian economy needs to update its production base, without which it is impossible to produce high-quality innovative products, achieve high productivity, and gain competitive advantages in global markets. However, most of the country’s manufacturing enterprises today operate on an industrial basis, and it is technical re-equipment, modernization, and the reconstruction of fixed assets that allow companies to use their resources in full using modern technologies, reducing costs while increasing profits. This chapter uses regression analysis to assess the multiplier effects in order to study the influence of external factors, such as investments in the technological transformations of Russian GDP from 2005 to 2018. The most appropriate models with significant parameters and which indicators have the greatest positive effect on economic growth are identified. The results obtained prove the effectiveness of investments in reconstruction and modernization, contributing to increases in gross output and, as a result, strengthening the national economy.

Keywords: Modernization; Innovation; Competitiveness; Investment; GDP; Correlation field; Regression models; Multiplier; Accelerator; O33 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-63974-7_13

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DOI: 10.1007/978-3-030-63974-7_13

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