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Regular version of the site
Of all publications in the section: 47
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Article
Vukovic D., Radulovic D., Markovic M. et al. Economy of Region. 2017. Vol. 13. No. 4. P. 1314-1328.

The aim of this paper is to examine the development of a financial framework for assessing the effectiveness of interventions. The research is based on the evidence from Serbia. In terms of methods applied, we used econometric and scenario analysis. We presented - as individual separate items - the issues such as "who" - Government budget (Ministry, specific program, loan, donor, etc.), "how much" - the amount spent, "where" (NUTS 2 region), and on "what" (type of initiative). In our model, each of the interventions applied to one of the regional development priorities is linked and evaluated by its effectiveness observing the performance of the group of indicators associated with each of the priorities. All data obtained from 8 sectors were categorized under 4 priorities, i.e. "People, Place, Productive Capacity, and Institutional Capacity". Accordingly, we evaluate the effectiveness by observing the performance of a group of indicators related to each of the priorities. Our recommendations for optimizing the distribution structure of regional policies and regions are determined by the analysis of the performance of the group of indicators and their relative rankings per NUTS 2 region. The results are significant for further theoretical and applied research, as well as decision- making in the field of government financial policy. Our results confirmed that calculations of funds for regional development in strategic areas appear to be slightly problematic because, in the past, there was no strategic distribution based on established facts, which could be measured in terms of performance.

Added: Oct 31, 2019
Article
Vukovic D., Radulovic D., Markovic M. et al. Economy of Region. 2017. Vol. 13. No. 4. P. 1314-1328.

The aim of this paper is to examine the development of a financial framework for assessing the effectiveness of interventions. The research is based on the evidence from Serbia. In terms of methods applied, we used econometric and scenario analysis. We presented — as individual separate items — the issues such as “who” — Government budget (Ministry, specific program, loan, donor, etc.), “how much” — the amount spent, “where” (NUTS 2 region), and on “what” (type of initiative). In our model, each of the interventions applied to one of the regional development priorities is linked and evaluated by its effectiveness observing the performance of the group of indicators associated with each of the priorities. All data obtained from 8 sectors were categorized under 4 priorities, i.e. “People, Place, Productive Capacity, and Institutional Capacity”. Accordingly, we evaluate the effectiveness by observing the performance of a group of indicators related to each of the priorities. Our recommendations for optimizing the distribution structure of regional policies and regions are determined by the analysis of the performance of the group of indicators and their relative rankings per NUTS 2 region. The results are significant for further theoretical and applied research, as well as decision- making in the field of government financial policy. Our results confirmed that calculations of funds for regional development in strategic areas appear to be slightly problematic because, in the past, there was no strategic distribution based on established facts, which could be measured in terms of performance.

Added: Dec 22, 2017
Article
Kochetkov D., Larionova V., Vukovic D. Economy of Region. 2017. Vol. 13. No. 2. P. 477-488.

The scope of our research is the university as the key actor of economic change. Historically, it is possible to allocate four types of the university by analogy to four industrial revolutions. In the conditions of the fourth industrial revolution, there is a radical shift in the university model. From research and development and technology transfer, the university moves to the creation of the intellectual capital. The university does not simply conduct R&D for business but creates essentially new industries. The university becomes the center around which the new hi-tech enterprises grow. This phenomenon has been entitled entrepreneurial university that is the main actor of the entrepreneurial (startup) economy. In this study, we examined the different approaches to the evaluation of universities, first of all, global university rankings. Each ranking methodology assesses the different functional areas; a unified methodology of the evaluation of university as a complex system is currently lacking. At the same time, we tried to define the mechanism of the impact of the universities on regional economic growth grounding on a case of Russian universities. A comparative study of Novosibirsk and Tomsk universities has revealed key problem areas and barriers in the process of university engagement in regional economic systems. The findings will be used in further theoretical and applied research, as well as decision-making in the area of educational policy.

Added: Oct 31, 2019
Article
Yormirzoev M., Teuber R., Baranov D. Economy of Region. 2018. No. 1. P. 216-226.

This article explores consumers` acceptance and willingness to pay for genetically modified potatoes in Tajikistan. A binary-choice contingent valuation metholdolgy is applied as a primary research tool. Results indicate that more than half of respondents are not aware of this particular product. Yet, majority of consumers expressed their positive or neutral opinion. Findings highlight the relevance and possibility to introduce and market nonconventional potatoes in a Central Asian market of Tajkistan. 

Added: Mar 2, 2018
Article
Krukov V. A., Kolesnikova D. M., Noshchenko O. Economy of Region. 2019. Vol. 15. No. 4. P. 1009-1021.

