Models of regional development in the Russian Federation and investment strategies

Introduction. The article is of relevance due to the need to develop models of regional development within the diversity of socio-economic, natural and geographical conditions of the constituent entities of the Russian Federation. The purpose of the paper is to review the problems and risks standing in the way of the development and implementation of the up-to-date strategy of regional development as well as to identify the models of development of the constituent entities, based on an analysis of a certain system of factors. Materials and Methods. The methods of factor and systemic analysis of socio-economic, geographical and natural indicators were employed; content analysis was performed and an overview of the strengths and weaknesses of the country's regions was given. Results. An analysis of socio-economic indicators and of the dynamics of the development of the constituent entities of the Russian Federation has been performed as well as that of their natural and geographical conditions. A typology of regions has been developed, which includes eight classifications taking into account their strengths and weaknesses, geographical location and resources available. The reasons for the lack of an up-to-date model of development of the constituent entities of the Russian Federation and the risks associated with the adoption of this strategy have been identified. Discussion and Conclusion. Due to the rather high difference between the regions in economic, social, natural and geographical conditions, it is necessary to take into account the identified features when devising a regional development strategy. This approach can make the best possible use of the competitive advantages of each of the constituent entities of the Russian Federation; it can help form a competent system of intra-regional relations and reduce the proportion of wrong decisions, measures and policies for regional development.