Socio-cultural and institutional factors of the investment potential of the regions of the Russian Federation

Abstract

The article discusses the problem of sustainable development of the regional economy considering the consequences of the 2020 pandemic. The authors make an assumption about the stabilizing effect of the previously accumulated investment potential at the regional level. Regions with high investment potential have a high degree of the regional economy resilience. The object of the study was the dynamics of socio-economic indicators of investment potential in 85 constituent entities of the Russian Federation for the period from 2009 to 2018. To consider the long-term development trend of the region, institutional and sociocultural variables were added to the system of indicators of the regression model. The results of the regression analysis indicate the importance of only one of the tested institutional and social factors – the volume of issued housing mortgage loans. The affordability of housing for the region population can be an important factor in the sustainability of the regional economy and be considered as a key benchmark of the regional investment strategy.