Analysis of factors determining the effectiveness of socioeconomic development of the regions of the Russian Federation: Evidence from the Astrakhan Oblast
Mikhail D. ANTIPOVCorresponding author, Astrakhan State Technical University (ASTU), Astrakhan, Russian Federation Moscow, Russian Federation veb.atix@yandex.ru ORCID id: not available
Subject. Realizing the economic potential of Russia's regions and its impact on improving people's living standards and quality of life. Objectives. Comparison of economic and demographic indicators of the Astrakhan Oblast with a number of Russian regions that are similar to the Astrakhan Oblast in terms of gross regional product per capita. Methods. Economic and statistical, comparative analysis. Results. Astrakhan Oblast has lower average per capita income and a higher poverty rate compared to the averages for Russia and the median for the group of regions studied. Life expectancy is lower than the Russian average, and there is a consistent population outflow due to migration. In terms of the economic structure, mineral extraction dominates in Astrakhan Oblast, which explains the significant share of profits in the gross regional product despite a relatively low share of wages. Conclusions. Being comparable to other regions in terms of gross regional product per capita isn't enough to ensure the population's well-being. To boost the socioeconomic development of the Astrakhan Oblast, a set of measures is needed, aimed at diversifying the economy, reducing poverty, improving quality of life, and making the area more attractive for migration.
Keywords: gross regional product, regional development, income level of the population, life expectancy, Astrakhan Oblast
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