Modelling economic development of an industrial metropolis

Veniamin G. Mokhov and Vladimir G. Pluzhnikov
Additional contact information
Veniamin G. Mokhov: South Ural State University, Chelyabinsk, Russia
Vladimir G. Pluzhnikov: South Ural State University, Chelyabinsk, Russia

Journal of New Economy, 2024, vol. 25, issue 1, 69-86

Abstract: Current turbulence of external environment pushes the research towards exploring municipalities’ economic development. The purpose of the work is to devise a method for assessing the factors behind economic development of an industrial metropolis based on the construction of a production function. Theoretical propositions of macroeconomics and systems analysis constitute the methodological basis of the research. The main method is the construction of the Cobb–Douglas production function given autonomous Hicks-neutral technical change. The evidence is the data of the Federal State Statistics Service’s regional office of Chelyabinsk Region on the production output (volume of own production (works, service) shipped), cost of production assets, and payroll in the city of Chelyabinsk for 2014–2021, as well as price deflators. The model is formalised in the form of a computer program and is registered by the state, which reflects its practical value. The theoretical and methodological significance of the research consists in that for the first time in economic practice it demonstrates that individual elasticity coefficients can take negative values. The findings of the study can be used for forecasting the results of the interventions aimed at increasing the economic sustainability of an industrial metropolis.

Keywords: industrial metropolis; resourcing; municipal development; economic growth; production function (search for similar items in EconPapers)
JEL-codes: C51 D24 R15 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://jne.usue.ru/images/download/102/4.pdf (application/pdf)
https://jne.usue.ru/en/issues-2024/1421 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:url:izvest:v:25:y:2024:i:1:p:69-86

DOI: 10.29141/2658-5081-2024-25-1-4

Access Statistics for this article

Journal of New Economy is currently edited by Yelizaveta A. Belousova

More articles in Journal of New Economy from Ural State University of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Victor Blaginin ().