INFLUENCE OF TRANSFORMATIONS OF PROPERTY RELATIONS ON THE INVESTMENT PROCESS IN RUSSIAN FEDERATION

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Yu. V. Matveev, Doctor of Economics, Professor, Samara State University of Economics,
141 Sovetskoi Armii st., Samara, 443090, Russian Federation
e-mail: Matveev_yv@gmail.com
I. A. Lunin,
Senior Lecturer, Department of Institutional Economics and Economic History,
Samara State University of Economics, 141 Sovetskoi Armii st., Samara, 443090, Russian Federation
e-mail: Luninia0576@gmail.com
A. V. Snarskaya,
graduate student, Samara State University of Economics,
141 Sovetskoi Armii st., Samara, 443090, Russian Federation
e-mail: nastya2n2.91@mail.ru
T. E. Stepanova,
Doctor of Economics, Professor, Head. Department of Agricultural Economics and Fisheries,
Kaliningrad State Technical University, 1 Sovetsky av., Kaliningrad, 236022, Russian Federation ORCID ID: https://orcid.org/0000-0002-7530-9059
SPIN-код: 2910-6272
e-mail: tatyana.stepanova@klgtu.ru

INFLUENCE OF TRANSFORMATIONS OF PROPERTY RELATIONS ON THE INVESTMENT PROCESS IN RUSSIAN FEDERATION

Introduction. The article examines the impact of property relations transformations that have a di- rect impact on the volume of attracted investments during the implementation of the investment process at various levels of management.

Materials and methods. The research is based on the methods of institutional economic theory, sta- tistical analysis and synthesis. The institutional approach allows a comprehensive study of the imperfection of the means of the realization of private property for individual economic entities.

Results. There was revealed excessive interference of the state in determining the scope of rights of private economic entities, which gives rise to selectivity in the exercise of property rights. This fact contra- dicts the principles of a market economy. In the process of implementing reproduction relations, one of the main features of property is revealed as an increase in the owner’s capital. Authors in the course of the study revealed the features of the functioning of the institution of property and the influence it exerts on the investment process in the modern Russian economy.

Conclusions. The authors of the article theoretically substantiated the dependence of the existing in- stitution of private property on the previously existing command and administrative institution of state property. This circumstance determines the significant role of the state in the processes of specification and regulation of property rights. The present-day existing private institute system maintains a significant state influence on the processes of its functioning, which creates a situation of uncertainty regarding future re- sults. Uncertainty of private property results negatively affect investment processes. The significant role of the state in the processes of establishing private property can be determined by a whole complex of factors and conditions, some of which are the consequences of the functioning of private property. This circum- stance largely determines the role of the state in establishing property rights in developed economies.

Keywords: property, relations of property, institutional changes, investment process, the realization of property rights.

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