Home  Journals  Regional Economics: Theory and Practice  18(153) - 2010 May

Particularities of the formation of region industry production function

Available online: 19 May 2010

Subject Heading: Economy and management

JEL Classification: 

In article on an example of the industry of Ivanovo region features of construction of two-factor multiplicative production function of economic systems meso level of transitive economy are revealed. It is shown, that use of units of measure of expenses of production factors traditional for macroeconomic systems does not give positive result for the industry of the Ivanovo region: their combination on an analyzed interval of time from 1991 to 2007 basically are out of an economic set of definition of production function. If apply an index value of average annual cost of the basic production assets taking into account use manufacturing capacity the production function can be defined. Such production function adequately describes industrial production of the Ivanovo region.

Keywords: mesoeconomics, region, production function, econometric model, industry, production factors

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ISSN 2311-8733 (Online)
ISSN 2073-1477 (Print)

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