Assessment of the level of socio-economic development of the Rostov region based on the balance of regional subsystems

Keywords: region, regional development, balanced development, balance, proportions, assessment, three-factor model

Abstract

Subject. The conditions determining the balanced development of regional subsystems depend on multiple factors that influence the degree of regional development of a certain region. In today's world, the balanced development of regional subsystems directly affects the level of socio-economic development of the regional economy.
Objectives. Justification of a methodological approach to assessing the region’s level of socio-economic development through the prism of the balance of its subsystems (social, environmental, and economic).
Methodology. The research methodology is based on a systematic approach, and in this work we used the following: general scientific and special analytical methods: logical analysis, used in the study of methods for assessing the balance of regional development; structural and logical analysis, allowing to organise and clarify the terminology in the conceptual framework of the “balanced development of the region”; generalisation and grouping (while selecting statistical indicators). Economic-mathematical and economic-statistical methods were also used to analyse and assess the relation between indicators, including the method of index correlations. It allows determining the degree of one indicator influencing another and evaluating their correlation. The method of visualisation was used to clearly demonstrate the results of the study and analytical data. It helped to present the obtained results in graphical or diagrammatic form so as to better understand their meaning and make conclusions. Comparative and economic analysis was used to analyse the balance of the region's component subsystems (social, environmental, and economic). Comparative analysis allows determining the differences and similarities between these components and assess their impact on the overall development of the region. Economic analysis identifies economic factors influencing the state of the region and assesses the efficiency of its subsystems’ operation. The method of expert assessment is used to justify a set of indicators and assess the efficiency of regional subsystems’ operation (social, environmental, and economic), which allows obtaining more objective and substantiated data for the analysis and assessment of the region’s activities.
Results.
The obtained results indicated that the development system of the Rostov region is imperfect, and social, environmental, and economic subsystems were not balanced. The assessment of the balance of regional development showed a low level of economic activity in the region, which was 1.9 points, being below the average value (from 2 to 3 points). This indicator means that the state of the socio-economic system is unstable, therefore, a mechanism must be created to regulate the balance of the target characteristics of the system. This will serve as a fundamental line for future research.
Discussion.
The obtained results were compared with the conclusions of researchers who assessed the level of socio-economic development of the region in the specified time periods based on an assessment of the balance of regional subsystems and made forecasts regarding the prospects for regional development.
Conclusions. The conducted analysis allowed making conclusions on the informative characteristic in the balance of regional development as a result of the influence of economic, social, and environmental factors on the region’s subsystems; the elemental composition of integral indicators for assessing the balance of regional subsystems in particular and regional development in general, including the informative side of assessing the socio-economic development of the region; and features of the methodological approach based on the scoring of regional development indicators.

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Author Biographies

Tatiana V. Ibragimkhalilova, Donetsk State University

Dr. Sci. (Econ.), Assoc. Prof.

Galina V. Golikova, Воронежский государственный университет

Dr. Sci. (Econ.), Assoc. Prof.

Karina O. Ovchinnikova, Donetsk State University

Graduate Student

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Published
2023-12-29
How to Cite
Ibragimkhalilova, T. V., Golikova, G. V., & Ovchinnikova, K. O. (2023). Assessment of the level of socio-economic development of the Rostov region based on the balance of regional subsystems. Proceedings of Voronezh State University. Series: Economics and Management, (4), 60-75. https://doi.org/10.17308/econ.2023.4/11689
Section
Regional Economy