Page 45 - Theoretical and Practical Interpretation of Investment Attractiveness

amount of investment volume within the framework of investment factors of economic
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development."
In the articles in the "Expert" magazine, the concept of investment potential has been
evaluated as the quality of the investment portfolio, which includes investment objects and
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sectors, and the investment volume related to the economic situation .
E.S. Gubanov's research explains this concept as the result of using resources.
According to his opinion, the region's investment potential is the ability of the regional
economic system to fully utilize the opportunities in the investment system to achieve
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maximum positive results .
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A group of scientists defines the term "regional investment potential" as the amount
of investment directed towards the main capital, based on all internal and external sources of
funding, the main capital of the region, various economic, social, and natural resources, its
geographical location, and other aspects. They argue that although it is not entirely correct to
focus investment activities solely on the main capital, authors refer to the conditions necessary
for the existence of investment potential in the country.
Y.A. Korchangin and I.P. Malichenko, who are supporters of the resultative
interpretation, explain it as the ability of a subject to effectively use investments in
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implementing an investment project .
It is possible to classify the studies conducted on the concept of "investment potential"
into three directions: sectoral interpretation (T.S.Khachaturov, V.P.Krasovsky), resource-
related interpretation (V.V.Bocharov, F.S.Tumusov, A.M.Margolin, A.Ya.Bystriakov,
T.G.Glushkova, N.A.Novitsky, O.A.Belakov), and resultative interpretation (N.I.Klimova,
Yu.A.Doroshenko, Yu.A.Korchagin, I.P.Malichenko). Additionally, there are efforts to
combine resource and resultative interpretations (complex interpretation - E.S.Gubanova).
The concept of "investment risk" is the least studied category in investment processes
over the past 15 years. Research on the investment systems of economic systems is also very
limited.
The term "investment capacity” is used in various contexts and is often studied in
conjunction with the concept of "investment efficiency”, but it is not given much importance.
To understand the economic nature of the category "investment capacity," let's refer to
the concept of "capacity”. "Capacity is the ability to accommodate a certain volume or
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quantity of something (e.g., a wine bottle with a capacity of 0.7 liters)."
In natural sciences, "сapacity" refers to containers used for storing or transporting
liquids, gases, or similar substances.

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Klimova N.I. Investment Potential of the Region. - Yekaterinburg: Publishing House of the Ural Branch of the Russian
Academy of Sciences, 1999. - 276 p
44 Investment Rating of Russian Regions // Expert. 1997. No.47; Investment Rating of Russian Regions // Expert. - 1998.
No.39; Investment Rating of Russian Regions // Expert. 1999. No.39.
45 Gubanova E.S. Investment Activity in the Region. - Vologda: VNKC CEMI RAS, 2002. - 137 p.
46 Investment Policy for the Transition to an Innovative Economy in Russia: Collective Monograph / Ed. by N.A.
Novitsky. - Moscow: Institute of Economics of the Russian Academy of Sciences, 2005. - 421 p
47 Korchagin Yu.A., Malichenko I.P. Investments: Theory and Practice: Textbook. - Moscow: UNITY-DANA, 2008. -
453 p.
48 Wikipedia. Free Encyclopedia. http://ru.wikipedia.org/wiki/.
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