Effective Administrative Decisions in the Investment Industrial Sphere of the Region (Case of Republic of Bashkortostan, Russia)

DOI

10.2991/csis-18.2019.1How to use a DOI?

Keywords

hybrid economic and mathematical model; Cobb-Douglas production function; labor; capital; dynamic programming

Abstract

The objective of the research is to develop the hybrid economic and mathematical model allowing the state executive authorities to make effective administrative decisions in the investment industrial sphere of the region. The model is based on the application of two known methods: Cobb-Douglas production function and dynamic programming. At first the production capabilities of industrial complex branches in the region of the state are estimated. The constructibility of one general production function for several branches of an industrial complex of territorial entity of Russia is empirically estimated (based on the calculation and the analysis of indicator values of resourse productivity). Then, the problem of optimum distribution of state investor's limited financial resources between the branches of industrial complex of the region is solved. The hybrid model has been tested based on the data of regional statistics for 2006-2016 evidence from the Republic of Bashkortostan, Russia. The approach, presented in the research, is universal, i.e. it can be applied for updating provisions of the state investment and industrial policy not only in any federal subject of Russia, but regions of any country in the world having federal framework.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Fanil Fayzullin
AU  - Evgeniy Dzyuba
AU  - Azat Yangirov
AU  - Roman Gubarev
AU  - Viner Akhmetshin
PY  - 2019/02
DA  - 2019/02
TI  - Effective Administrative Decisions in the Investment Industrial Sphere of the Region (Case of Republic of Bashkortostan, Russia)
BT  - Proceedings of the International Conference Communicative Strategies of Information Society (CSIS 2018)
PB  - Atlantis Press
SP  - 1
EP  - 7
SN  - 2352-5398
UR  - https://doi.org/10.2991/csis-18.2019.1
DO  - 10.2991/csis-18.2019.1
ID  - Fayzullin2019/02
ER  -