Prioritizing structural reform areas: Methodological aspects

Abstract

Subject. This article examines the theoretical basis for prioritizing structural reforms in countries and regions. Objectives. The article aims to develop a methodology that helps identify and rank the areas of structural policy and structural reforms by their priority. Methods. For the study, we used a regression analysis, gap analysis, benchmarking, cross-country and regional comparison, and graphical presentation of data. Results. The article proposes a methodology of quantitative assessment and ordered estimate of the priorities of structural reforms. It shows maps of the priorities of the target region, namely the Chelyabinsk Oblast, and the group of regions that have a development pattern similar to the model region, or competitor regions. Conclusions. The problem of increasing the rates of economic growth and well-being standard in the regions can be tackled through structural policies based on prioritizing the economy areas and concentrating resources in the selected ones.