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
Etzioni A., Lawrence P.R. (eds). Socio-Economics: Toward a New Synthesis. Armonk, New York – London, M.E. Sharpe Inc., 1991, рp. 347–352.
Tasueva T.S., Alieva E.M. [The current problems of rebuilding the productive sphere of the Chechen Republic and how to solve them]. Vestnik Tomskogo gosudarstvennogo universiteta = Tomsk State University Journal, 2009, no. 318, pp. 186–190. (In Russ.)
Bisultanova A.A. [Investment attraction of the Chechen Republic: a current situation]. International Scientific Review, 2015, no. 7, pp. 26–27. (In Russ.)
Larsaeva L.D., Magomadova M.M. [Assessment of the socio-economic development of the region: the Chechen Republic case study]. Teoreticheskie i prikladnye aspekty sovremennoi nauki, 2014, no. 1, pp. 85–89. (In Russ.)
Mambetova F.A., Marshanov B.M. [Assessment of the region's socio-economic potential]. Izvestiya Kabardino-Balkarskogo nauchnogo tsentra RAN = News of Kabardino-Balkarian Science Center of Russian Academy of Sciences, 2010, no. 4, pp. 33–42. (In Russ.)
Mambetova F.A., Sabanchiev A.Kh. [An organizational and institutional model for management of the development of the southern regions of Russia]. Ekonomicheskie nauki = Economic Sciences, 2012, no. 90, pp. 107–112. (In Russ.)
El'gukaeva L.A., Alacheva A.A., Bisultanova A.A. [Problems of analyzing the sustainable development of the socio-ecological and economic system of the region]. Izvestiya Kabardino-Balkarskogo nauchnogo tsentra RAN = News of Kabardino-Balkarian Science Center of Russian Academy of Sciences, 2009, no. 5, pp. 82–88. (In Russ.)
Alibasov M. [Prerequisites for the sustainable development of the region]. Vestnik Chuvashskogo universiteta, 2007, no. 3, pp. 371–373. (In Russ.)
Alibasov M. [Problems of transition of the Chechen Republic to sustainable development]. Vestnik Moskovskogo universiteta. Ser. 6. Ekonomika = Moscow University Economics Bulletin, 2007, no. 4, pp. 87–91. (In Russ.)
Skotarenko O.V. [Russian practices in assessing the level of socio-economic development in the region]. Fundamental'nye issledovaniya = Fundamental Research, 2013, no. 1-3, pp. 823–829. (In Russ.)
Granberg A., Masakova I., Zaitseva Yu. [Gross regional product as an indicator of the differentiation of the economic development of regions]. Voprosy Statistiki, 1998, no. 9, pp. 3–12. (In Russ.)
Urbanaev O.L. [Assessment of the development of regional systems]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2012, no. 3, pp. 220–223. (In Russ.)
Nikolaev M.A., Mal'tsagova T.M. [A mechanism for financing the investment process at the regional level]. Nauchno-tekhnicheskie vedomosti SPbGPU. Ekonomicheskie nauki = Saint-Petersburg Polytechnic University Journal of Engineering Science and Technology, 2011, no. 3, pp. 138–143. (In Russ.)
Bataeva Ya.D., Israilov M.V. [Trends in the industrial sector of the Chechen Republic's economy]. Fundamental'nye issledovaniya = Fundamental Research, 2012, no. 11-2, pp. 488–492. (In Russ.)
Magomadova M.M. Sotsial'no-ekonomicheskoe vozrozhdenie Chechni. V kn.: Chechnya na rubezhe vekov: sostoyanie i perspektivy [The socio-economic revival of Chechnya. In: Chechnya at the turn of the century: status and prospects]. Grozny, Regional'naya obshchestvennaya organizatsiya Intellektual'nyi tsentr Chechenskoi Respubliki Publ., 2004, vol. 1, pp. 175–179.
Timigova L.A.-V. [The social and economic revival of Chechnya and its prospects for development]. Aktual'nye problemy gumanitarnykh i estestvennykh nauk = Topical Issues of Humanities and Sciences, 2013, no. 10, pp. 247–249. (In Russ.)