Germanova O.E. Sectoral and factor structure of growth in the economy of the Rostov region
Olga Egorovna Germanova
Doctor of Economic Sciences, Professor, Department of the Economic Theory, Southern Federal University
Bolshaya Sadovaya St., 105/42, 344006 Rostov-on-Don, Russian Federation
Abstract.
The acceleration of the economic growth is the priority direction of the economic policy of Russia. The justification of growth rates requires a research of sources and points of economic growth. The mentioned problem is relevant also for the regions. The goal of the article consists in finding the components of the growth of the gross regional product of the Rostov region in 2000–2015. The sources and factors of which are the availability of the factors of production and the scientific and technical progress. Another purpose is the calculation of the contribution of the industries to the GDP growth. For the realization of the goal within the methodology of the neoclassical synthesis by means of econometric methods a modified production function of type of Kobba-Douglas reflecting dependence between the gross regional product and labour time, capital and earth is proved. On the basis of the production function an economical and statistical assessment of the contribution of the factors of production and the technical progress to the increase of the gross regional product which directly and statistically is not observed and is not measured by traditional methods is given. The following conclusions are made. High average rates of an increase of the gross regional product in the Rostov region in 2001–2015 are explained by a low basic volume of the product, low productivity of factors of production and efficiency of technologies. The applied technologies provided 23,52 % of the increase of the gross regional product, 7,87 % of the increase gave the labour, 45,2 % of the increase gave the capital, 0,17 % gave the land, unaccounted factors provided 23,24 % of the increase. The rates of the economic growth in 2004–2015 reduced both in industries and in regional the economy. They remained unstable. The greatest share in the increase of the product is provided by the wholesale and the retail trade by 20,21 %; by the construction by 16,0 %, by the agriculture by 7,9 %.There is an urgent need for an increase of the contribution of factors of production, first of all of the labour into the growth of their productivity, technical sophistication of industrial types of activity, percentage of innovative types of activity in the structure of the regional economy.
Key words: sectoral structure of economic growth, production factors, labour, capital, earth, technical progress, Gross regional product, Rostov region.
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