Regional Development and Total Factor Productivity in the Regions of Russia
Authors study total factor productivity in the Russian regions for 2014 and its growth over the period 2000-2014. The methodology is based on the Cobb - Douglas function with constant returns to scale. The authors have estimated econometric equations of the value and dynamics of total productivity depending on various factors. It was shown that regions with low dynamics of total productivity received the largest volume of resources, and vice versa. It is also shown that the growth of productivity is positively influenced by both factors of new economy (computer and Internet, development of new technologies, etc.) and the traditional economy (housing and food supply, the share of youth in the population, etc.). The factors that have had the strongest negative impact on productivity growth are the strong alcohol consumption and crime. The authors conclude that the acceleration of economic growth of Russian regions requires more rational investment in fixed assets, as well as increased investment in science and education.