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Factors influencing the socio-economic development of underdeveloped regions of Russia

Vol. 15, Iss. 12, DECEMBER 2019

Received: 11 September 2019

Received in revised form: 30 September 2019

Accepted: 18 October 2019

Available online: 13 December 2019


JEL Classification: O12, Q01, R11

Pages: 2259–2273

Mongush Sn.P. Tuvinian Institute for Exploration of Natural Resources of Siberian Branch of RAS (TuvIENR SB RAS), Kyzyl, Tyva Republic, Russian Federation

Avramchikova N.T. Reshetnev Siberian State University of Science and Technology (Reshetnev University), Krasnoyarsk, Russian Federation

ORCID id: not available

Subject A country demonstrates a sustainable development as a socio-economic system, if its regional sub-systems grow and develop properly. Due to various factors, the constituent entities of the Russian Federation differ significantly by their socio-economic development. Studying and decreasing the impact of adverse factors and revitalizing positive ones, regional economies and the overall country may become more competitive.
Objectives The study focuses on factors influencing key strands of socio-economic development in underdeveloped regions.
Methods We applied methods of statistical and factor analysis.
Results We analyzed key issues of the socio-economic development in underdeveloped regions and determined factors that directly and indirectly influence the socio-economic development in a regions. The article shows how underdeveloped regions work as part of the economic space of Siberia and the country as a whole. The sluggish development was found to prevent the sustainable socio-economic development of underdeveloped regions.
Conclusions and Relevance The factors cause key challenges to the socio-economic development of underdeveloped regions of Siberia. The national economic policy concerning underdeveloped regions has been pursuing the attainment of an acceptable socio-economic development and budgetary sufficiency of the Russian regions. Therefore, it is important to find genuine competitive advantages of underdeveloped regions, which would spotlight growth areas and activate the inner potential of the areas to accelerate the development and catch up with more developed regions.

Keywords: underdeveloped region, socio-economic development factor, socio-economic development


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