Methodology and instruments of strategizing of socio-economic development of the region

D. M. Zhuravlev (), A. N. Trotsenko () and V. K. Chaadaev ()

Russian Journal of Industrial Economics, 2022, vol. 15, issue 2

Abstract: The practice of using quantitative models of socio-economic development to fulfil the tasks of regional strategizing is a common trend. However, the significance and the area of practical application, functionality and, consequently, the effectiveness of applying such models in the context of strategizing is still a matter for further research. The article deals with the methodology and the instruments of strategizing which combines analysis, forecasting and management procedures oriented on the balanced assessment and search for the priority development trends in the conditions of increasing resource limitations and external threats. The authors developed a universal economic-mathematical model of functioning of the socio-economic system of the region. The system reproduces the dynamics of the key processes, the suggested instruments automatically form and work out the predictive options for advanced development. Algorithmic technique used for modelling provides the opportunity for effective reduction of dimension of the space of variables for the tasks of searching and analyzing indicators’ dependencies on factors, excluding the need for direct accounting of hard-to-distinguish mutual dependencies of initial statistics indicators and actually reducing the problem to building paired linear regressions of the indicator indices to factor indices. The authors also have solved the task of evaluation of attainability of the declared target landmarks in preparing long-term targeted programs. Using the designed application as the instrument of strategizing of regional development may significantly facilitate the search for and justification of important areas of economic activity in terms of global uncertainty and limited resources.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2022:id:1040

DOI: 10.17073/2072-1633-2022-2-131-142

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