Idziev G.I.Institute of Socio-Economic Research, Dagestan Science Centre of RAS, Makhachkala, Republic of Dagestan, Russian Federation textima@mail.ru
Importance The article discusses the regional level of economy in four large segments, i.e. commodities, services, labor and capital. The market infrastructure components considerably influence the above markets, thereby creating conditions for their performance and development of the region's economy as a whole. To make an adequate evaluation of the current state and productivity of the region's market infrastructure, I analyzed the state-of-the-art and issues of development per each infrastructure component. Objectives The research analyzes the state of the region's market infrastructure, figures out the specifics of the market infrastructure formed in the region, considering its big significance for the development of the regional economy. Methods I applied a comparative analysis based on official statistical data and my own estimates, thus evaluating the quality and the state of the region's market infrastructure. Results I found the specifics and main challenges that affected the formation of market infrastructure institutions in the region under study. Components of the region's market infrastructure are poorly coordinated due to spontaneous and uncontrolled development of market infrastructure in the region. When large markets do not undergo such comprehensive development, it leads to their stagnation, meanwhile successful market operations are an important condition for effective economy of the region. Conclusions and Relevance Based on the research, I conclude on the low efficiency of the region's market infrastructure and a need to modernize it. The findings and recommendations may prove useful for the republican authorities as a practical tool to articulate strategies and programs for socio-economic development of the region.
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