Analysis of Factors Influencing the Economic Development of Quasi-Corporations, on the Example of the Novosibirsk Region

Abstract

One of the priorities of our state is the effective financing of the regional economy. Not always directed financial flows fulfill state expectations and generate stable development of the regional economy. The research revealed that a single approach to financing regions does not represent the best strategy aimed at the development of the subjects of the Russian Federation as a whole. The study examined Novosibirsk region and analyzed various socio-economic factors affecting the gross regional product. Constructed factor models reflect the interrelation of factors influencing the economic growth of the region. In the conducted study, data for 2000-2020 was used, which made it possible to accurately assess the features of the region. Based on the analysis of the constructed models, we built a scheme of competent financing of various areas of development of the region, which will further achieve economic growth of Novosibirsk region by increasing the domestic regional product. The study found that high economic indicators of the regions generate their own approaches and principles in the financing of the regions enabling us to develop a competent policy of economic development of the state.