+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Regional Economics: Theory and Practice
 

Behavior of the local economic system: An analysis methodology and classification of sustainability conditions

Vol. 15, Iss. 11, NOVEMBER 2017

PDF  Article PDF Version

Received: 7 September 2015

Received in revised form: 24 September 2015

Accepted: 7 October 2015

Available online: 15 November 2017

Subject Heading: THEORY OF REGIONAL ECONOMY

JEL Classification: E32, P51, R11

Pages: 1992–2014

https://doi.org/10.24891/re.15.11.1992

Gurban I.A. Institute of Economics, Ural Branch of Russian Academy of Sciences, Yekaterinburg, Russian Federation
inessagurban@gmail.com

Pecherkina M.S. Institute of Economics, Ural Branch of Russian Academy of Sciences, Yekaterinburg, Russian Federation
maria09.06@mail.ru

Importance The research develops an algorithm for analyzing the economic system behavior in a certain region, considering changes in the national economy.
Objectives The research determines the economic system behavior of the Ural Federal District in relation to the Russian economy, and economic system of the Sverdlovsk oblast in relation to the economy of the Ural Federal District.
Methods Using the dynamics time series analysis, we assessed the sustainability of a subordinate system against a superior one and proposed the classifier describing how the subordinate system responded to changes in the main system.
Results The article shows growth trends in the industrial production index of Russia, Ural Federal District and the Sverdlovsk oblast, provides the assessment of the industry within the 1997–2015 period, focusing on the years of crisis.
Conclusions and Relevance The economic system of the Ural Federal District has been proved to be vulnerable against the national economy. In 2014, the economy of the Ural Federal District was less susceptible to the national crisis. In 1998 and 2009, the economy of the Sverdlovsk oblast was less stable against the economy of the Ural Federal District. In 2014, the economy of the Sverdlovsk oblast responded in a different way, being sustainable and growing.

Keywords: region, sustainable development, economic crises, growth rates, industrial production index

References:

  1. Floridi M., Pagni S., Falorni S.L., Luzzati T. An Exercise in Composite Indicators Construction: Assessing the Sustainability of Italian Regions. Ecological Economics, 2011, vol. 70, iss. 8, pp. 1440–1447.
  2. Bell D., Morse S. Sustainability Indicators: Measuring the Immeasurable? London, Earthscan, 2008, 228 p.
  3. Rotmans J. Tools for Integrated Sustainability Assessment: A Two-Track Approach. Integrated Assessment – Bridging Sciences & Policy, 2006, vol. 6, no. 4, pp. 35–57.
  4. Parris T.M., Kates R.W. Characterizing and Measuring Sustainable Development. Annual Review of Environment and Resources, 2003, no. 28, pp. 559–586.
  5. Ginevicius R., Hogeforster M., Gedvilait D. The Formation of the System of Indicators of Development of the Country's Regions. Proc. 8th Int. Sci. Conf. Business and Management 2014, May 15–16. Lithuania, Vilnius, Vilnius Gediminas Technical University, 2014, pp. 503–510.
  6. Akaev A.A. [Big cycles of economic conditions and the Schumpeter–Kondratieff theory of innovation and cyclical economic growth]. Ekonomicheskaya nauka sovremennoi Rossii = Economic Science in Modern Russia, 2013, no. 2, pp. 7–28. (In Russ.)
  7. Glaz'ev S.Yu. [The modern theory of long waves in economic development]. Ekonomicheskaya nauka sovremennoi Rossii = Economic Science in Modern Russia, 2012, no. 2, pp. 27–42. (In Russ.)
  8. Korotaev A.V., Grishin L.E. N.D. [N.D. Kondratieff and the Kondratieff waves in global technological and innovative activities]. Ekonomicheskaya nauka sovremennoi Rossii = Economic Science in Modern Russia, 2013, no. 2, pp. 128–136. (In Russ.)
  9. Dement'ev V.E. [Investment milestones for fixing dates of long waves as part of economic development]. Ekonomicheskaya nauka sovremennoi Rossii = Economic Science in Modern Russia, 2013, no. 4, pp. 23–39. (In Russ.)
  10. Eichengreen B., Rose A., Wyplocz C. Contagious Currency Crises: First Tests. Scandinavian Journal of Economics, 1996, no. 98, pp. 463–484.
  11. Freixas X., Parigi B. Contagion and Efficiency in Gross and Net Interbank Payment Systems. Journal of Financial Intermediation, 1998, vol. 7, iss. 1, pp. 3–31.
  12. Masson P.R. Contagion: Monsoonal Effects, Spillovers, and Jumps Between Multiple Equilibria. IMF Working Papers, 1998, no. 98/142, p. 4.
  13. Azis I.J., Mitra S., Baluga A. Global Shock and Regional Spillovers. Peace Economics, Peace Science and Public Policy, 2013, vol. 13, iss. 2, pp. 183–211.
  14. Panizza U., Sturzenegger F., Zettelmeyer J. The Economics and Law of Sovereign Debt and Default. Journal of Economic Literature, 2009, vol. 47, no. 3, pp. 65–98.
  15. Shavshukov V.M. [Global finance crises (1997–2013)]. Vestnik Sankt-Peterburgskogo universiteta. Seriya 5. Ekonomika = Bulletin of St. Petersburg University. Series 5. Economics, 2013, no. 4, pp. 87–109. (In Russ.)
  16. Tsvetkov V.A. Tsikly i krizisy: teoretiko-metodologicheskii aspekt [Cycles and crises: theoretical and methodological considerations]. Moscow, Nestor-istoriya Publ., 2013, 504 p.
  17. Senchagov V.K., Mityakov S.N. [A comparative analysis of the impact of the 1998 and 2008–2009 financial and economic crises on Russia's economic security indicators]. Vestnik Finansovogo universiteta = Bulletin of the Financial University, 2013, no. 6, pp. 71–88. (In Russ.)
  18. Mityaev D.A. [Crisis management objectives]. Ekonomicheskie strategii = Economic Strategies, 1999, vol. 1, no. 1, pp. 77–88. (In Russ.)
  19. Kudrin A.L. [Global financial crisis and its impact on Russia]. Voprosy Ekonomiki, 2009, no. 1, pp. 9–27. (In Russ.)
  20. Frolov D. [Theory of crises after crisis: technologies versus institutions]. Voprosy Ekonomiki, 2011, no. 7, pp. 17–33. (In Russ.)
  21. Lavrov S.Yu. [Macroeconomic basis for the cyclical nature of economic development under modern circumstances]. Zhurnal ekonomicheskoi teorii = Journal of Economic Theory, 2014, no. 1, pp. 122–134. (In Russ.)
  22. Sukharev O.S. [The economic theory of crises: a retrospective view and contemporary times]. Zhurnal ekonomicheskoi teorii = Russian Journal of Economic Theory, 2014, no. 3, pp. 30–46. (In Russ.)

View all articles of issue

 

ISSN 2311-8733 (Online)
ISSN 2073-1477 (Print)

Journal current issue

Vol. 22, Iss. 3
March 2024

Archive