Economy Modernization: Macroeconomic and Spatial Aspects

Abstract

Theoretical two-factor models of economic growth are constructed and studied. The task of economy modernization, as process of growth of key parameters of its efficiency, in particular, returns on production factors (labor and capital) is formulated. General conclusions are concretized for regional economy. Principles of selection of investment decisions at the regional level, directed on growth of regional economy efficiency are offered. The system of the hierarchical look-ahead calculations is described, allowing to translate macro level scenario conditions on regions. A series of calculations for an estimation of Far East Federal District macro regions possible development within the limits of the scenario of an exit of Russian economy on boundaries of developed countries by 2030 is executed

Keywords

• Modernization
• economic growth
• efficiency
• forecasting
• international comparisons
• multiregional systems
• region
• Far East Federal District