Efficiency of instruments and institutions of promoting the investment process at the subfederal level

The requirements of the Standard of Executive Authorities of the Subject of the Russian Federation on Ensuring a Favorable Investment Climate in the Region were implemented in all regions of Russia in 2017. The Standard promotes the creation of comfortable conditions for doing business and smoothing interregional differences in the business environment. Assessment of the Standard implementation effectiveness includes an assessment of the efforts of regional authorities to improve the investment environment in the regions and an assessment of the Standard impact on investment activity in the regions. Although the investment climate has improved in the country, its interregional differentiation has been preserved. The group of the best regional management teams is defined in eight leading regions. The main problems of the Standard implementation are identified. Qualitative analysis revealed the Standard impact on investment activity in the regions. Fixed asset investment and per capita investment have a higher level in regions with a comfortable business environment.