Localization is regarded as a milestone of economic and social development at national and regional levels since it may contribute to the growth of production capacity. Following the potential of localization, governments of various mining countries resort to such strategic solution aiming to boost the growth of remoted areas such as the Arctic region. However, the implementation of localization strategies, assessment method- ology and intermediate consequences vary significantly. Thus, the theoretical underpinnings of localization regarding generation of ripple effects and analysis of current implications are essential are the basis of our research question. Norwegian localization experience is considered as the most successful, while Russian attempts to create local content in the Arctic are frequently criticized. Therefore, we focused on the comparative analysis of Norwegian and Russian localization experience. The study comprises examination of both national and regional levels aiming to reveal key components of success and potential burdens. On national level, the research addresses macroeconomic Input-Output model focused on assessing the cumulative impact and potential of mining industry. On regional level, we conducted analysis of the key socio-economic indicators affected mostly by mining activities as well as their localization. In this regard, we used available statistical microdata. Given the results, the success of localization in remoted regions is determined by intensification of inter-regional links and implementation of the governmental approach towards mining pro-jects focusing on upstream and downstream industries. At the same time, narrow governmental regulation leads to leakage of potential benefits. The research results may contribute to increase of knowledge on localization and ripple effects dynamic. Moreover, they may be considered while developing localization solutions for the Arctic projects.

Added: Jan 31, 2020
Article
Demidova O., Daddi P., Medvedeva E. et al. Economy of Region. 2018. Vol. 14. No. 4. P. 1383-1398.

The purpose of this study is to identify factors that affect the level of employment in Russian regions. However, Russia is not a homogeneous country, and this effect may not be the same for all regions. That is why we split the regions of Russia into three groups, depending on the state of the labor market in this and neighboring regions. The HH (high-high) group comprises regions with a favorable situation in their labor markets, and which are also surrounded mostly by prosperous regions. Two groups of regions with a less favorable situation are located respectively in the south of Russia (LL1, low-low group 1) and southern Siberia and Zabaikalye (LL2, low-low group 2). We considered the twelve-year period from 2005 to 2016. As explanatory variables, we used variables for the attractiveness of the region, demographic characteristics of the region, and the degree of diversity of employees by economic activities. We tested hypotheses about differences in 1) the spatial effects and 2) the impact of the various explanatory variables for these groups of variables. To test our main hypotheses, we used spatial regression dynamic models estimated with the help of the generalized method of moments. Both main hypotheses received empirical confirmation. Spatial effects were different. The regions of the LL2 group are not affected by the situation in other local markets; regions of LL1 and HH groups are affected by the rest of Russia’s regions, and the extent of this influence decreases with the increase in geographical distance between regions. Moreover, the regions of the LL1 group compete with neighboring regions: if the situation in one of them improves, then it draws on the resources of the others. Regarding the impact of the explanatory variables, the “group effect” was revealed for the variables: share of urban population, net migration rate, shares of people below and above working age, share of people with higher education. Our results can favor the better design of national and regional policies to improve labor market performance in Russia based on the heterogeneity of the Russian regions.

Added: Dec 9, 2018
Article
Steblyanskaya A., Wang Z., Ryabova E. et al. Economy of Region. 2019. No. 1. P. 231-241.

Over the past ten years, an ambiguous situation concerning Russian gas companies has been observed. On the one hand, companies’ reports represent conservative policies and sustainable growth in the coming years. On the other hand, companies’ fi nancial performance suggests another situation because of the insuffi cient level of fi nancial indices that refl ect the inconsistency of existing sustainable growth approaches. This situation indicates the relevance of the research concerning Russian gas companies’ fi nancial sustainable growth in the conditions of the global economy, “economic sanctions” and investment policy implementation. The primary purpose of the research is to analyse Russian gas companies’ fi nancial growth strategy employing Geniberg Z — matrix as well as enhanced fi nancial sustainability indicators system indices by identifying which indicators have a greater infl uence on sustainable growth rate. We found that return on fi xed assets ratio, net profi t growth ratio, debt equity ratio infl uence on Russian gas companies’ sustainable growth rate and recommended for the system of fi nancial sustainability indicators (FSIS) usage. We associate the concept of Russian gas companies’ fi nancial sustainable growth with environmental protection, energy savings, and social factors. Thus, we added to the fi nancial model non-fi nancial factors. As a result of the analysis, we have obtained the dependence of Sustainable Growth Rate to Environmental Ratings as well as Return on social responsibility costs. We recommend paying more attention to the energy, social, environmental, and economic determinants that could contribute to sustainable growth. We also found that Russian gas market companies could improve Financial Strategies according to sustainable growth point of view. We suggest ways to enhance the fi nancial strategy of Russian gas companies.

