Growth Factors and Points of the Industrial Policy of the Astrakhan Region (Russia)

The article describes the analysis of the peculiarities of the industry and industrial policy of the Astrakhan Region (Russia) with the application of production function tools. The authors conclude that in the current conditions of Russia in general and the Astrakhan Region in particular it is the most fruitful to develop and implement the mutually beneficial integrated industrial policy in cooperation with the other Caspian Sea states that will further the development of the economic potential and security of the Caspian Sea territory as a whole. The industrial cooperation strategy should be worked out with regard to the model of long-term industrial policy of the region that can be formed and proven using production function tools. The article analyzes the results of the industrial activity in the Astrakhan Region over the past decade, identifies the main trends, problems, factors and development prospects. The authors study the regularities and development trends of the industry branches of the Astrakhan Region using the Cobb-Douglas production function, draw conclusions about the economic efficiency dynamics of some branches of industrial production: the calculation of the production function parameters shows that the efficiency of the industry in the Astrakhan Region is not high, there is the deintensification of production and economic growth.The authors classify and characterize the economic growth factors: extensive, intensive, and market-oriented. They also make a distinction between such concepts as “production intensification” and “economic efficiency”, consider the problems that impede the industry development, which results in the decrease of the economic efficiency of production, and determine the reference points for the growth of industrial production.