Diversification as a Factor in the Efficient Economic Development of the Republic of Sakha (Yakutia), Russia

Authors

  • Anatoliy A. Popov North-Eastern Federal University named after M.K. Ammosov, Yakutsk
  • Tamara A. Karataeva North-Eastern Federal University named after M.K. Ammosov
  • Elena V. Danilova North-Eastern Federal University named after M.K. Ammosov, Yakutsk
  • Anatoliy N. Myreev North-Eastern Federal University named after M.K. Ammosov, Yakutsk
  • Valentina V. Sergeeva North-Eastern Federal University named after M.K. Ammosov, Yakutsk

DOI:

https://doi.org/10.15549/jeecar.v9i2.915

Keywords:

Russia, Yakutia, economic diversification, regional economy, gross regional product, construction, manufacturing, mining

Abstract

This article empirically substantiates an approach to the diversification of the regional economy of the Republic of Sakha (Yakutia). The authors used data samples for all Russian regions to determine cause-and-effect relationships between the development indicators of the mining, manufacturing, and construction industries. The authors applied regression analysis and the VAR-model to assess the impact of the diversification of the regional economy on the gross regional product regarding the manufacturing, mining, and construction sectors. The obtained results proved the feasibility of diversifying the regional economy for its stable economic development, especially in the long term. This paper presents a universal approach to assessing the region's long-term economic development through the diversification of its economy.

Author Biographies

Anatoliy A. Popov, North-Eastern Federal University named after M.K. Ammosov, Yakutsk

Anatoliy A. Popov is a Professor, Doctor of Economic Sciences, Full Member of the Academy of Sciences of the Republic of Sakha (Yakutia), Academician of the Russian Academy of Social Sciences, International Academy of Scientology, Head of the Economic Theory Department of the North-Eastern Federal University named after M.K. Ammosov, Deputy Editor-in-Chief of the scientific and practical journal "Economy of Eastern Russia", Honored Worker of Higher Professional Education of the Russian Federation, the National Economy of the Republic of Sakha (Yakutia), Honored Citizen of Suntarsky District of the Republic of Sakha (Yakutia).

Tamara A. Karataeva, North-Eastern Federal University named after M.K. Ammosov

Tamara A. Karataeva is a PhD in Economic Sciences, Associate Professor of the Department of Economic Theory of the North-Eastern Federal University named after M.K. Ammosov. She lectures in the following disciplines: statistics, economics, mathematical statistics, mathematical methods in economics, qualimetry, econometrics. Scientific interests: shadow economy, economic security.

Elena V. Danilova, North-Eastern Federal University named after M.K. Ammosov, Yakutsk

Elena V. Danilova is a PhD in Economic Sciences. Since 1993, she has been working at the Economic Theory Department of the North-Eastern Federal University named after M.K. Ammosov. Research interests: economic theory, regional economy and development, spatial development, economics of the Far East and the Arctic, demography, labor market and employment issues.

Anatoliy N. Myreev, North-Eastern Federal University named after M.K. Ammosov, Yakutsk

Anatoliy N. Myreev is the First Deputy Chairman of the Board of JSCB "Almazergienbank" J.S.C. In 2011, he obtained a PhD degree. Since 2012, he has taught part-time at the North-Eastern Federal University named after M.K. Ammosov. In 2019, he graduated from a 2-year acceleration program at the Massachusetts Institute of Technology Sloan School of Management in the direction of the "Regional Entrepreneurship Accelera-tion Program". At present, he heads the direction for the implementation of JSCB "Almazergienbank" J.S.C.'s digital transformation.

Valentina V. Sergeeva, North-Eastern Federal University named after M.K. Ammosov, Yakutsk

Valentina V. Sergeeva defended her PhD thesis on the theme "Development of social and economic security of the population of the Arctic zone on the example of the Russian Far East" in 2018 on the basis of the North-Eastern Federal University named after M.K. Ammosov. Currently, she works at J.S.C. "R.I.C. Plus." She is the chief specialist of the Economics and Finance Department. She also teaches at the Economics and Finance Department of the North-Eastern Federal University named after M.K. Ammosov. Her research interests are economic security and the Arctic zone.

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Published

2022-03-28

How to Cite

Popov, A. A., Karataeva, T. A., Danilova, E. V., Myreev, A. N., & Sergeeva, V. V. (2022). Diversification as a Factor in the Efficient Economic Development of the Republic of Sakha (Yakutia), Russia. Journal of Eastern European and Central Asian Research (JEECAR), 9(2), 183–193. https://doi.org/10.15549/jeecar.v9i2.915

Issue

Vol. 9 No. 2 (2022): Journal of Eastern European and Central Asian Research

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