Abstract: The subject of the article is the multiplier effects generated by investments in the formation of a region resource potential. The purpose of the study is to determine the possibility of managing the value of the regional investment multiplier to increase the efficiency of investments in the formation of a regional economy resource potential. The work determines that the sanctions pressure on the Russian economy is largely aimed at reducing the efficiency of its activities. Consequently, increasing the efficiency of investments by influencing the value of the multiplier will be aimed, among other things, at counteracting the sanctions pressure. To solve this problem, the article examines the influence of the structure of the regional economy on the value of the regional investment multiplier. The study is conducted on the basis of data characterizing the structure and multiplier effects of the Ryazan region economy. The research method is econometric modeling, construction of multiple regression. The scientific novelty of the work is that the modeling carried out within its framework allowed to determine for specific types of products produced in the economy of the Ryazan region their impact on the value of the Ryazan investment multiplier. The presented calculations prove the possibility of balancing the negative impact of some investments on the value of the regional multiplier with other investments with a positive impact on the value of this indicator. This proves the possibility of managing the value of the regional investment multiplier by changing the structure of investments in the formation of the resource potential of the regional economy. The paper proposes to make this approach the basis for the formation of policy for the development of the Russian regions economy, based on changing the structure of investments depending on their impact on the size of the regional multiplier.

Abstract: The subject of this research is the risks generated by multiplicative processes that accompany private and public investment projects in the sphere of ensuring economic security of the country. The author examines the inflationary component of multiplicative processes, which can cause rise in the cost of the investment projects implemented in the sphere of economic security, up to their cancellation. Particular attention is given to multiplicative transfer of income gains from purposefully developed industries to adjacent or loosely related industries. Such a transfer boost the competition for resources between the industries and complicates the implementation of projects in the sphere of ensuring economic security. The following conclusions were made:
 
- The structure of the process of interaction between the investment multiplier and investment accelerator is self-similar, which simplifies its modeling;
 
- Multiplicative processes may generate risks in sphere of ensuring economic security of the country;
 
- In order to substantiate the need for implementing large investment projects, the consideration of generated multiplicative processes is required;
 
- Modeling and taking into account the multiplicative processes allows transforming them from a risk generator into an instrument that amplifies the steps of the government and private investors on ensuring economic security of the country.
 
The novelty of this research consists in the approach towards analyzing multiplicative process as a risk generator, which complicates the implementation of investment projects by shifting the impact upon the trajectory of their development.