Regional Economics: Theory and Practice
 

Industrial production of the Chechen Republic: Relevant aspects of development

Vol. 15, Iss. 8, AUGUST 2017

Received: 24 March 2017

Received in revised form: 20 April 2017

Accepted: 25 May 2017

Available online: 15 August 2017

Subject Heading: SUSTAINABLE DEVELOPMENT OF REGIONS

JEL Classification: O25

Pages: 1501–1515

https://doi.org/10.24891/re.15.8.1501

Bisultanova A.А. Chechen State University, Grozny, Chechen Republic, Russian Federation zhanno44ka@mail.ru

Subject The article considers the issues of development of the industrial sector of the Chechen Republic.
Objectives The article aims to analyze the condition of industrial production of one of the most underdeveloped subjects of the North Caucasian Federal District, reveal its features, and identify the possibilities for improving the situation for the Chechen Republic.
Methods To analyze the industrial sector development indicators of the Chechen Republic in a given period, I used econometric methods.
Results The article presents an assessment of the level of industrial production of the Chechen Republic through the provision and analysis of benchmarks. It identifies the key problems and shortcomings in the industrial management system, and describes the main trends in the industrial sector of the economy of the Republic. As well, the paper proposes certain guidelines for improving the management of the industrial complex.
Conclusions To improve the current negative situation in the industrial sector of the Chechen Republic, it is necessary to increase control over the spending of government program funds and, eventually, eliminate the practice of gratuitous budget injections in unprofitable enterprises. Without investment sites provision with proper resources, the intensification of the investment process in the region is difficult to achieve.

Keywords: industrial production, State support, budget, investment site

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