Some issues and prospects of food import substitution in regions of the Russian Federation
Importance Changes in the foreign economic situation directly influence the food supply potential and capacities of Russia. In this respect, it is timely and relevant to carry out researches that will allow enhancing food supply capacities and food import substitution. Considering limited State finance and stagflation of the national economy, it is necessary to determine the most effective areas of further spending. It gains special relevance for agricultural production as the most labor intensive industry that satisfies vital needs of population and related sectors. Objectives The research aims at identifying the most promising regions of the Russian Federation within the framework of Instruction of the RF Government of October 2, 2014 № 1948-р On Approval of the Action Plan (Road Map) to Support Import Substitution in Agriculture for 2014-2015. Methods We applied the methods of logical and comparative analysis, ranking method, generalization. In assessing the capacities for food import substitution, we use a statistical and economic analysis. The federal districts of the Russian Federation were ranked by using the ABC analysis. Results The proposed methods for assessing the extent of federal districts' contribution to the national capacities of food import substitution allow determining the leading federal districts that are capable of driving economic growth in food supply of the Russian Federation and solving the matter of food import substitution. Conclusions and Relevance The research indicates that regional import substitution is of special importance. We suggest that the State should concentrate the principle investment resources designated for agriculture in those federal districts that will be able to ensure the maximum import substitution effect. The regionalization of agricultural investment will contribute to maximizing the result and allocating financial resources throughout the area as good as possible.