Regional Economics: Theory and Practice
 

Regional development strategy: Issues of determining the realization effectiveness

Vol. 15, Iss. 8, AUGUST 2017

Received: 17 April 2017

Received in revised form: 15 May 2017

Accepted: 1 June 2017

Available online: 15 August 2017

Subject Heading: REGIONAL STRATEGIC PLANNING

JEL Classification: Е27, Е60

Pages: 1428–1441

https://doi.org/10.24891/re.15.8.1428

Balakina G.F. Tuvinian Institute for Exploration of Natural Resources of Siberian Branch of Russian Academy of Sciences, Kyzyl, Tyva Republic, Russian Federation balakina.gal@yandex.ru

Importance The article discusses tools to analyze the impact of priority development areas.
Objectives The article aims to develop a model for assessing the effectiveness of the region's socio-economic development strategies.
Methods For the study, I used a systems approach to analyze the economic and social sectors of the regions, and the methods of factor analysis, expert estimates, and calculation of semantic differential and multiplicative effect.
Results The scientific novelty of the results lies in the modification of the model for comparative effectiveness assessment of development strategies of the region. The article presents a methodology for comparative assessment of the impact of possible (alternative) development strategies of the region, and the algorithm for determining the performance indicator based on the multiplicative economic impact indicator and expert estimates. As well, the article presents the results of testing of the methodology using the case of possible development strategies for the Tyva Republic up to 2020.
Conclusions and Relevance To assess the effectiveness of the chosen strategy, it is useful to apply the multiplicative economic effect indicator, based on a systems assessment of the expected effectiveness of the proposed investment projects in the strategic perspective. The results of the study can be used by public authorities in developing regional development strategies, research organizations to justify methodological approaches to modernize the economy, and higher education institutions in the formation of training courses on strategic planning of the regional economy.

Keywords: strategic direction, multiplicative effect, impact, development

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