Characterizing the Structural Elements of the Investment Climate

Анотація

The article analyzes the conditions for the formation of the investment climate of the State using the following system of structural elements: first, investment attractiveness as an integral characteristic of individual enterprises, industries, regions, and countries in general from the standpoint of development perspective, return on investment, and the level of investment risks; secondly, investment activity as a quantitative measure of attracting real investment in fixed assets, which is a prerequisite for economic development and is achieved through the most efficient use and growth of investment volumes in priority sectors of material production and the social sphere through the realized investment resources; thirdly, investment potential as a quantitative characteristic of investment attractiveness, which is not a simple but a certain ordered set of investment resources that allow achieving a synergy effect and obtaining the effect of interaction of various factors; fourth, investment risk as a qualitative assessment of investment attractiveness, a probable characteristic of investment loss, which depends on the political, social, economic, financial, ecological, criminal situation and legislative environment. It is noted that the quality of the investment climate of a country or business environment determines the risks and transaction costs of investing and operating a business. It is emphasized that it is very difficult to provide an accurate quantitative assessment of the investment climate, so it is usually assessed as: favorable; unfavorable; neutral. It is justified that the investment climate is formed under the influence of a set of factors that characterize the conditions of investment activity of both objective and subjective plans and determine the level of risk of investment.

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