Theoretical Approaches to the Definition of State Investment Policy
Abstract
The article generalized the theoretical approaches to de nition of the concept of “state investment policy”. It is established that in the scienti c literature on public administration there is no single approach to understanding of this concept. The analysis of the definition of “the state investment policy” allows distinguish four approaches to understanding this category. 1) Representatives of the rst approach interpret the state investment policy as a set of measures that ensure the formation of a favorable investment climate and the business environment in the country. 2) Representatives of the second approach consider state investment policy as a system of measures for the uniform allocation of capital investments in all sectors and industries of the economy. 3) Representatives of the third approach interpret the state investment policy as a set of measures aimed at achieving the highest possible effect of the investments in any form. 4) Representatives of the fourth approach consider the state investment policy as measures to ensure favorable conditions for investment of both private business entities and the state. We propose to interpret the state investment policy as a system of measures aimed at creating a favorable investment climate and increasing the ef ciency of using budget investment resources. There are described following types of investment policy: 1) state, regional and local investment policy; 2) investment policy in various sectors of the economy; 3) investment policy aimed at attracting domestic and foreign investments; 4) system-wide and selective investment policy; 5) and active and passive investment policy. The necessity of forming an active investment policy in Ukraine for the purpose of attracting all types of investments is proved. The role of the government should be reduced not to the passive observer, but to the active participant of this process.
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