The Multiplicative Effect of the Resource Potential Formation on the Value of the Gross Regional Product

The article is devoted to the analysis of the impact that changes in the structure of investments in the formation of the resource potential of regional economic sectors have on the value of the regional investment multiplier and, as a consequence, the gross regional product. The article presents an analysis based on the influence of different types of production on the value of the regional investment multiplier. A model is proposed that formalizes the dependence of the regional investment multiplier value on the structure of investment distribution in the formation of the resource potential of different types of production by the regional economy. It is concluded that changes in the investment structure, all other things being equal, can lead to an additional increase in the value of the gross regional product (GRP). At the regional level, this will increase the competitiveness of the region’s economy by increasing the efficiency of resource use. At the national level, additional stimulation of regional GRP’s growth will lead to growth of gross domestic product (GDP). The relevance of research related to the analysis of directions for increasing the efficiency of using regional resources increases in the context of a shortage of these resources (labor, financial) in the modern Russian economy. The work uses methods of econometric analysis. The practical significance of the work is that the model proposed in it can be used to develop economic policies aimed at increasing the competitiveness of regional economies, as well as increasing GDP. The use of the results obtained in the study will improve the efficiency of the functioning of the Russian Federation regions economies.

1. Vedev A.L., Eremkin V.A., Tuzov K.A. High risks and weak pace of economic growth: Russia macroeconomic forecast for the medium term. Voprosy Ekonomiki, 2024, vol.2, pp.5-22 (in Russian). DOI: 10.32609/0042-8736-2024-2-5-22.

2. Eremin V., Nikitskaya E. Application of Multiplicative Effects to Manage the Formation of the Region’s Resource Potential. Sovremennaya konkurentsiya=Journal of Modern Competition, 2024, vol.18, no.3, pp.48-66 (in Russian). DOI: 10.37791/2687-0657-2024-18-3-48-66.

3. Ivchenko Yu. S. Determination of the main factors of the gross regional product level by econometric modeling methods for the totality of regions of the Russian Federation. Statistika i ekonomika=Statistics and Economics, 2019, vol.16, no.6, pp.4-18 (in Russian). DOI: 10.21686/2500-3925-2019-6-4-18.

4. Kuvalin D.B., Zinchenko Yu.V., Lavrinenko P.A., Ibragimov Sh.Sh., Zaytseva A.A. Russian Enterprises at the End of 2023: Recovery Growth against the Backdrop of Sanctions,Worsening Labor Shortages and Rising Credit Costs. Problemy prognozirovanija=Problems of Forecasting, 2024, no.3(204), pp.164-181 (in Russian). DOI: 10.47711/0868-6351-204-164-181.

5. Kudymov V.M. Vzaimosvyaz’ sotsial’no-ekonomicheskikh protsessov s pokazatelem valovogo regional’nogo produkta [The relationship between socio-economic processes and the gross regional product indicator]. Regional’naja jekonomika: teorija i praktika=Regional Economics: Theory and Practice, 2007, no.15, pp.42-51.

6. Makarov A.A., Veselov F.V., Malakhov V.A. Scenarios for Intensification of Economic and Energy Development in Russia. Problemy prognozirovanija=Problems of Forecasting, 2024, no.4(205), pp.102-119 (in Russian). DOI: 10.47711/0868-6351-205-102-119.

7. Mikhailova E.V. Evaluation of the effectiveness of economic management in the region. Biznes. Obrazovanie. Pravo=Business. Education. Law, 2007, no.1(38), pp.101-106 (in Russian).

8. Plotnikov V.A., Marshankulova A.A. External sanctions and the Russian economy: Status and prospects. Delovoi vestnik predprinimatelya=Entrepreneur’s Business Herald, 2022, no.10(4), pp.56-59 (in Russian).

9. Porter M. Mezhdunarodnaja konkurencija: konkurentnye preimushhestva stran [International Competition: Competitive Advantages of Countries]. Moscow, Alpina Publisher Publ., 2016, 947 p.

10. Silvestrov S.N., Bauer V.P., Eremin V.V. Estimation of the Dependence of the Investment Multiplier on the Structure of the Regional Economy. Ekonomika regiona=Economy of Region, 2018, vol.14, no.4, pp.1463-1476 (in Russian). DOI: 10.17059/2018-4-31.