Considering that a subject of this research is the investment attractiveness of the
region whereas an object — its economic and social situation, development of the
regional index of investment attractiveness is rather difficult theoretical task, is defined
including: 1) complexity of allocation of purely regional component of investment
attractiveness (that is the differentiation of a regional component and nationwide); 2) a
combination problem in one indicator of data of quantitative and qualitative statistics;
3) complexity of combination in one indicator of assessment of factors of universal
character with assessment specific (for specific industries) factors and so forth.
Proceeding from the fact that the investment attractiveness of the region as an
economic phenomenon, is formed under the influence of the whole set of factors there
is a need of the complex analysis of their action and extent of influence on decision-
making by investors. That is why using creation of the index it is necessary to consider
a number of important points: 1) the system of the evaluated factors should be such
which not so much influence the economic environment of the region how many
influence making decision by the investor on an investment of financial and other
resources in this territory; 2) differentiation of the factors having nation-wide influence
(the tax law, customs regulation) and such which influence is limited to the certain
region (the level of development of a human capital, transport network); 3) the
statistical indicators which are a part of the index is important should be reliable as it
is possible is more complete describing the phenomenon or process, to have accurate
interpretation.
As it was noted earlier, the investment attractiveness of the region (area) is defined
by set of factors, by a criterion of immutability / working in shifts in time divide into
two big groups:
tough factor — an almost unchangeable factor that significantly characterizes the
available regional potential and is basis of forecasting of sales terms of investment
projects in the average and long term;
soft factor — variable factors which cause perception by investors of the economic
environment can create development obstacles to investment processes and can be
quantitatively evaluated by means of methods of qualitative statistics (through
estimates and expectations of the economic agents making investment decisions).
Research is executed by an Institute of economic research and political
consultations show that by the index of investment attractiveness by administrative
areas of the Black Sea region (1.459) Odesa region wins first place in regional rating
(the third place in national rating) whereas the Mykolaiv and Kherson regions take the
16 and 24 place with the index at the level of 1.329 and 1.264 respectively.
Considering gradation of factors by criterion of invariance / working in shifts in
time, in the rating of regions Odesa region treats territories with the high rating of
investment attractiveness for investors — the third the place by tough and the fifth —
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