INDICES OF REGIONAL ECONOMIC ACTIVITY
Abstract
This article proposes an original method for estimating regional economic activity in Russia. It is based on monthly official regional statistics in five main sectors of the Russian economy (industry, construction, retail trade, wholesale trade and paid services) but transforms it into specially constructed dichotomous variables which eliminate an excessive volatility of initial time-series.
Indices of Regional Economic Activity (REA) are constructed for the 82 Russian constituent entities («oblasts») for the period from January 2005 till now. Composite indices for all five economic sectors, eight federal districts, and Russia as a whole are then calculated. The authors propose methods for visualizing multidimensional regional data. They allow one to track the regional peculiarities of the Russian economy and to discern the current phase of the business cycle more accurately. Several illustrative examples for possible application of these indices in real time monitoring and analyses are provided. The paper demonstrates that these methods can be applied in real time, ensuring almost simultaneous publication of information on regional economy and data on Russia as a whole.
About the Authors
S. V. Smirnov
National Research University Higher School of Economics
Russian Federation
Moscow
Russian Federation
Moscow
A. A. Frenkel
Institute of Economics, RAS
Russian Federation
Moscow
Russian Federation
Moscow
N. V. Kondrashov
National Research University Higher School of Economics
Russian Federation
Moscow
Russian Federation
Moscow
References
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Review
For citations:
Smirnov S.V., Frenkel A.A., Kondrashov N.V. INDICES OF REGIONAL ECONOMIC ACTIVITY. Voprosy statistiki. 2016;(12):29-38. (In Russ.)
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