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National Interests: Priorities and Security
 

The balanced socio-economic development risk of the region: Risk components and their interaction

Vol. 12, Iss. 6, JUNE 2016

PDF  Article PDF Version

Received: 4 February 2016

Received in revised form: 11 February 2016

Accepted: 16 February 2016

Available online: 28 June 2016

Subject Heading: SUSTAINABLE DEVELOPMENT OF ECONOMY

JEL Classification: R10, R11, R13, R19

Pages: 33-45

Rudakova T.A. Altai State University, Barnaul, Altai Krai, Russian Federation
rta_62@mail.ru

Sannikova I.N. Altai State University, Barnaul, Altai Krai, Russian Federation
sannikova00@mail.ru

Importance When determining priorities concerning the adequacy of investment solutions and using available resources of the region reasonably, interests often collide entailing some risks. Mitigating the adverse effects and assessing probable effects of the region's socio-economic development drivers and their allocations become one of the most critical objectives of researches into regional risks.
Objectives The research formulates a set of indicators that describe available resources and risks of balanced socio-economic development of the region.
Methods The research relies upon a systems approach to outline components of the risk of the region's balanced socio-economic development. Using methods of mathematical modeling in economics, we build a population of indicators to evaluate the comprehensive use of the region's available resources.
Results Having analyzed fundamental researches into risk management, assessment of risk implications for the region during investing activities, we formed indicators to evaluate the comprehensive use of available resources and regional risks.
Conclusions and Relevance We conclude that components of the risk of the region's balanced socio-economic development and their effective interaction result from the reasonable use of available resources in line with natural and climatic specifics, and the region's investment activities, rather than stemming from the physical existence of resources only.

Keywords: socio-economic development risks, region, development driver, resource potential, risk components

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