Econometric modeling of the relationship between the entrepreneurship development and average wage rate at the regional level: The Russian Federation case study
Subject. This article discusses the issues related to ensuring economic advancement, improving the quality of life, developing the education system. Objectives. The article aims to develop a mathematical model that could help assess the impact of various socioeconomic factors on the level of entrepreneurial activity. Methods. For the study, we used the regression and comparative analyses. Results. The article determines certain indicators and factors that significantly correlate with and impact the average wage rate in the regions of Russia. Conclusions. The study confirms the hypothesis about the positive impact of entrepreneurial activity on the average wage rate in the regions of Russia.
Keywords: region, average wage, entrepreneurship, socioeconomic development
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