Added: Apr 24, 2019
Article
Leshukov O., Platonova D., Semyonov D. Economy of Region. 2016. No. 2. P. 417-426.

The paper explores the correlation between the degree of competition between higher education institutions (HEIs) and the efficiency of regional higher education systems using evidence from the Russian Federation. The choice of the regional system of higher education as a unit of analysis is explained by the features of the Russian system of higher education, especially by “closeness” in the borders of regions. We propose a special approach for the evaluation of the regional higher education system efficiency from the public administration perspective. Using data envelopment analysis (DEA), we investigate the efficiency of higher education systems in the regions and compare the results with the extent of higher education competition within them. The results indicate that higher efficiency scores and higher competition between HEIs in Russian regions are positively correlated. Moreover, by introducing socio-economic context status as a grouping parameter, we are able to specify the conditions of this relationship. The study explores that correlation between efficiency and competition is stronger in developing and low-performing regions. At the same time, higher education systems in developed regions consist of different HEIs, which create a competitive environment, although their efficiency level varies considerably. Taking into account all limitations of the study, these results contain several important issues for policy-making and higher education research discussions. They challenge the universalistic assumptions for the direction of higher education development.

Added: Jun 6, 2016
Article
Терещенко Д. С., Щербаков В. С. Economy of Region. 2021. Vol. 17. No. 1. P. 223-234.

Universities play a crucial role in local economies, providing educational services and participating in research and development. This is particularly important for Russia where regions are highly differentiated in terms of both socio-economic development and technological progress and innovations. However, many regional universities in Russia have traditionally focused primarily on teaching, with less emphasis on research activities. In this paper, we aim to deepen the understanding of the impact of scientific activities of universities on regional economic and innovative development. For this purpose, we estimate different specifications of a fixed-effects model using panel data from Russian regions for 2010–2016. We aggregate the number of universities’ publications per researcher at the sub-national level to incorporate regional scientific activity in our model. Considering other important socio-economic characteristics of regions, we revealed that the association between the publication activity of universities and innovative development of the region remains significant, while the relationship between economic development of the region and the scientific activity of universities disappeared completely. A number of robustness checks demonstrated that statistically significant results remain only when the relative number of publications indexed in international citation databases (Scopus and Web of Science) is used as an explanatory variable. Simultaneously, the publications indexed in specific Russian lists and databases as well as publications in regional scientific organisations that are not universities do not contribute to innovative development of the region. The results can be used for planning the funding of research activities in universities and setting performance targets for universities.

Added: Oct 1, 2020
Article
Zazdravnykh Yevgeny Aleksandrovich. Economy of Region. 2014. No. 3. P. 140-146.

This article describes existence differences in the level of entrepreneurship in manufacturing industry among Russian regions with particular attention to European and Siberian territories of the country. I tested the hypothesis that regions are more entrepreneurial if they will contain more urbanization, higher shares of educated and young people and better transport infrastructure. I analyzed panel data for 80 regions for a time period since 2005 till 2011 years. The estimations showed that the existence of differences were predicted by variables: the share of young people, the rate of agglomeration, the share of people with tertiary education (specialist’s diploma), the transport infrastructure and the specialization of those territories. At that time, the share of employed population with tertiary education is not significant for European part of Russia and significant for Siberia. Thus, human capital is more important for Siberian entrepreneurs than transport infrastructure than in European part of Russia.

Added: Oct 30, 2015
Article
Порфирьев Б. Н. Экономика региона. 2011. № 2.
Added: Mar 28, 2012
Article
Мясников А. А. Экономика региона. 2018. Т. 14. № 4. С. 1168-1180.

The article investigates the major determinants of total factor productivity of Russian regions, in particular, the role of spillovers and agglomeration effects. Agglomeration effects are found to be important in regions located in the European part of Russia and in regions with low shares of extraction in the gross regional product (GRP): employment density in such regions turns out to be a significant factor determining total factor productivity. At the same time, neither employment density nor the degree of urbanization affects regions’ sensitivities to spillovers of total factor productivity from other regions — instead, these sensitivities depend only on the sizes of regional capitals and on shares of credit in GRP. This suggests that firms from regions with large capitals and high shares of credit in GRP are more actively expanding into neighboring regions: through their linkages with local firms in host regions, they may create positive correlations between total factor productivities in such host regions and their home regions. The analysis is based on methods of spatial econometrics — namely, the spatial lag and spatial error models with constant and variable spatial coefficients. The estimation is performed with maximum likelihood.

