Ensuring the effectiveness increase of regional competitiveness management based on the usage of innovation and investment activities indexes

Abstract

The research has revealed connection and the influence degree of innovative and investment activi-ties on the efficiency of competitiveness management in the region. In this article, for the first time, economic and statistical methods are used to study the interaction between innovation and investment activity and competitiveness at the regional level. The Granger test and the correlation and re-gression analysis are applied for the comprehensive study of individual and joint impact on the re-gion's competitiveness and its innovation and investment activity. The Granger test provides an op-portunity to identify cause-effect relationships between the indicators of innovation and investment activity in the region. Accordingly, pairs of indicators of innovation and investment regional activity are identified and grouped together in accordance with the presence of connection, strength and direction of impact. Correlation and regression analysis are used to determine the regional impact of innovation and investment activity and competitiveness. Accordingly, the nature, the correlation ra-tio and the degree of impact of certain innovation and investment indicators on the gross regional product are determined. A three-year forecast for regional competitiveness management is carried out on the basis of the actual data of the obtained dependency models of the indicators under study.

Keywords

• Regional competitiveness
• Competitiveness management
• Factors influencing competitiveness
• The Granger test
• Innovation and investment activity of the region
• Correlation and regression analysis