Proceedings of the International conference "Economy in the modern world" (ICEMW 2018)

Current trends of investment climate impact on economic growth

Authors
Liliya Faridovna Zulfakarova, Tina Muratovna Vakhitova, Landysh Adgamovna Gadelshina, Liliya Fuatovna Garifova
Corresponding Author
Liliya Faridovna Zulfakarova
Available Online August 2018.
DOI
https://doi.org/10.2991/icemw-18.2018.73How to use a DOI?
Keywords
investment climate; economic growth; foreign investment
Abstract
The article focuses on the role of investment in justifying the prospects for economic development in the context of the transition to sustainable economic growth of the Russian economy. Without assessing the role of the investment resource, it is impossible to determine the strategies for the country's social and economic development, to develop and implement national, sectoral and regional programs. At the same time, foreign investment as an integral part of an open and effective international economic system is one of the catalysts for the growth of the economy, which is a consequence of globalization processes. In financial resources-constrained environment, the formation of a favorable investment climate, attracting investment in the country's economy as a whole has a positive impact; its rational use affects the competitiveness of domestic goods, the introduction and assimilation of new technologies, and the growth and development of production. The need for large investments in the Russian economy has been identified, which involves expanding the scope of investment activity and changing its structure in accordance with innovative priorities, without which qualitative economic growth is impossible. The Russian economy opened its domestic markets when it moved to the market economy model, but it proved to be uncompetitive that led to a further raw-material orientation of Russian exports. The rejection of the export-raw-material model is a theoretical and practical task, which requires withdrawal from the existing investment model. One should form such a model that meets the strategic tasks of the country, provides innovative development and modernization of the economy, forms a progressive type of reproduction and meets the vital needs of the Russian economic model. Active combination of innovative and investment processes can provide qualitative changes in the economy
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Volume Title
Proceedings of the International conference "Economy in the modern world" (ICEMW 2018)
Series
Advances in Economics, Business and Management Research
Publication Date
August 2018
ISBN
978-94-6252-599-3
ISSN
2352-5428
DOI
https://doi.org/10.2991/icemw-18.2018.73How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Liliya Faridovna Zulfakarova
AU  - Tina Muratovna Vakhitova
AU  - Landysh Adgamovna Gadelshina
AU  - Liliya Fuatovna Garifova
PY  - 2018/08
DA  - 2018/08
TI  - Current trends of investment climate impact on economic growth
BT  - Proceedings of the International conference "Economy in the modern world" (ICEMW 2018)
PB  - Atlantis Press
SP  - 388
EP  - 392
SN  - 2352-5428
UR  - https://doi.org/10.2991/icemw-18.2018.73
DO  - https://doi.org/10.2991/icemw-18.2018.73
ID  - Zulfakarova2018/08
ER  -