Integral assessment of Russian regions economic development

Abstract

The article presents the methodology of integral assessment of Russian regions economic development. Currently, there is a significant number of methods to assess the state of country’s economy and individual regions, including Russia. However, they are often poorly formalized or difficult to implement. The authors offer the methodology to assess the economic development of Russia’s regions using the integral index which minimizes the number of the indicators used. The study applies objective indicators of official statistics which most fully and reliably reflect the essence of regional economic development in Russia such as: gross regional product, the cost of fixed assets adjusted for their depreciation, investments in fixed assets — all of them per capita. The methodology makes it possible to provide an annual assessment of Russian regions economic development to determine the specifics of regional policy.