CONTENTS

Volume 1, 2003

Investment CLIMATE

Yana DERYABINA. Tools of investment management at various power levels: classification and analysis.

Investments are crucial in the process of political, economic and social reform for favorable environment of a sustained economy growth. The attracting of native and foreign investments is strongly influenced by the state investment policy.

Investment MARKET

Victor MOSKVIN. On the way to the sixth technological establishment

Though the investment projects implemented now in Russia are mainly small, the much larger ones are soon expected to emerge. It is very important to determine beforehand their strategic objectives and vectors of their development.

Andrei BLINOV. Problems of small business stagnation

There are two groups of causes hampering the small business development: 1) the cardinal ones rooted in a state economic policy, 2) the local ones (mainly organizational ). The cardinal causes , inherent to the state policy, emerge because of the original lack of a clear market relations concept. There are two possible trends of development: the regulated market and the spontaneous one.

Dmitri PLISETSKY. Investments and Russia’s economic security

The analysis of the real economy investments structure and amount from the point of view of the country economic security including the assessment of the current reproductive base and its effect on the Russian economy. Advices are given for intensification of investment and renewal of the country’s reproductive base.

Boris MELNIKOV, Valentina MARKOVSKAYA, Anastasia SHKURENKO. Investment market: the situation in January - September 2002

In the I - III quarters of 2002 investment remained at a low rate because of adverse financial conditions in the real economy sector, a high share of losing enterprises, shortage of own funds and hard ways of getting and using investment credits, scanty budget investments, particularly to manufacturing industry, a heavy tax burden, insufficient law protection of investors.

Elena ROMANOVA. Collaboration of Russia with World Bank Group

Recent positive developments in Russia, a sustained political and economic situation, the economic reform program, make the basis for more active operations of the Bank. Though the Russian government now abstains from the Bank’s credits, many long-term projects are successfully getting on.

Innovation

Gennadi ZINCHENKO. Innovation development indicators in a national economy

Necessity of forming a macro-economic policy oriented to the innovation development and transition to the sustained economic growth in Russia calls for tools of objective measuring innovation effects on production development. The benefits of institutional transformations in the economy are eventually determined not by change of the production means ownership but by the rate of economic growth (continued, the beginning in No. 12, 2002).

Reference and advice

Dialogue on energy, Russia - EU