Analysis of Russia’s Regional Socio-Economic Situation Indicators

Abstract

The article analyzes the socio-economic indicators that influence the future gross regional product growth. The mutual influence of the gross regional product (GRP) and socio-economic development indicators reflects the regional economic development perspective. The goal of the article is to show the theoretical analysis possibilities for practical use in regional planning and forecasting. The analysis of certain exogenous variables that affect the gross regional product is made. It is found that the preliminary indicator analysis may determine the most significant development factors for the region. The econometric models that quantify the contribution of the significant factors in the formation of the two most important regional socio-economic situation indicators - gross regional product and gross regional product per capita - are constructed. This analysis can be useful to flesh out the government support programs for the regions and determine the possible dynamics of GRP.

DOI: 10.5901/mjss.2015.v6n3s7p47