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Identifying the Factors that Contribute to Sustainable Development of the National Economy

N.M. Abdikeev, Yu.S. Bogachev and M.V. Melnichuk

European Research Studies Journal, 2018, vol. XXI, issue 2, 411-425

Abstract: The structural imbalance is the main problem hindering the development of the Russian national economy. It leads to significant difference in economic efficiency of various industrial sectors. Moreover, the structural imbalance adversely affects the interaction between industries and hampers to foster an enabling environment that would accelerate economic growth consistent with the principles of sustainable development. The right balance between economic sectors provides favorable conditions for a successful interaction between industries.The article suggests the methodology intended to identify the factors contributing to sustainable development of the national economy, to assess the status of the economy as well as to estimate the dynamics of economic growth. The methodology is a promising approach building a network of interactions between different industries to deepen the diversification of economic sectors. The authors propose a set of indicators - indicators of economic imbalances - that allow, based on primary statistical data, to quantitatively determine the degree of difference and the changing dynamics in economic, financial, technological and social characteristics of several economic sectors.The paper details the developed system of monitoring and multi-criteria evaluation of growth in several economic sectors. The system makes it possible to estimate key factors affecting sustainable development of the economy as well as to get the right diagnosis of economic processes that shape the sectoral structure of the Russian economy.

Keywords: Sustainable development; indicators of imbalance; coefficient of sustainability; factors of sustainable development; sectoral complexes; optimum structure. JEL Code: L51; L52. (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:ers:journl:v:xxi:y:2018:i:2:p:411-425