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Indicators of economic development in the basis of the characteristics of regional differentiation

Author

Listed:
  • Aivazian, Sergei

    (Central Economics and Mathematics Institute of the Russian Academy of Sciences)

  • Afanasiev, Mikhail

    (Central Economics and Mathematics Institute of the Russian Academy of Sciences, Russia, Moscow;)

  • Kudrov, Alexander

    (Central Economics and Mathematics Institute of the Russian Academy of Sciences, Russia, Moscow;)

Abstract

On the example of two directions: «production of goods and services» and «material welfare», the methodology of the analysis of interrelation of different directions of regional development is formed. The novelty of the results is determined by the fact that the direction indicators are based on a common basis, formed from the characteristics of regional differentiation on the basis of theoretically based models. The indicator of each direction, built in the basis, is maximally correlated with the indicator formed on the basis of the corresponding group of indicators. It is shown that for the two directions considered, the basis provides a higher consistency of indexes and ranks of regions than the first main components constructed by groups of indicators. The advantage of the approach is that indicators of different directions based on the basis allow for a general interpretation in terms of differentiation characteristics and allow assessing the change in the level of socio-economic development of the region when these characteristics change. The article presents the results confirming the importance of the impact of technical efficiency on the indicators of regional development and its importance in the indicator in the direction of «material welfare».

Suggested Citation

  • Aivazian, Sergei & Afanasiev, Mikhail & Kudrov, Alexander, 2018. "Indicators of economic development in the basis of the characteristics of regional differentiation," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 50, pages 4-22.
    • Handle: RePEc:ris:apltrx:0341
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    References listed on IDEAS

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    1. Valeriy Makarov & Albert Bakhtizin, 2014. "The Estimation Of The Regions’ Efficiency Of The Russian Federation Including The Intellectual Capital, The Characteristics Of Readiness For Innovation, Level Of Well-Being, And Quality Of Life," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 9-30.
    2. Айвазян С.А. & Афанасьев М.Ю. & Кудров А.В., 2018. "Метод Сравнения Регионов Рф По Оценкам Технической Эффективности С Учетом Структуры Производства," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 54(1), pages 43-51, январь.
    3. Айвазян С.А. & Афанасьев М.Ю. & Кудров А.В., 2016. "Модели Производственного Потенциала И Оценки Технологической Эффективности Регионов Рф С Учетом Структуры Производства," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 52(1), pages 28-44, январь.
    4. Aivazian, Sergei & Afanasiev, Mikhail & Kudrov, Alexander, 2016. "Clustering methodology of the Russian Federation regions with account of sectoral structure of GRP," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 41, pages 24-46.
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    Cited by:

    1. Mikhail Y. Afanasyev & Alexander V. Kudrov, 2021. "Economic Complexity, Embedding Degree and Adjacent Diversity of the Regional Economies," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 17(2), pages 7-22.
    2. Tetyana Odintsova, 2018. "Influence of Tax Burden on Economic Development of Regions: The Cluster Approach," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 114-123, March.
    3. Aivazian, Sergei & Afanasiev, Mikhail & Kudrov, Alexander, 2019. "Indicators of the main directions of socio-economic development in the space of characteristics of regional differentiation," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 54, pages 51-69.

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    More about this item

    Keywords

    regional economy; econometric modeling; hypothesis testing; indicators.;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods

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