Added: Mar 29, 2019
Article
Попов К. А., Ивашковская И. В., Макеева Е. Ю. и др. Экономика региона. 2021. № 1. С. 1-28.

The search for sources of regional development is important due to the slowdown in economic growth and the need to shift the emphasis in industrial policy from the macro level to the level of regions and individual companies, their presence affecting society and the environment in specific territories. In this regard, the paper proposes to consider the participation of business companies in reputation ratings as a new source of increasing the investment attractiveness of the regions: corporate ratings reflect socio-economic reputation of companies, determining whether one meets the goals of sustainable development. This, in turn, enhances socio-economic development of regions.

The paper elicits positive impact of high corporate ratings on the level of socio-economic development of regions of the companies’ presence, opening a new cluster for interdisciplinary research at the intersection of corporate finance and regional economics.

On the example of 130 biggest Russian public non-financial sector companies authors obtained several significant results, which make it possible to determine the degree of influence of corporate ratings on the socio-economic situation of regions of their presence and corporate financial performance. The set of researched ratings includes Russian Union of Industrialists and Entrepreneurs (RUIE) Sustainable development Index, WWF Russia Environmental responsibility rating, and Corporate social responsibility rating of Association of Managers of Russia (AMR).

The calculations showed that the participation of companies in the ratings of WWF Russia and RSPP positively affects the place of the region in the ranking of socio-economic development, as well as indicators of the sustainable development of their regions. This made it possible to detect positive effects for the regions from the participation of companies in reputation ratings. At the same time, the influence of companies' participation in the WWF Russia rating is higher in modulus than the influence of participation in the RUIE rating. In addition, it was found that reputation ratings have a positive effect on the return on assets and market capitalization of Russian companies in the real sector, thus, the presence of an effect in the idea of increasing additional income from participation in ratings at the micro level was proved.

Positive impact of reputational ratings on companies’ return on assets and market capitalization discovered, which means that Russian companies benefit from participating in such ratings. Moreover, participation of companies operating in region in WWF Russia and RUIE ratings raises its position in socio-economic ranking. At the same time, different ratings affect corporate performance in different ways. Company’s leadership in RUIE rating increases its attractiveness for investors, employees and other stakeholders, improving conditions for conducting business, while for Environmental responsibility rating by WWF Russia even company’s involvement increases its profitability and market capitalization. Meanwhile, Corporate social responsibility rating enhances market capitalization of Russian non-financial companies stronger than other examined ratings.

Overall, the present research demonstrates the necessity of expanding Russian companies’ participation in reputational ratings and improvement of both corporate and regional socio-economic sustainability. These findings emphasize the necessity for expanding the practice of participation of Russian companies in corporate ratings, as well as an importance of further research in companies’ activities for improvement of corporate reputation, and its impact on the investing attractiveness and sustainable development of regions.

Added: Dec 11, 2020
Article
Евтюгина А. А. Экономика региона. 2010. № 2 (22). С. 222-227.
Added: Feb 19, 2014
Article
Фокеев М. А., Ружанская Л. С., Кисляк Н. В. и др. Экономика региона. 2019. Т. 15. № 4. С. 1129-1139.
Added: Nov 22, 2020
Article
Ольховик В. В. Экономика региона. 2019. Т. 15. № 3. С. 938-951.

The problem of developing the tax potential of the constituent entities of the Russian Federation is crucial in the context of the country’s socio-economic instability. This instability results in the limited opportunities for the regional budgets to get financial support from the Federation. Combining the best practices of developing the tax potential with new author’s approaches and recommendations has allowed identifying the main ways to improve the fiscal policy of regional authorities. The article describes the opportunities and directions for further development of the tax potential of the Russian Federation entities in order to increase the level of their fiscal capacity. In particular, I focused on analysing the measures aimed at the extension of the existing tax base and improvement of the region’s investment climate for attracting potential taxpayers. The research methods include empirical and statistical research, synthesis of practical and theoretical materials, formal logic. I performed data processing and information systematization by applying cluster method, classification, comparative, logical and econometric analysis. In the context of the existing regional legislation, I identified the opportunities for the mobilization of tax revenues. A separate section is devoted to the implementation of the stimulating tax incentives and development of the integrated approach to its efficiency assessment. As for the prospects of improving the constituent entities’ investment attractiveness, the paper analyses opportunities and potential results for applying tax credit and differentiated tax rates. Moreover, the article examines the creation of funds for producing the import-substituting goods on the region’s territory. Based on the results of analysing the best regional practices in taxation and legislative framework of 85 entities of the Russian Federation, I developed proposals aimed at the development of the economy’s priority sectors. Particularly, they focus on attracting investments through establishing new models and forms of the state support of innovative and investment activities. Such proposals are especially relevant for the regions characterised by a low level of fiscal capacity and unbalanced budgets.

