The role of the region's development institutions in formation of investment attractiveness factors of the subject of the Russian Federation.

Abstract

Attracting investment resources to region is one of the main challenges of economic development of the federal subjects of Russia. The paper discusses factors that form the investment attractiveness of the region, that have been grouped into two areas: factors forming the development potential of the region, and the factors that are a reflection of the investment policy of the region. In most cases the feature of investment attractiveness of the region is the potential of the region through the regulation of investment policy, in particular, the Republic of Tatarstan has that strategy. However, the example of creating investment image of the Kaluga region can be concluded that the lack of the region's competitive advantage does not mean inability to attract investors into territory – creating an enabling policy is able to compensate the low-grade potential through the implementation of regional institutions to support investment activities. The institutional component improves the transparency of the administrative process in the region and thus attracts more investment of resources into their territory