Regional Economics: Theory and Practice

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Assessing the priorities of regions' structural policies using the values of Barro-regression parameters

Vol. 15, Iss. 7, JULY 2017

PDF  Article PDF Version

Received: 7 February 2017

Received in revised form: 27 February 2017

Accepted: 14 March 2017

Available online: 14 July 2017


JEL Classification: C21, C23, C51, O11, R11

Pages: 1233–1250

Krinichanskii K.V. South Ural State University (National Research University), Chelyabinsk, Russian Federation

Lavrent'ev A.S. South Ural State University (National Research University), Chelyabinsk, Russian Federation

Importance The article deals with the issues of economic growth at the regional level discussing Russia's economic development model change.
Objectives The article aims to identify the drivers of economic growth at the regional level.
Methods For the study, we used a comparative analysis of retrospective elasticity coefficients in regression models, research methods, econometric methods related to the construction and evaluation of cross-section regression model parameters, and fixed effects models for panel data analysis.
Results The article identifies a significant impact of individual variables of employment, education, public health, R&D, and small business variables on Gross Regional Product.
Conclusions At the present time, Russia needs certain structural reforms to achieve higher levels of regional and national economic growth, compared with the consensus forecast. The use of the estimates obtained makes choosing of priority areas and directions of such change more accurate. The identification of priority areas and directions for economic development will enable the Russian regions to make more effective use of domestic sources of economic growth.

Keywords: economic growth, structural policy, human capital, infrastructure, technology, regression model


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