RESEARCH ON INDUSTRIAL DEVELOPMENT FACTORS FOR THE FORMATION OF INDUSTRIAL POLICY OF THE ASTRAKHAN REGION (RUSSIA)

Svetlana Arutyunyan, Elena Gadzhieva, Oksana Mineva

Abstract


The article describes the major aspects of industrial policy of the Astrakhan Region under conditions of current competition between the states of the Caspian Sea region in the development of transport, oil and gas, shipbuilding clusters and the intensification in the activities of Azerbaijan, Kazakhstan, Iran, and Turkmenistan to increase their production potential and improvement of its efficiency. The authors come to the conclusion that it is possible to use the production function to create the model of a long-term regional industrial policy. The results of the industrial activity of the Astrakhan Region over the past decade, problems, factors and prospects of the development are analyzed. The patterns and trends of the development in the industries of the Astrakhan Region are studied applying the Cobb-Douglas production function; it is concluded on the dynamics of the economic efficiency of some industrial production sectors and on the possibility of using the production functions to assess the influence of different factor groups on the economic growth. The authors classify and characterize the factors of economic growth. They make a distinction between “production intensification” and “economic efficiency”, consider the problems impeding the industry development and specify the points for the growth of industrial production. The conclusion is drawn on the need to relate the industrial policy of the Astrakhan Region and Russia in general to the leading states of the Caspian Sea region which will contribute to ensuring the economic security of our state and the need to intensify the industrial production of the region.


Keywords


production function; Cobb-Douglas function; mathematical models; economic growth factors; elasticity factors; industrial policy; production intensification; economic efficiency; extensive factors; intensive factors

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