Article 14414

Title of the article

INVESTMENT CLIMATE AS AN ESSENTIAL CONDITION OF OIL INDUSTRY DEVELOPMENT IN RUSSIA

Authors

Budina Valentina Ivanovna, Candidate of economic sciences, professor, head of sub-department of economy, finance and management, Penza State University (40 Krasnaya street, Penza, Russia), em@pnzgu.ru
Kezhapkina Ol'ga Vladimirovna, Applicant, sub-department of economy, finance and management, Penza State University (40 Krasnaya street, Penza, Russia), freshlookinscience@mail.ru

Index UDK

330.322.012

Abstract

Background. The investment climate is a key factor determining trends in the development of investment activity in the economy as a whole, and in the oil industry in particular. In accordance with various international systems evaluations, the investment climate in Russia is recognized as a negative one that stipulates high importance of the study’s objective – to highlight the key components reducing the investment attractiveness of the country's economic subjects, to determine the feasibility of private enterprise strategy aimed at increasing its investment attractiveness.
Materials and methods. The study is based on industry statistics prepared by the State Statistics Service, the investment climate assessment methodology of the World Economic Forum, surveys and marketing studies conducted by major lending institutions in the Russian Federation, as well as publicly available oil companies’ programmes for the strategic initiatives implementation. The statistical and economic research method along with the analytical approach allowed to track the dynamics of changes in the industry under the influence of the observed improvements in the investment climate, to make predictions regarding the prospects of the investment process in the future.
Results. The article deals with the most important characteristics of the investment climate in Russia, its outlook. The authors determined its role in government investment strategy forming and its impact on investment behavior of subjects of national and foreign economies. Relations between the current situation in the Russian economy and its investment climate were analyzed. The authrors defined the ways of oil-entrprises’ self-support of the investment attractiveness, studied the experience of the largest Russian oil companies in investment attracting, as well as analyzed the government initiatives realized in the framework of the investment policy.
Conclusions. The study of the investment climate’s role in the Russian oil industry development led to a conclusion that Russian oil companies are imperative to build their own implementation of the investment policy strategy for making their own investment attractiveness by increasing transparency, publicity, credibility in transactions, improving personnel reserve under the negative investment climate, which can be affected rather by the state, than by private economic entities.

Key words

investment climate, investment appeal, investments, oil industry, investment policy.

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References

1. Shafranik Yu., Bushuev V., Saenko V., Kryukov V. Neft' Rossii [Russia’s oil]. 2010, no. 9, pp. 34–41.
2. Sadekov I. T. Izvestiya Saratovskogo universiteta. Seriya «Ekonomika. Upravlenie. Pravo» [Proceedings of Saratov University. Series “Economiy. Management. Law”]. 2013, no. 4–1, pp. 565–571.
3. Budina V. I., Ponukalina E. A. Izvestiya vysshikh uchebnykh zavedeniy. Povolzhskiy region. Obshchestvennye nauki [University proceedings. Volga region. Social sciences]. 2011, no. 4 (20), pp. 169–174.

 

Дата создания: 27.04.2015 10:45
Дата обновления: 27.04.2015 15:56