ИСТИНА

This study contains an empirical research of the institutional quality that form the investment climate in Russia’s regions. The study is based on the unique dataset collected during a series of polls and structured interviews with investors and government officials in nine Russia’s regions. Particular attention during all surveys and interviews is paid to various issues connected with introducing of the "Regional Investment Standard". The results of the study show that reduction of administrative barriers for investors is the most significant result of this reform package. However, the "Regional Investment Standard" does not have any positive impact on the level of investors' rights protection. It also does not create the necessary tax incentives for investors. Most of the reform's implementation problems are related to the lack of motivation of regional and local authorities.