Characteristics of the economic development of the multi-ethnic regions of Russia

Abstract

The aim of the present paper is to find out peculiar characteristics of the economic development of the multiethnic regions of Russia that are predetermined by social - economic and political changes at different stages of development of the country. The article takes an eclectic methodological approach to piece together extant literature and to discover new empirical knowledge about socioeconomic circumstances of the Russian multi-ethnic regions. The data source of our research is data of Rosstat (Federal State Statistics Serves) and data of Expert RA (International group of rating agencies). Such indicators as GRP, Unemployment Rate, Subsistence Level, Poverty Rate were taken from a database of Rosstat. To conclude, the multi-ethnic regions of the Russian Federation are generally lagging behind in terms of their socio-economic development. Development trends in the economic space of the Russian Federation suggest that this gap will only increase in the future. In this connection, it is necessary to study the economic and social spaces of the regions from the perspective of a possible increase of competitiveness, i.e. the creation and development of competitive advantages.