Econometric modeling of the impact of employment, fixed assets and innovations on GRP: A comparative analysis of the regions of the Volga Federal District
Subject. The impact of employment, fixed assets, and innovation on GRP. Objectives. Using the tools of correlation regression and variance analysis, to determine the quantitative parameters of the relationship between production factors and GRP in four regions of the Volga Federal District. Methods. The methods of time series analysis, calculation of chain, basic and average annual growth rates, paired and multiple linear regression, analysis of variance and interval statistical forecasting are used. Results. Econometric models have been constructed for each subject of the Volga Federal District. It is proved that fixed assets are the only statistically significant factor in the formation of GRP for the Samara, Nizhny Novgorod Oblasts and the Republic of Mordovia. In the Perm Krai, the joint significant impact of fixed assets and costs on technological innovations has been confirmed. The employment factor was reasonably excluded from the models of all regions. Conclusions. Fixed assets turned out to be the only universal and most stable factor that has a significant impact on GRP in all the regions studied. This confirms the special role of capital in ensuring regional production. The impact of innovation activity is ambiguous and depends on the level of technological development and the sectoral structure of the region's economy. This may indicate the limitations of an extensive growth model in a modern economy.
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