THE IMPACT OF INVESTMENT SPILLOVER EFFECTS ON THE PROCESS OF INNOVATIVE STRUCTURAL TRANSFORMATION AND INCREASING EXPORT POTENTIAL IN REGIONAL AGRICULTURAL SYSTEMS

  • M.Ya. Vasilchenko IAgP RAS
Keywords: agricultural sector, investments, innovative structural transformation, spillover effects, export potential

Abstract

A critical analysis of the phenomenon of spillover effects, which have become widespread in the studies of foreign and domestic scientists, is presented; their specificity is concretized in comparison with externalities. Theoretical and methodological approaches to the use of spillover effects in studies of various socio-economic processes are analyzed.

The methodological provisions for the study of the influence of investment spillover effects on innovative structural transformation and increasing export potential in regional agricultural systems have been substantiated. Empirically substantiated investment spillover effects in regional agricultural systems; their systematization was carried out, specifying the types, forms and content. The conditions for achieving positive spillover effects based on improving the innovation and investment policy in the field of stimulating innovative structural transformations of the agricultural sector are characterized. The positive impact of investments in fixed assets in agriculture on the increase in exports of products of the agro-industrial complex with a high degree of processing is possible as a result of the transformation of innovation and investment policy based on the formation of a "starting" portfolio of investment projects; effective use of project financing instruments for the investment phase of projects; formation of portfolios of investment projects in the regions using the “investment standard. Investment support mechanisms should stimulate the diffusion of innovations in industries and product chains, and the use of fundamentally new forms of financing for innovative business is of no small importance: grants, international programs, fundraising, crowdsourcing, crowdfunding, ICO and venture investment. One of the ways to stimulate regional investment activity can be the provision of autonomy to the constituent entities of the Russian Federation in identifying opportunities to reduce investment barriers; the formation and provision of benefits; selection of promising areas of economic activity with the participation of foreign capital.

 The practical significance of the results of the study is the possibility of using the proposed projection algorithms to assess the effectiveness of investment in the agricultural sector for the purpose of innovative structural transformations and the formation of a competitive export sector; adjusting the mechanisms for stimulating investment activity in accordance with the priority directions of development of the agricultural sector of the country and regions.

Author Biography

M.Ya. Vasilchenko, IAgP RAS

candidate of economic sciences

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Published
2021-12-16
Section
REGIONAL PECULIARITIES OF MANAGEMENT OFTHE AGRO-FOOD COMPLEX DEVELOPMENT