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The Study of Regional Industrial Structure Resilience to Cyclical Crises
2021 Март 24, 16:49
Abstract: When forming economic policy, the question always arises: is there a long-term growth trend in the economy now, or is there a short-term economic growth associated with fluctuations in the business cycle? There are several approaches to answering this question. The first is oriented on the determine the phases of the business cycles. The second approach is to study the long-term growth trend and cycles as deviations from this trend. In mod-ern works, was proved the regularity between the nature of the cycle and the elasticity of substitution of the utility function of a representative agent. In other words, as the economy stabilizes, the risk appetite increases, and it de-termines the greater impact of external shocks. In times of crisis, when un-certainty increases, on the contrary, the propensity to risk decreases and the dynamics of the cycle becomes more coherent with the long-term develop-ment trend. This fact makes considered the infrastructure as a factor of busi-ness cycle stabilizer. So the infrastructure should not be considered in the context of a competitive market. Since it is reflecting two types of market failures: technological indivisibility and planned increasing returns on scale. Using the method of mathematical clustering based on data from 2000-2018, the article identifies regions of Russia with different characteristics of the re-lationship between industrial and transport complexes. Complementing the study with an assessment of the overall dynamics of economic growth, the author identifies key industries and effects that occur in regions of the North-Western Federal District.

Для цитирования:

Roslyakova N. The Study of Regional Industrial Structure Resilience to Cyclical Crises / International science and technology conference "Earth science" IOP Conf. Series: Earth and Environmental Science 666 (2021) 062055 - pp. 1-6. DOI: 10.1088/1755-1315/666/6/062055


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