Regional Economics: Theory and Practice
 

Social and economic welfare as a guarantee of SME progress: Evidence from the Volga Federal District

Vol. 14, Iss. 7, JULY 2016

Received: 21 December 2015

Received in revised form: 30 December 2015

Accepted: 15 January 2016

Available online: 18 July 2016

Subject Heading: SUSTAINABLE DEVELOPMENT OF REGIONS

JEL Classification: C43, М21, O18, P25, R11

Pages: 89-104

Yashina N.I. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
yashina@iee.unn.ru

Ginzburg M.Yu. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
ginzburg@iee.unn.ru

Sukhova E.A. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
lena-sukhovaa@yandex.ru

Kudryavtseva M.O. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
kudryavtseva.marie@gmail.com

Importance The article deals with the problem of development of small and medium-sized businesses in the constituent entities of the Russian Federation using a case study of the Volga Federal District.
Objectives The aim of this study is to identify the relationship between the level of socio-economic development of the Volga Federal District and level of development of small and medium-sized businesses in the region.
Methods We used a systems approach as a methodological basis of the study to analyze the system of socio-economic indicators of the actors of the region and the system of small and medium-sized businesses, as well as their interaction and relationships. Socio-economic indicators of the Volga Federal District and statistical data on the development of small and medium-sized businesses are the study source information. To assess the relationships of these two indicators, we derived integral indexes, which were compared by using a correlation analysis.
Results We rated the entities of the Volga Federal District, by integral indexes of socio-economic indicators and development level of small and medium-sized businesses in each entity, for the studied periods (2010–2013). We found out that there is a close relationship between the level of development of small and medium-sized businesses and socio-economic indicators of the region.
Conclusions and Relevance We conclude on the necessity to improve the well-being of the population and create a favorable economic climate in the region in order to increase the pace of development of small and medium-sized businesses. The results of the research can be used to develop measures to improve the level of development of small and medium-sized businesses within the regions and the country as a whole, because this particular segment could become one of the key factors in the growth of the economy of the Russian Federation.

Keywords: small and medium-sized business, socio-economic development, regional economy, aggregation, standardization

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