Problems of region’s economic development and human resources management

Economic Annals-ХХI: Volume 141, Issue 5-6, Pages: 48-51

Citation information:
Kutaev, Sh. (2014). Problems of region’s economic development and human resources management. Economic Annals-XXI, 5-6, 48-51. https://ea21journal.world/index.php/ea-v141-12/

Shihragim Kutaev
D.Sc. (Economics),
Institute of Social and Economic Research of the Dagestan Scientific Centre of the
Russian Academy of Sciences
75 Yaragskiy Str., Makhachkala, 367030, Russia
kutaev.sh@mail.ru

Problems of region’s economic development and human resources management

Abstract. Introduction. Russian regions differ significantly from each other in terms of socio-economic development, unemployment, investment attractiveness, and degree of industrialization. Topicality of the problems of regional socio-economic development of the North Caucasus Federal District is enhanced by the fact that multiple differences on key indicators are resulting in a significant difference in the level of unemployment, income and quality of life of the population. This situation indicates usage of inefficient methods (tools) and approaches in state regulation of the economy and wounds the regional workforce in North Caucasus Federal District. That highlights the revitalization of public authorities to identify points of economic growth, development priorities within the District for the purpose of levelling the negative consequences of the current crisis situation. Purpose. Determination of the major problems hindering the sustainable socio-economic development of North Caucasus Federal District and development of recommendations to improve the situation in the area. Methods. The paper applied the methods of comparison, economic and statistical analysis. Results. The study enables us to provide the following results: 1. The basic key problems of economic development and social and labor sphere prevent formation of favorable investment climate. 2. It is determined that under the conditions of labor surplus, competition in the form of civilized market is not possible, because labor supply far exceeds demand. 3. It is proposed to reduce the education system, and the scope of professional training in line with the real needs of the economy and social sphere 4. It is revealed that labor surplus and shortage of jobs in republics of North Caucasus Federal District causes large migration outflow. Conclusion. Account of the obtained results will reduce negative trends of the crisis, creating conditions of stability for socio-economic system functioning.

Keywords: Russian Regions; Regional Economy; Labor Market; Workforce; Migration; North-Caucasian Federal District.

JEL Classification: J23; J68; R23

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Received 23.03.2014