Specialization and concentration of investments in fixed assets of enterprises: information from Russia
Keywords:
Investment, sectoral concentration, regional specialization, types of economic activity, enterprises.
Abstract
The purpose of this study was to assess the current levels of sectoral concentration and regional specialization of investments in Russia using Krugman’s Indexes of concentration and specialization. The study used data from the official statistical observation of activities of all Russian enterprises for the year 2014, representing 78 Russian regions and 14 types of economic activity. A calculated indices based sectoral and regional analysis of investments has enabled us to assess the achieved level of investment differentiation, to identify the most significant contributions to the sectoral concentration and regional specialization, as well as to perform a comparative analysis of investment flows. A high level of concentration was observed in hospitality, fishing and aquaculture sectors. The regional specialization is relatively small in Russia. These results could be of interest to entrepreneurs when choosing the type of sectors. The economic models developed in this study can be widely applied to monitor and diagnose the level of investment, as well as to transform the national policy in order to increase the return on fixed capital investment of enterprises. The methodological significance of this work consists in the development of tools describing the investment processes in Russia, as well as in the assessment of the current level of their territorial and sectoral differentiation.
Downloads
Download data is not yet available.
References
Aiginger, K. and E. Rossi-Hansberg (2006). Specialization and concentration: a note on theory and evidence. Empirical Journal of European Economics, 33(4), pp. 255-266.
Animitsa, E.G., Animitsa, P.E. and E.Y. Denisova (2014). Evolution of scientific views on the theory of productive forces. Economy of region, 2, pp. 21-32.
Belov, А.V. (2012). Considering the issues of spatial distribution of production factors in modern Russia. Spatial economy, 2, pp. 9-28.
Berezinskaya, O. (2017). Investment drought in the Russian economy: Structural characteristics and turnaround perspectives. Russian Journal of Economics, 3, pp. 71-82.
Cornett, A.P. (2002). Regional Cohesion in an Enlarged European Union: an Analysis of Interregional Specialization and Integration. In: Cuadrado-Roura J.R., Parellada M. (eds) Regional Convergence in the European Union. Springer, Berlin, pp. 147-163.
Dynamics of investment activity in the circumstances low economy of Russia № 5 on 2015 year. Electronic resource: http://ac.gov.ru/publications/ (accessed date 14 March 2019).
Ezcurra, R., Pascual, P. and M. Rapun (2006). Regional specialization in the European Union. Regional Studies, 40(6), pp. 601-616.
Ezcurra, R. and P.P. Arzoz (2007). Spatial Disparities in Productivity in Central and Eastern Europe. Eastern European Economics, 45(3), pp. 5-32.
Federal law No. 39-FZ dated 25.02.1999 “On investment activity in the Russian Federation carried out in the form of capital investments”.
Federal service of state statistic. (2016). Electronic resource: http://www.gks.ru/bgd/regl/b15_14p/Main.htm (accessed 1 June 2019).
Fujita, M., Krugman, P. and A.J. Venables (1999). The Spatial Economy. Cities, Regions and International Trade. The MIT Press, Cambridge, MA.
Goschin, Z., Constantin, D., Roman, M. and B. Ileanu (2009). Regional specialization and geographic concentration of industries in Romania. South-Eastern Europe Journal of Economics, 7(1), pp. 99-113.
Hallet, M. (2002). Regional Specialization and Concentration in the EU. In: Cuadrado-Roura J.R., Parellada M. (eds) Regional Convergence in the European Union. Springer, Berlin, pp. 53-76.
Isard, W. (1960). Methods of Regional Analysis, MIT Press, Cambridge, MA
Kazakov, А.А. (2010). The results of theoretical and empirical research in the field of economic geography and regional Economics. Vestnik NSU. Series: Socio-economic Sciences, 2, pp. 146-155.
Kiseleva, O., Lebedev, A., Pinkovetskaia, I., Rojas-Bahamón, M.J. and Arbeláez Campillo, D. (2019). Specialization and concentration of small and medium enterprises employees: Russian data. Revista Amazonia Investiga, 8(20), pp. 6-15.
Korneyko, O.V. Sankler K.V. and A.N. Nasyrov (2018). El seguro telemático como herramienta para mejorar la seguridad vial en el contexto del mercado ruso de autoaseguro. Revista Amazonia Investiga, 7(15), pp. 84-90.
Krieger-Boden, C., Morgenroth, E. and G. Petrakos (2008). The Impact of European Integration on Regional Structural Change and Cohesion. Routledge, Taylor & Francis Group, London, New York.
