Methodological Approaches to Assessing Regional Development

This chapter deals with methodological approaches to the analysis of regional development. The subject of the study is the socio-economic processes that determine the development of the region. Since in recent years, there has been an increasing unevenness in the development of Russian regions; this aims at the inevitable search for unity of regional and Russian economic policy aimed at smoothing spatial inequalities. Analysis is an important link in the management and determination of the foundations of a regional economic policy based on the current state of the economy and focused on achieving economic advantages by the region, taking into account the exceptional diversity of natural, geopolitical, socio-economic, national-cultural, and other conditions that ensure the effective development of the region. The author reveals the concept of the methodological base for analyzing the development of the regional economy, its goals and objectives, methodological approaches to system analysis and also defines the foundations of the political analysis of the regional economy, since economic policy is reflected in the response of business, stimulating entrepreneurial initiatives. Stating that the regional economy is a rather complex object of study both in terms of analysis and forecasting of its development, the author considers the considered methods of analysis to be far from exhaustive. It is necessary to take into account a large number of factors influencing regional development. At the same time, the main methodological approaches to the analysis of the state of the region’s economy, presented in the chapter, allow using them in assessing the socio-economic processes taking place in the region, assessing the consequences of political decisions on entrepreneurial activity, the formation of the investment climate, and more. The author concludes that the use of various methods of analysis and their improvement contributes to the formation of a positive economic policy that stimulates the economic growth of the regional economy.