World economy and international economic relations

Industry-specific factors under the conditions of the Russian economy recession

Economic Annals-XXI

Economic Annals-ХХI: Volume 157, Issue 3-4(1), Pages: 35-37

Citation information:
Belousova, L., & Kritskaya, O. (2016). Industry-specific factors under the conditions of the Russian economy recession. Economic Annals-XXI, 157(3-4(1)), 35-37. doi: https://doi.org/10.21003/ea.V157-0010

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Larisa Belousova
D.Sc. (Economics),
Associate Professor,
Economics, Management and Politics Department,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russia
bellars2010@yandex.ru

Olga Kritskaya
PhD (Sociology),
Associate Professor,
Regional Economics and Management Department,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russia
olga.kritskaya27@yandex.ru

Industry-specific factors under the conditions of the Russian economy recession

Abstract. In the context of the Russian economy’s crisis in 2014-2015, there is an urgent need to enhance the role of exporters in restoring economic growth. Currently, traditional hubs have almost outlived their usefulness and it is necessary to reveal new production resources that will work for the export potential of the Russian Federation. In this regard, the Russian Government must pay attention to the activity of certain regions of Central Russia which constitute the part of the Central Federal District. The Open Joint Stock Company «Mikhailovsky GOK» has been a historically leading exporter of Kursk region. It produces metallurgical ore that has been mainly delivered to the People’s Republic of China. However, the model created by the authors of the present paper allows us to identify the latent factors that determine the Gross Regional Product correlation with the leading exporter of the region.

Keywords: Export Potential; Russian Exporters; Behavioural Model; Correlation Dependence Between GRP and Export

JEL Classification: F17; F40

DOI: https://doi.org/10.21003/ea.V157-0010

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Received 16.01.2016

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