Krugman, P. (1991). Geography and trade. MIT Press, England, Cambridge, MA.
Kuroiwa, I. (2012). Economic Integration and the Location of Industries: The Case of Less Developed East Asian Countries, Palgrave Macmillan, London.
Lygina, N., Rudakova, O. and Y. Soboleva (2015). Investment Attraction Of Russian Regions In The Beginning Of XXI Century. Procedia Economics and Finance, 24, pp. 363-370.
Marelli, E. (2007). Specialisation and convergence of European regions. The European Journal of Comparative Economics, 4(2), pp. 149-178. Ma, M., Steinbach, S. and J. Wu (2014). A study on regional specialization of China's agricultural production: Recent trends and drivers. Asian Journal of Agriculture and Rural Development, 4(2), pp. 113-127.
Midelfart-Knarvik, K., Overman, H., Redding, S. and A. Venables (2002). Integration and Industrial Specialisation in the European Union. Revue Économique, 53(3), pp. 469-481.
Minakir, P.A. and A.N. Demianenko. (2010). Spatial economy: Evolution of approaches and methodology. Spatial economy, 2, pp. 6-32.
Moga, L.M. and V.M. Antohi. (2013). Common agricultural policy implications in the evolution of Romanian agriculture geography. Journal of Economics Studies and Research, pp. 2-11.
Mongelli, F.P., Reinhold, E. and G. Papadopoulos (2016). What’s so special about specialization in the euro area? Early evidence of changing economic structures. ECB Occasional Paper 168.
Neagu, O. and M. Neagu (2016). Regional specialization and economic concentration in Romania. Studia Universitatis “Vasile Goldis” Arad. Economics Series, 26(3/2016), pp. 1-17.
Novikov, S. V., and Prosvirina, N. V. (2019). Сlasificación de los clústers en la economía moderna de la innovación. Revista Amazonia Investiga, 8(19), pp. 620-630.
Rastvortseva, S.N., Agarkova, O.S. and A.S. Chencova (2012). Analysis of industrial concentration in the regions of Russia using the approaches of new economic geography.
Regional economy: theory and practice, 34(265), pp. 9-14.
Palan, N. (2010). Measurement of Specialization - The Choice of Indices FIW. Working Paper 62. December.
Rastvortseva, S.N. and I.T. Kuga (2012). Regional specialization and geographic concentration of industry in Russia. Bulletin of Belgorod state University, 23/1(13), pp. 37-46.
Suedekum, J. (2006). Concentration and Specialization Trends in Germany since Re-unification. Regional Studies, 40(8), pp. 861-873.
Utkin, B.E. (2016). Dynamics of investment in fixed capital in the countries of the world. Economic sciences, 1(134), pp. 14-19.
Animitsa, E.G., Animitsa, P.E. and E.Y. Denisova (2014). Evolution of scientific views on the theory of productive forces. Economy of region, 2, pp. 21-32.
Belov, А.V. (2012). Considering the issues of spatial distribution of production factors in modern Russia. Spatial economy, 2, pp. 9-28.
Berezinskaya, O. (2017). Investment drought in the Russian economy: Structural characteristics and turnaround perspectives. Russian Journal of Economics, 3, pp. 71-82.
Cornett, A.P. (2002). Regional Cohesion in an Enlarged European Union: an Analysis of Interregional Specialization and Integration. In: Cuadrado-Roura J.R., Parellada M. (eds) Regional Convergence in the European Union. Springer, Berlin, pp. 147-163.
Dynamics of investment activity in the circumstances low economy of Russia № 5 on 2015 year. Electronic resource: http://ac.gov.ru/publications/ (accessed date 14 March 2019).
Ezcurra, R., Pascual, P. and M. Rapun (2006). Regional specialization in the European Union. Regional Studies, 40(6), pp. 601-616.
Ezcurra, R. and P.P. Arzoz (2007). Spatial Disparities in Productivity in Central and Eastern Europe. Eastern European Economics, 45(3), pp. 5-32.
Federal law No. 39-FZ dated 25.02.1999 “On investment activity in the Russian Federation carried out in the form of capital investments”.
Federal service of state statistic. (2016). Electronic resource: http://www.gks.ru/bgd/regl/b15_14p/Main.htm (accessed 1 June 2019).
Fujita, M., Krugman, P. and A.J. Venables (1999). The Spatial Economy. Cities, Regions and International Trade. The MIT Press, Cambridge, MA.
