COMMODITY AND INVESTMENT EXCHANGE AS A TOOL FOR IMPROVING THE REGIONAL INVESTMENT CLIMATE

Abstract

The current unstable macro- and microeconomic situation requires state executive authorities to create and integrate fundamentally new tools for the development of the national and regional economy. The key driver of such development, according to the author, can be the improvement of various forms of support for investment processes. Purpose: creation of a new tool for supporting commodity and investment processes, ensuring the achievement of a balance of interests of all key participants in the domestic socio-economic system. Methodology: based on the analysis of the current regulatory framework and the assessment of the accumulated empirical experience of the regions in terms of supporting commodity investment projects on the example of the Orel region, the creation of a specialized commodity investment exchange is proposed. Results: the uniqueness of the exchange lies in achieving the desired balance of interests of three key participants: firstly, meeting the unified and (or), on the contrary, unique needs of end users of goods, works, services; secondly, maximizing profits for local producers and services; and thirdly, achieving sustainable socio-economic development of both individual municipalities and the region as a whole by attracting and accumulating additional financial and investment capital. At the same time, an assessment of the socio-economic efficiency of the exchange itself indicates that the average payback period for this instrument is about 3.5 years. Subsequently, the regional government will be able to direct the promising profit to the formation of new local measures to support small and medium-sized businesses. Therefore, according to the author, in practice, the creation of this exchange will significantly contribute to the acceleration of all commodity and investment processes both for a particular region and for the national economy as a whole (in the case of scaling up the practice of using this tool in other subjects of the Russian Federation).