RuEn

Journal section "Regional economics"

Asymmetry Problems of Structural Shifts in Regional Economy

Rumyantsev N.M., Leonidova E.G.

Volume 13, Issue 6, 2020

Rumyantsev N.M., Leonidova E.G. Asymmetry problems of structural shifts in regional economy. Economic and Social Changes: Facts, Trends, Forecast, 2020, vol. 13, no. 6, pp. 169–183. DOI: 10.15838/esc.2020.6.72.10

DOI: 10.15838/esc.2020.6.72.10

Abstract   |   Authors   |   References
In the absence of a significant dynamics of economic growth rates in the Russian Federation and its regions and the exhaustion of the recovery increase potential, a negative impact of economic crises and existing export-raw production orientation manifest themselves especially clearly. As a result, a necessity to find new development drivers, which includes a great significance of the structural factor of the economic growth at the regional level in the context of achieving economic growth of the country, becomes relevant. In this regard, the purpose of the research is the analysis of structural shifts in regional economy at different phases of the economic dynamics. The novelty of the research is the definition of the contribution of structural shifts in the region’s economic growth at different phases of the economic dynamics. The methodology is based on the calculation of structural shifts’ indicators – magnitude, index, velocity, and power. We conducted the analysis of sectoral structural transformations of the regional economy on the basis of the Vologda Oblast’s materials for 2005–2018. The research revealed a low diversification and efficiency of adding economy into global chains of value added. We calculated the impact of the structural factor on the growth of gross regional product depending on an increase or decline in the economy. The activation of the potential of agriculture, mechanical engineering, and electronic industry sectors is seen as very promising. We calculated the multipliers of the impact of the stimulation of the proposed sectors on the basis of the inter-sectoral balance model. We reviewed the structural-investment policy as an important instrument of changing national economic proportions. The idea of forming the benchmarking system, concerning the efficiency of conducted structural policy, was substantiated. A practical importance of the research is an opportunity to use its results by authorities for the formation of regional structural policy. We will continue the studies related to the determination of the dependence of regional economy’s growth dynamics on structural dynamics in the investment process, organization of the factor analysis of the industry shifts and economic growth, and formation of the system of optimal indicators of the structural policy benchmarking

Keywords

region, investments, regional economy, economic growth, structural shift, sectoral structure

View full article

-->