Subject. This article discusses the prospects for growth of Russia and its regions' economies. Objectives. The article aims to identify causal relationships between gross regional product as the main economic growth indicator of a particular region and labor costs. Methods. For the study, we used a correlation and regression analysis. Results. The article presents trend forecast models and linear equations of multiple regression. It finds that all capital factors have a stronger impact on public product of the Lipetsk Oblast than the labor ones. Regarding labor factors, only the average per capita income of the population has a direct impact on the formation of the Lipetsk Oblast's GRP. Conclusions. The identified relationships between the Lipetsk Oblast's GRP and exogenous variables help define the hierarchy of linear models that provide extensive analytical information on the formation of the Lipetsk Oblast's GRP. In linear models, there is no significant relationship between the changes in the working population of the Oblast and the regional product. To adequately describe the dynamics of the Lipetsk Oblast's GRP, it makes sense to apply a set of linear models of multiple regression.
Neveikina N.V. [Inner structure of a region as a system]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2014, vol. 15, no. 11, pp. 22–27. URL: Link (In Russ.)
Taylor C.A. Demographic Disaggregation in the Construction of Regional Econometric Models: A Statistical Evaluation. International Regional Science Review, 1982, vol. 7, iss. 1, pp. 25–51. URL: Link
Madden M., Batey P.W.J. Linked Population and Economic Models: Some Methodological Issues in Forecasting, Analysis, and Policy Optimization. Journal of Regional Science, 1983, vol. 23, iss. 2, pp. 141–164. URL: Link
Batey P.W.J. Input-Output Models for Regional Demographic-Economic Analysis: Some Structural Comparisons. Environment and Planning A: Economy and Space, 1985, vol. 17, iss. 1, pp. 73–99. URL: Link
Bloom D.E., Freeman R.B. Economic Development and the Timing and Components of Population Growth. Journal of Policy Modeling, 1988, vol. 10, iss. 1, pp. 57–81. URL: Link90035-X
Rosenzweig M.R. Human Capital, Population Growth, and Economic Development: Beyond Correlation. Journal of Policy Modeling, 1988, vol. 10, iss. 1, pp. 83–111. URL: Link90036-1
Kelley A.C., Schmidt R.M. Aggregate Population and Economic Growth Correlations: The Role of the Components of Demographic Change. Demography, 1995, vol. 32, iss. 4, pp. 543–555. URL: Link
Solow R. Technical Change and the Aggregate Production Function. Review of Economics and Statistics, 1957, vol. 39, no. 3, pp. 312–320. URL: Link
Peterson E.W.F. The Role of Population in Economic Growth. SAGE Open, 2017, vol. 7, iss. 4, pp. 1–15. URL: Link
Prettner K., Prskawetz A. Demographic Change in Models of Endogenous Economic Growth. A Survey. Central European Journal of Operations Research, 2010, vol. 18, iss. 4, pp. 593–608. URL: Link
Elin A.M., Pashin N.P. [Problems of demography and their solutions in modern Russia]. Vestnik nauki i obrazovaniya = Bulletin of Science and Education, 2019, no. 17, pp. 19–28. URL: Link (In Russ.)
Vishnevsky A.G., Scherbakova E.M. [Demographic brakes of the economy]. Voprosy Ekonomiki, 2018, no. 6, pp. 48–70. (In Russ.) URL: Link
Magomadov N.S.-H., Shamilev S.R. [Analysis of the dynamics of the Russian Federation regions GRP production functions]. Sovremennye problemy nauki i obrazovaniya, 2014, no. 6. (In Russ.) URL: Link
Gusarova O.M., Kuzmenkova V.D., Komarov P.I. [Digital model of socio-economic development of regional actors]. Fundamental'nye issledovaniya = Fundamental Research, 2018, no. 8, pp. 42–47. URL: Link (In Russ.)
Ivchenko Yu.S. [Determination of the main factors of the gross regional product level by econometric modeling methods for the totality of regions of the Russian Federation]. Statistika i ekonomika = Statistics and Economics, 2019, vol. 16, no. 6, pp. 4–18. (In Russ.) URL: Link
Nizhegorodtsev R.M., Arkhipova M.Yu. [Factors of economic growth of the Russian regions: regresion-cluster analysis]. Vestnik UGTU–UPI. Seriya: Ekonomika i upravlenie = Bulletin of Ural State Technical University. Series Economics and Management, 2009, no. 3, pp. 94–110. URL: Link (In Russ.)
Gafarova E.A. [Modeling of regional development based on production functions]. Internet-zhurnal Naukovedenie, 2013, no. 3. (In Russ.) URL: Link
Novak M.A., Kozlova E.I., Karlova M.Yu. [Development of a model of the relationship between regional indicators of labor resources and gross regional product: theoretical aspect]. Ekonomika ustoichivogo razvitiya = Economics of Stable Development, 2020, no. 1, pp. 132–134. URL: Link (In Russ.)
Rzaev M.A.-R. [Growth of the population and its influence on the economic situation of the countries]. Nauka, tekhnika i obrazovanie = Science, Technology and Education, 2019, no. 5, pp. 69–75. URL: Link (In Russ.)
