Importance The contemporary circumstances of the development of the Central Federal District make the issue of determining internal resources of socio-economic development even more important. To solve this issue, it is necessary to devise new approaches to determining the structure, substance of, and methods for evaluating the socio-economic potential of the District. It may be achieved only if the Central Federal District implements the scientifically proven and socio-economic policies at various economic levels (federal, regional and municipal). Objectives The research pursues developing and testing theoretical and methodological tools for evaluating the socio-economic potential of the Central Federal District. The following logically consistent objects have been set: to identify strengths and weaknesses of various approaches to analyzing and evaluating the socio-economic potential of the Central Federal District; to develop the appropriate methods for evaluating the socio-economic potential of the District. Methods Using econometric methods, this research reviews various approaches to analyzing and evaluating the socio-economic potential of the Central Federal District and ranks the regions of the District on the basis of unbiased indicators of the standard of living. Results As the analysis of the research results shows, the majority of administrative units in the Central Federal District have some weaknesses that affect the standard of living of the population. Solving the respective issues and challenges should be a priority goal to improve the socio-economic situation. Conclusions and Relevance I conclude that, under the current circumstances, evaluation of the economic, social, financial and natural resource potential of the Central Federal District is of high significance, on the one hand, to implement the active federal policies aimed at strengthening the economic and political integrity and consistency of the country, and, on the other hand, to help each constituent entity of the Russian Federation determine its own economic status. The proposed recommendations for developing and applying the methodological tools for evaluating the socio-economic potential of the Central Federal District may prove helpful at each tier of authority in order to modernize the crucial socio-economic processes.
Keywords: methodological tools, assessment, socio-economic potential, Central Federal District, CFD
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