Investment Activity of Large Cities - Regional Centres in Poland
Purpose: The main purpose of this article is to assess the level and diversity of investment activity of large cities – regional centres – in Poland in the 2007-2018 period. Design/Methodology/Approach: The empirical research was based on Statistics Poland and the Ministry of Finance data and processed using the essential methods of descriptive statistics and taxonomy. In the first stage of research, the level of investment activity of all voivodship cities was assessed against other local government entities based on an analysis of the values of investment expenditures implemented. The second stage involved an assessment of the level and diversity of investment activity in voivodship cities. Due to the multidimensional nature of the phenomenon – investment activity of local government entities, which can be described with a number of simple features – a synthetic assessment of its level in voivodship cities was conducted with the use of the TOPSIS method. Findings: The highest level of investment activity was found in Białystok, Gdańsk, Rzeszów, Warsaw and Olsztyn. Therefore, as many as two cities from Eastern Poland, namely Białystok and Rzeszów, ranked among the leading voivodship cities with very high or high investment activity. Thus, the empirical research made it possible to partially confirm the research hypothesis posed, assuming that ‘As a result of the lower level of development and existing deficiencies in social and technical infrastructure, the highest level of investment activity may be associated with large cities located in Eastern Poland in relation to other regional centres. Practical Implications: The largest cities should be highly active in investment – regional centres seeking to retain and strengthen their metropolitan position not only on the regional but also European level because their sustainable social and economic growth is impossible without local investment. The research results may be useful for the purposes of creating the investment policy of large cities. Originality/value: The results of the analysis and theoretical considerations contained in this article complement existing research in the field of investment activity of local government entities.