Modeling the Harmony of Economic Development of Regions in the Context of Sustainable Development

Abstract

The study simulates the harmony of economic development of the regional economic systems in the context of sustainable development for the following successive stages: separation of indicators from the array of statistics in the regional context; standardization of indicators of economic development of the regional economic systems; use of correlation analysis to determine the integrated index of economic development of the regional economic systems; taking into account the coefficients of influence of indicators on the integrated index of economic development of the regional economic systems; determining the harmony of economic development of the regional economic systems using the hyperbolic Fibonacci cone; approbation of modeling the harmony of economic development of the regional economic systems. In accordance with the outlined stages, the proposed method was tested for the regions of Ukraine and an example was given in relation to the economic component of sustainable development. The highest integrated index of economic development is observed in Kyiv, and the lowest in Luhansk region, the difference between the values is 17.6 times. According to the results of calculations, the regions are grouped according to the harmonies of economic development, and cartographic analysis is given.