CONTENTS

Volume 5, 2005

Investment CLIMATE

Anna ANIKEYEVA. Urgent problems of regional investment ratings in Russia

The recent research has made more accurate the terms defining regional ratings. The procedures of calculating investment climate indices have to be perfected, as well as suggestions are to be formulated on the application of the theory of production factors and functions to evaluation of region investment characteristics.

INVESTMENT MARKET

YuriYERSHOV. Our daily gas

Today Russia is facing a crucial choice: to strengthen its fuel and power complex, making it a paramount powerful engine of the economy, or, following abundant advices, to squander it and its revenues among countless individual enterprises pouring wealth on their lobbies.

Alexandr KARPUSHIN. The world oil market prospects assessed by the OPEC and International energy agency

The key feature of the new stage of the oil market development is that the oil is no more affordable then it was before. The time when we could relay on cheap oil and still cheaper gas is bygone.

INVESTMENT TECHNOLOGIES

Oleg SUKHAREV, Sergei SHMANIOV. Investment prognostication

Investment prognostication falls in three stages: prognostication of possible investment flows, prognostication of investment demand, assessment of investment cost efficiency considering investment risks. An optimum program of investing in production.

Nicolai TERENTIEV. Some urgent issues of investment project choice

Investment project choice under limited finance conditions. Project efficiency assessment based on monetary flows discount. Non-financial criteria of project choice. Forming a portfolio of real investment projects.

Nicolai SHIN. Particular regulation of investment processes at a regional level

Eevgeni IVANOV. Assessing an investment management level by local self-government bodies

INNOVATION

Leonid RATHKEEN. Innovation and investment business as a tool against military conflicts and international terrorism

Possibility of blocking the use of innovative technologies in military conflicts and terrorist acts. Recommendations on the use and perfection of innovations preventing conflicts and terrorist acts. Geography of Russia’s cooperation with foreign countries in innovation and investment.

Nicolai SHAKHRAMANIAN. Intellectual security in Russian railway transport

An important reason for patenting major technological solutions is that investment, as a rule, comes to projects protected by patents, and as the international patents cover a number of countries, the investments multiply by many times.

Alexander DEVITAIKIN, Volemir SMOLYARENKO. «Crops» investment: financing research-intensive developments at early stages (news from the «Silicon valley»).