Abstract
The article focuses on issues of economic growth, and eco-efficiency in Russian industrial regions on the example of the Urals Federal District. The study is based on the concept of existing tensions between economic development, and eco-efficiency. The author claims that within this concept an optimum could be found. The purpose of the study is to determine the most optimal industrial growth rate within the Urals Federal District. Industrial production representing 50% of the sectoral gross value added structure is the key factor of economic growth in the researched regions. This basic hypothesis of the study is confirmed by a relatively strong correlation between industrial growth rate and Gross Regional Product growth rate in Sverdlovsk region, Tyumen region, and Chelyabinsk region. As part of the study the author made use of correlation analysis, which confirmed the basic hypothesis of the research, and paired regression analysis, where industrial production growth rate is used as a regressor to build paired regression models. Economic growth is estimated via Gross Regional Product growth rate. For every sector, where the basic hypothesis is confirmed, there is a graphical model illustrating dependence of economic growth (E1), and eco-efficiency (E2) on industrial growth rate. The study discovers optimal industrial growth rate providing development of eco-efficiency in the researched regions. The results of the study can be applied both by scientists or government structures in strategies of regional development taking into account eco-efficiency.
Highlights
Economic slowdown is one of the biggest challenges modern world has to face
Scientific community has spent many years searching for drivers of economic growth
Numerous studies have been undertaken including those with regard to mathematical modeling of economic growth, the foundation of which was laid by J
Summary
Economic slowdown is one of the biggest challenges modern world has to face. Russian economy, where decline in economic growth is more frequently considered as routine, is not the exception. The study covers economies of the Urals region. In current figures the Urals region is 10.62% of Russian land area, 8.41% of population, 8.86% of employed and self-employed people, 13.51% of Gross Regional Product, and 35.43% of tax revenue to State budget. 55.5% of gross value added structure is represented by industrial production up to the end of 2017. Industrial sector tends to decline in recent years, which is common as to the Urals region (56.7% in 2005), as for the regions within the Urals Federal District. Kurgan region demonstrates growth (23.6% in 2005, 30.4% in 2017)
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