INDUSTRY OF MOSCOW REGION AS A KEY FACTOR IN OVERCOMING THE CRISIS OF THE RUSSIAN ECONOMY

Abstract

The negative influence of exogenous factors (external economic and political pressure) and endogenous factors (traditional internal social and economic problems) gives grounds to assert that now Russia is in the midst of a serious economic crisis, aggravated by consequences of the COVID-19 pandemic. Official statistics show a decrease in industrial production, a drop in real incomes, an increase in the unemployment rate. In this regard, Moscow and the Moscow region is a key point of growth of the national economy with its labor, material, financial, and technological resources. It can contribute to socio-economic development of the region itself and its neighboring territories through the implementation of joint innovative projects. Manufacturing facilities of Moscow region play a major role in ensuring economic growth and transformation of economic institutions, as well as in identifying and sharing good practices with other regions of Russia. The article presents the results of the analysis of the main socio-economic indicators of the development of Moscow region in 2016-2020, including the dynamics and structure of manufacturing facilities (in comparison with all-Russian performance indicators). The factors contributing to the formation of the leading positions in the economic development of Moscow region are highlighted. The author's conclusions and recommendations for improving the economic, industrial, and sectoral policy in the regions are formulated.

Keywords

Moscow region, national economy, industry, regional economy, socio-economic development, point of economic growth

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About the Authors

Mikhail Ya. Veselovsky – Doctor of Economics, Professor; Head of the Department, LEONOV Moscow Region University of Technology, Korolev, Russia. E-mail: consult46@bk.ru. SPIN РИНЦ 8335-7740. ORCID 0000-0002-1078-3235
Vladislav I. Nikolaev – Graduate Student; LEONOV Moscow Region University of Technology, Korolev, Russia. E-mail: NikolaevVladislav96@ya.ru. SPIN РИНЦ 8709-3141

For citation

Veselovsky M.Ya., Nikolaev V.I. Industry of Moscow Region as a Key Factor in Overcoming the Crisis of the Russian Economy // BENEFICIUM. 2021. Vol. 1(38). Pp. 83-89. (In Russ.). DOI: 10.34680/BENEFICIUM.2021.1(38).83-89