ABSTRACT
The investment policy contributes to the deteriorating conditions of the Soviet economy. An important feature of the investment process in industry is the significant and accelerating decline in the share of capital investment for expansion and, correspondingly, the growth of the share for replacement in gross capital investment. Soviet industry has achieved more in the way of quantitative results through renovation than qualitative results. The output of renovated enterprises is more likely to be improved than qualitatively new. The decline in the investment resources of the economy as a whole and the reorientation toward replacement and the development of existing facilities significantly limits the regional maneuverability of investment policy in the USSR. Economic development of Siberia at accelerated rates is not a local task but a decisive condition for supporting the economy of the entire country. Investment in industrial development of eastern regions is more and more concentrated on the primary goal—accelerating the production of raw material and energy resources.
