Home  Journals  Finance and Credit  2(722) - 2017 January

Current issues of economic specialization of the Republic of Dagestan

Vol. 23, Iss. 2, JANUARY 2017

Article PDF Version

Received: 17 November 2016

Received in revised form: 1 December 2016

Accepted: 13 December 2016

Available online: 17 January 2017

Subject Heading: INVESTING

JEL Classification: О18, Р25, Р48, R11, R58

Pages: 110-126

https://doi.org/10.24891/fc.23.2.110

Subject The article discusses trends and possible prospects for increasing the economic capacity of the Republic of Dagestan.
Objectives The objective of the study is a complex research in the problems of Dagestan economy development under a new approach, which is primarily based on the most specialized production using the latest achievements of science and technology and thus having a high share of added value of the end product.
Methods In the course of the research, we employed methods of logical and statistical analysis.
Results Implementation of priority projects will undoubtedly give impetus to the Republic's economy. Eventually, it will enable to create favorable living environment and ensure employment with decent remuneration, and to create a positive image of Dagestan as a stable and safe region.
Conclusions The power industry, agro-industrial complex, and the transport industry of the Republic should create a base of the new regional system of modern cluster-type industries to ensure flexible and mobile adaptation of the Dagestan economy to continuously changing demands of the foreign and domestic market. The top of the hierarchy of such industries should be the most specialized productions in the inter-regional relations that are designed to provide a large-scale presence of the Republic of Dagestan in the Russian market and determine its future export potential.

Keywords: priority project, gross regional product, shadow economy, new industrialization, import substitution

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