Methodology for the assessment of investment potential and innovative attractiveness of constituent entities of the Russian Federation

The paper presents a methodology for assessing the potential and the system of indicators necessary for the description of innovation and investment potential of the regions. When forming this system of indicators the resulting indicators are also specified. The proposed evaluation of investment and innovation potential of the region includes three stages: assessment of the investment potential of the region; assessment of the innovative capacity of the region; dynamic analysis. Resulting from the application of the suggested method the value of integrated rating of investment and innovation potential of the region is more informative in the study over a long period of time in dynamics. Thus, implementing the proposed methods and based on the results conducting a profound analysis of the reasons of growth or decline in the potential of the region, the researcher can identify the factors that have a positive impact on the region’s development, as well as negative factors hindering the development of the region. Besides, the in-depth analysis of the structure of integral indicators enables to evaluate the effect of individual group factors on the final value of the investment and innovation capacity. The authors propose to use of the method of chain substitutions as an approach to the analysis of integral indicators. At the moment, the most commonly used method to analyze the innovation and investment potential of the regions is a technique developed by the rating agency “Expert RA”. The scientific importance of the proposed methodology is caused by the fact that in contrast to the approach of the rating agency “Expert RA”, the authors propose to examine not innovative factors being a part of investment potential, but the investment components as prerequisites for the formation of innovation potential of the region.