Экономическая оценка эффективности инвестиционных проектов

Evaluation of economic efficiency of investment projects
The essence of investment projects
Investment can be defined as an increase in the stock of physical assets. In fact, the term investment as used by economists has a much stricter and more focused meaning than the more popular usage of the term (which may include such activities and events as the purchase of real estate, shares and/or bonds). In economics, the notion of (productive) investment refers to the flow of resources into the production of new (physical) capital.
First, it is a flow concept: it is measurable over a period of time and refers to changes in the level of capital stock. Secondly, it refers to physical assets (as distinct from financial assets). The economic notion of investment thus takes a variety of forms, which include the following:
• net additions to stocks (this includes changes in inventories and work in progress as that part of current output which is not consumed)
• plant and machinery (the acquisition of lathes, computers, lorries etc), which includes both replacement and additions to the capital stock
• construction (comprising houses, factories, offices, shops, storage and so forth).

LITERATURE
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