Added: Sep 23, 2019
Article
Коршунов И. А., Ширкова Н. Н., Завиваев Н. С. Экономика региона. 2021. Т. 17. № 1.
Added: Nov 2, 2020
Article
Растворцева С. Н., Манаева И. В. Экономика региона. 2020. Т. 16. № 3. С. 935-947.

At the present stage, urban economists widely use Zipf’s law to assess the urban regional and national systems. Zipf’s law or the rank–size rule is a pattern linking the population of a city with its place in the hierarchy of cities arranged in descending order depending on their size. Using Zipf’s law, the study aims to analyse the uniformity of the distribution of population, employees, enterprises and organisations in Russian cities. The research is based on the data of the Federal State Statistics Service. We selected a sample of cities from each Federal District and Russia as a whole. The sample included settlements with the status cities and more than 100 thousand inhabitants in 2016. The maximum values of the Zipf coefficient were calculated for the indicators “population size” and “average annual number of employees of enterprises”. Regarding the Federal Districts, the estimated Zipf coefficients ranges from 0.5 to 0.9 in terms of the population size; from 0.4 to 0.8 in terms of the average annual number of the employees of enterprises; from 0.4 to 0.8 in terms of the number of enterprises and organisations. For reducing the identified interregional differentiation in the Federal Districts of Russia, we advise to develop small and medium cities. Further research should focus on the application of Zipf’s law to create a method for determining the optimal size of a city in a territorial space.

Added: Oct 1, 2020
Article
Растворцева С. Н. Экономика региона. 2020. Т. 16. № 1. С. 28-42.

The diversification of regions in terms of economic growth rate is largely due to the path dependence: a region’s economy depends on the earlier established industrial structure. Successful regions, formed as an economic “core”, now have more reasons for creating a new economy and ensuring further economic growth. Existing institutions and norms, returns to scale, inertial development are the constraining factors for the path-breaking. The paper shows that the departure from path dependency for the regions is possible through technological innovations and interregional relations. The study aims to develop a method for assessing a region’s path-breaking possibility based on the existing industrial structure and its connection with the economy’s hightech sector. The proposed assessment method is based on using the localization coefficient for determining the proximity of types of economic activity (that have a comparative advantage in a region) with the economy’s high-tech sub-sectors. The approach has been tested in the regions of Russia. We have shown that certain regions can move further by investing in interregional ties and internal innovations. These two factors contribute to the rapid development, reduce dependence on the established industrial structure, allow maintaining comparative advantages. The research has practical significance as it offers an analytical tool for making decisions about the possibility and directions of a region’s path-breaking. It is important to understand in which direction a region should develop inter-sectoral cooperation for the emergence of the economy’s new sectors.

Added: Mar 31, 2020
Article
Гапонова О. С., Смельцова С. В., Чилипенок Ю. Ю. Экономика региона. 2020. Т. 16. № 4. С. 1147-1161.

Recently, the topic of regional development has become particularly relevant since regions are gaining more and more autonomy in solving their socio-economic issues. This transformation results in the concern of how to find potential partners for building a regional development strategy, sharing resources and competencies. In this context, it is advisable to consider universities as a significant potential partner. In particular, it is necessary to analyse their role and capabilities in creating a regional strategy, the most relevant forms of interaction, and indicators for assessing the effectiveness of the universities’ integration to address the challenges of regional development. We applied the expert interview method and discussed the problem with representatives of 28 Russian universities who occupy top managerial positions and have an expert opinion on key issues. Based on the analysis of empirical material, we identified three main roles of universities in regional development: a project initiator, a partner, and a source of human and analytical resources. During the resource assessment, we determined that funding is the only scarce resource for universities, while all other resources and competencies can be quickly mobilised if necessary. The most effective mechanisms for integrating universities to address regional challenges are a consortium of universities and the organisation of project offices with the participation of government and business representatives. The main research result was the identification of quantitative and qualitative criteria characterising the universities’ involvement in solving socio-economic issues of regional development, as well as indicators, which are necessary for their definition. Additionally, we discovered a previously unidentified information and administration group among the quantitative criteria and defined the main stages of assessing the effectiveness of such integration. In regards to the considered issue, a promising direction for further research would be a comparative analysis of the effectiveness of the universities’ integration to address social and economic challenges in different regions of the Russian Federation.

Added: Nov 14, 2019