Instruments for enhancing regional policy to develop the entrepreneurial environment in the Voronezh region

Abstract

Importance: this study focuses on tools and mechanisms for enhancing regional economic policy aimed at developing and improving the business environment in the Voronezh Region. Particular attention is given to both analytical approaches to assessing the current situation and the development of policy measures to stimulate business activity and attract investment in the region. Purpose: the goal is to develop, using international rankings, statistical data from the Russian Federation, and the Voronezh Region, instruments to enhance regional policies aimed at increasing the attractiveness of the regional entrepreneurial environment. Research design: the research employs monographic, economic-statistical, logical methods, and correlation-regression analysis to identify key factors of the entrepreneurial environment and evaluate their interrelations and dynamics. The data sources include: 1) official statistics reinterpreted in the context of the study’s objectives; and 2) strategic planning documents for the Voronezh Region, ensuring a comprehensive analysis of regional specifics. Results: the analysis indicates that the instrumental framework for developing the entrepreneurial environment in the region should be structured into two core components: analytical and planningforecasting component. Key instruments in the analytical component include comparative analysis of macro- and meso-environment indicators, cluster analysis, correlation-regression analysis, and expert evaluations. The planning-forecasting component should incorporate programs for developing elements of production and innovative infrastructure, human capital (increasing wages, internships and practices, personnel training), self-employment, improving the institutional environment, transaction protection, as well as informational events and support measures, including subsidizing youth vocational training for priority sectors.