Goschin, Z., Constantin, D., Roman, M. and B. Ileanu (2009). Regional specialization and geographic concentration of industries in Romania. South-Eastern Europe Journal of Economics, 7(1), pp. 99-113.
Hallet, M. (2002). Regional Specialization and Concentration in the EU. In: Cuadrado-Roura J.R., Parellada M. (eds) Regional Convergence in the European Union. Springer, Berlin, pp. 53-76.
Isard, W. (1960). Methods of Regional Analysis, MIT Press, Cambridge, MA
Kazakov, А.А. (2010). The results of theoretical and empirical research in the field of economic geography and regional Economics. Vestnik NSU. Series: Socio-economic Sciences, 2, pp. 146-155.
Kiseleva, O., Lebedev, A., Pinkovetskaia, I., Rojas-Bahamón, M.J. and Arbeláez Campillo, D. (2019). Specialization and concentration of small and medium enterprises employees: Russian data. Revista Amazonia Investiga, 8(20), pp. 6-15.
Korneyko, O.V. Sankler K.V. and A.N. Nasyrov (2018). El seguro telemático como herramienta para mejorar la seguridad vial en el contexto del mercado ruso de autoaseguro. Revista Amazonia Investiga, 7(15), pp. 84-90.
Krieger-Boden, C., Morgenroth, E. and G. Petrakos (2008). The Impact of European Integration on Regional Structural Change and Cohesion. Routledge, Taylor & Francis Group, London, New York.
Krugman, P. (1991). Geography and trade. MIT Press, England, Cambridge, MA.
Kuroiwa, I. (2012). Economic Integration and the Location of Industries: The Case of Less Developed East Asian Countries, Palgrave Macmillan, London.
Lygina, N., Rudakova, O. and Y. Soboleva (2015). Investment Attraction Of Russian Regions In The Beginning Of XXI Century. Procedia Economics and Finance, 24, pp. 363-370.
Marelli, E. (2007). Specialisation and convergence of European regions. The European Journal of Comparative Economics, 4(2), pp. 149-178. Ma, M., Steinbach, S. and J. Wu (2014). A study on regional specialization of China's agricultural production: Recent trends and drivers. Asian Journal of Agriculture and Rural Development, 4(2), pp. 113-127.
Midelfart-Knarvik, K., Overman, H., Redding, S. and A. Venables (2002). Integration and Industrial Specialisation in the European Union. Revue Économique, 53(3), pp. 469-481.
Minakir, P.A. and A.N. Demianenko. (2010). Spatial economy: Evolution of approaches and methodology. Spatial economy, 2, pp. 6-32.
Moga, L.M. and V.M. Antohi. (2013). Common agricultural policy implications in the evolution of Romanian agriculture geography. Journal of Economics Studies and Research, pp. 2-11.
Mongelli, F.P., Reinhold, E. and G. Papadopoulos (2016). What’s so special about specialization in the euro area? Early evidence of changing economic structures. ECB Occasional Paper 168.
Neagu, O. and M. Neagu (2016). Regional specialization and economic concentration in Romania. Studia Universitatis “Vasile Goldis” Arad. Economics Series, 26(3/2016), pp. 1-17.
Novikov, S. V., and Prosvirina, N. V. (2019). Сlasificación de los clústers en la economía moderna de la innovación. Revista Amazonia Investiga, 8(19), pp. 620-630.
Rastvortseva, S.N., Agarkova, O.S. and A.S. Chencova (2012). Analysis of industrial concentration in the regions of Russia using the approaches of new economic geography.
Regional economy: theory and practice, 34(265), pp. 9-14.
Palan, N. (2010). Measurement of Specialization - The Choice of Indices FIW. Working Paper 62. December.
Rastvortseva, S.N. and I.T. Kuga (2012). Regional specialization and geographic concentration of industry in Russia. Bulletin of Belgorod state University, 23/1(13), pp. 37-46.
Suedekum, J. (2006). Concentration and Specialization Trends in Germany since Re-unification. Regional Studies, 40(8), pp. 861-873.
Utkin, B.E. (2016). Dynamics of investment in fixed capital in the countries of the world. Economic sciences, 1(134), pp. 14-19.
Published
2019-08-31
How to Cite
Pinkovetskaia, I., Nuretdinova, Y., Neif, N., & Treskova, T. (2019). Specialization and concentration of investments in fixed assets of enterprises: information from Russia. Amazonia Investiga, 8(21), 52-61. Retrieved from https://www.amazoniainvestiga.info/index.php/amazonia/article/view/47
Issue
Section
Articles
.gif)
