Basic components of investment safety and their assessment

Theoretical bases of economics and management

The article is concerned with the issues of investment security assessment. Investment security is the most important type of national security, and its level is determined by the degree of providing reproductive processes in the economy as a whole, and in the sectoral and territorial context. The following components of investment safety are identified: reproductive, sectoral, innovative, quality of life and regional (territorial). The use of investment indicators as threshold values ensuring positive dynamics of depreciation of fixed assets has been substantiated.  The evaluation of the reproduction component of investment security is based on analyzing the dynamics of gross accumulation indicators and the degree of fixed assets depreciation. It is proved that the indicator of gross accumulation of fixed capital at the level of 26% should be considered as a threshold one. The analysis of the sectoral component is made on the basis of the degree of fixed asset depreciation indicators and the share of the industry in the structure of investments. As a result, the following thresholds of indicators of the branches share in the investment structure have been substantiated, with a gross accumulation of 26 % of GDP: about 5% for agriculture, 14 % for mining and manufacturing, 7 % of the total for production and distribution of electricity, gas and water. For assessing the innovative component, we have analyzed the innovative activity in different branches. The level of innovative activity is generally low, with the manufacturing industry showing the best results. In this regard, the innovative aspect of investment security can be reduced to the analysis of manufacturing industry. To assess the quality of life component of investment safety, the analysis of reproductive processes in the branches of education and health care has been carried out. The threshold values of specific weight indicators for these branches were: 1.8 % for education, 2.5% for health care. At the final stage the regional component of investment safety is considered. The analysis showed big variations of gross accumulation share indicators in the gross regional product. It is proved that threshold values of gross accumulation at the regional level are determined by the region’s specialization, and also by the level of infrastructure development.