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Authors : 1. Elizaveta E. Kolchinskaya,
PhD (Economics), associate рrofessor
Saint Petersburg state economics university, Saint Petersburg, Russia,
2. Svetlana N. Rastvortseva,
doctor of economics, associate professor, professor
Belgorod state national scientific-research university, Belgorod, Russia
Research of the factors of industrial growth in Russia using the production function
Objective: to construct and analyze production functions for the Russian industrial sectors.
Methods: correlation-regression analysis.
Results: the carried out analysis resulted in constructing three industrial functions: for processing industries, mining enterprises and electricity, gas and water producing and distributing enterprises. The analysis of the obtained coefficients showed that in processing industries the main factor of production growth is the increase in labor volumes. For the extractive industry the capital is much more important. The third sector did not allow to construct a model with high determination coefficient.
Scientific novelty: production functions are constructed for the three industrial sectors in Russia; the approach is proposed for constructing the production functions for the Russian sectors, taking into account the limitations of statistical data; conclusions are made about the growth factors of processing and extractive enterprises in Russia.
Practical value: the proposed model allows to predict the industrial development of Russia depending on the changes in resources volume invested into industry.
Keywords :
Cobb-Douglas production function; panel data
Bibliography :
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Citation :
Type of article : The scientific article
