Factors of regional differentiation by economic growth rates
Victor E. Dementiev
TERRA ECONOMICUS, 2020, Vol. 18 (no. 2),
The article deals with the analysis of differences between the Russian regions in the growth rate of gross regional product from 2015 to 2018. As the author argues, the World Bank methodology of identifying and exploiting regional potential is not adapted to the analysis of regional dynamics. The article analyzes these dynamics based on Rosstat statistics on 18 indicators for 85 regions and 41 regions with a high share of manufacturing industry. A positive relationship is identified between the GRP growth rate, the dynamics of investments in fixed assets, and the average living space per person. No statistically significant relationship is identified between the GRP growth rates and the region’s orientation toward increasing exports to nonCIS countries. The degree of influence of urban and institutional factors on the GRP growth rates remains a question. The analysis of data from 85 and 41 regions shows a statistically significant inverse relationship between the GRP growth rates and the share of investments in reconstruction and modernization as a share of total investment in fixed assets. Thus, the choice between demonstrating relatively high GRP growth rates in the short and medium term and solving strategic tasks shows its relevance for the regions. The statistical models discussed in the paper include the wide range of estimated regional parameters. Despite this, the author emphasizes the need for more detailed consideration of regional specifics when looking for reserves to increase the GRP growth rates.
Citation: Dementiev, V. E. (2020). Factors of regional differentiation by economic growth rates. Terra Economicus, 18(2), 6–21. DOI: 10.18522/2073-6606-2020-18-2-6-21
Keywords: gross regional product; subjects of the Russian Federation; economic potential; urbanization; investment; economic growth rates
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Publisher: Southern Federal University
Founder: Southern Federal University
Founder: Southern Federal University