Investment Rating for Russia`s Regions, 2003-2004

National rating agency Expert RA has completed the ninth annual rating of the investment climate in Russia’s regions

Investment paradox
There has appeared a phenomenon of risk division in Russia: investment risks are being transferred from the federal level to the regional one

Table 1. Basic Parameters of Investment Development in Russia in 1999-2003.
Chart 1. Basic Parameters of Investment Development in Russia in 1999-2003.
Chart 2. Investment share in GDP of Russia
Chart 3. Social results of investment development in Russia in 1999-2003
Chart 4. Comparative investment attractiveness of Russia and the Subjects of the Federation

Manoeuvres on the legislative field
Lawmaking is the quickest and most effective way to improve investment climate in a region

Chart 5. Expert weights of potential and risk factors

Main Results of the Rating
For the first time there turned out to be no region with minimal investment risk in Russia. Nevertheless, the leading subjects of the federation do have a mechanism of low investment risks reproduction

Table 2. Rating: Russian Regions Divided by Investment Climate Rating in 2003-2004
Chart 6. Rating: Investment climate of Russian regions in 2003-04
Chart 7. Distribution of Russian regions according to investment risk and potential
Map. Investment risk in Russian regions in 2003-2004
Table 3. Investment Risk in Russian Regions in 2003-2004
Table 4. Regions with the least integral investment risks
Table 5. Investment potential of Russian regions in 2003-2004
Table 6. Regions with greatest number of accidents
Table 7. Regions with the poorest population
Table 8. Regions with the most and least "investment active" authorities
Chart 8. Regions leading in total volume of investments per one official
Chart 9. Direct foreign investments attraction per one official in 1999-2003

Candidates to appointees
The results of elections held in 2003-2004 confirmed our forecast made two years ago. Achievements in forming investment climate predetermine chances to succeed with the electorate

Table 9. Forecast of the probability of reelection and results of electing heads of executive authorities of the Subjects of the Federation in 2003-2004
Table 10. Heads of the regional executive authorities, who created most favorable investment conditions during their governing
Table 11. Heads of the regional executive authorities, who managed to achieve the best rates of investment risk reduction during their governing
Chart 10. Results of the activity and probable political prospects of the current governors od the Subjects of the Federation

Information and methods

Table 12. Regions with the best provision with cellular communication
Table 13. Regions with the best Internet penetration