Estimation of modernization potential of Russian federal districts

Abstract

The article discusses the resource potential of Russian federal districts involved in processes of modernization. The theoretical framework draws from Russian and international studies of economic potential, stability and efficiency in regional development and regional imbalances. Methodologically, the research relies on a series of relative indicators of innovation, which can be used to measure federal districts' modernization potential by applying methods of mathematical statistics. The proposed set of criteria allows us to take into consideration both the current situation and the dynamics of innovation development in Russian regions. The selected indicators characterize the returns from innovation investment in socio-economic systems, the degree of regional differentiation within districts and trends of regional development regarding the efficiency of innovation processes. The proposed approach can be used to measure the efficiency of human capital use. To test the above-described methodology, we decided to focus on the Central Federal District, which has a significant resource potential necessary to meet the demands of intensive modernization. Statistical comparison of the actual and limit values has revealed significant underused resources in this district. These resources can be accessed by stimulating the lagging regions. The described methods and results of this study can be used by research organizations, higher education institutions, regional authorities and policy-makers in the process of preparation, adjustment and monitoring of strategic programs of socio-economic development.