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Authors : 1. Elena A. Tretyakova,
Doctor of Economics, Professor, Professor of the Department of World and Regional Economy and Economics
Perm State National Research University
2. Tatyana V. Alferova,
PhD (Economics), Associate Professor, Associate Professor of the Department of Management
Perm State National Research University
Production function and production cycle: specific features of municipal entities of the Perm Territory
Objective: to identify the upward and downward waves of production cycle in the Perm region municipalities and to characterize fluctuations using the production function model.
Methods: economic and mathematical modeling, correlation and regression analysis, time series analysis.
Results: statistically significant models are constructed characterizing the dynamics of the volume of shipped goods of own production, works and services performed, for each municipality and the Perm region as a whole; the trend and cyclic component of each time series are identified; the production cycle duration is determined. Statistically significant production functions are constructed; the main indicators of labor and capital resources efficiency are defined; their values’ dynamics is analyzed in the context of the revealed cyclic fluctuations. The resources efficiency indicators, calculated by means of production function, showed that the amount of the produced goods in the Perm region municipalities is most influenced by labor resources consumption. It is found that the fluctuations of average and marginal efficiency of resource use, as well as the replacement rate, include a cyclic component, which is synchronized with a one-year lag with the cyclic fluctuations in the volume of shipped goods of own production, works and services performed.
Scientific novelty: the combination of cyclicity analysis and production function modeling to identify the factors that have the greatest impact on the economic development of the Perm region municipalities. This aspect forms the novelty of the work, which consists in substantiated disclosure of trends in the economic development of the Perm region municipalities, based on economic and mathematical modeling.
Practical significance: the main provisions and conclusions can be used by regional authorities in the development of the state regional anticyclical policy to ensure the coherence of regulatory measures and the formation of the necessary conditions for sustainable economic development of the Kama region.
Keywords :
Economic cycle; Production cycle; Production function; Perm region; Municipalities
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Citation :
Tretyakova E. A., Alferova T. V. Production function and production cycle: specific features of municipal entities of the Perm territory, Actual Problems of Economics and Law, 2019, Vol. 13, No. 4, pp. 1620–1636 (in Russ.). DOI: http://dx.doi.org/10.21202/1993-047X.13.2019.4.1620-1636
Type of article : The scientific article
Date of receipt of the article :
02.09.2019
Date of adoption of the print :
28.11.2019
Date of online accommodation :
25.12.2019
