AN ECONOMIC AND MATHEMATICAL MODEL FOR THE INTEGRAL ASSESSMENT OF INVESTMENT SUSTAINABILITY IN THE REGIONS OF THE RUSSIAN FEDERATION
Lelya G. Pashtova1,2, Aziza M. Tramova1,2, Irina K. Stepanyan2
1Plekhanov Russian University of Economics, Moscow, Russian Federation
2Financial University under the Government of the Russian Federation, Moscow, Russian Federation
Keywords: investment sustainability of regions, economic and mathematical modeling, integral index, regional economy, investment potential
Abstract
The relevance of developing formalized tools for assessing investment sustainability is driven by the increasing spatial differentiation of socio-economic development in the Russian Federation and the growing role of investment policy in ensuring long-term economic growth. Traditional rating methodologies used to compare the investment attractiveness of territories typically rely on the aggregation of a limited set of statistical indicators and do not allow for the identification of stable structural patterns in the formation of the investment potential of regional economies. The methodological foundation of the research is based on the application of multivariate statistical analysis methods, indicator normalization, and matrix procedures for aggregating regional data. The aim of the research is to formalize an integral index of investment sustainability as a function of a normalized vector of regional indicators and a system of weighting coefficients reflecting the relative significance of investment strategy factors. The results of the research: the constructed model accounts for key components of the regional investment environment, including investment potential, institutional conditions, infrastructure endowment, and the level of investment risks. To determine the structure of weighting coefficients, the use of principal component methods and entropy criteria for the informational significance of indicators is proposed, which ensures the statistical validity of the integral assessment. Practical significance: the presented model can consider the investment space of a regional economy as a multidimensional system of interrelated parameters, in which the sustainability of investment development is determined by the structure of statistical relationships between key socio-economic characteristics of the regions.
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