Sustainability of Economic Growth in Regions of Russia in the Pre-Crisis Period
Econometric evaluation of economic growth sustainability of various regions is provided. As it is stated, for the period of 1998–2012 economies of the North Caucasian and the Far Eastern federal districts tended to develop more sustainably, while economies of the Central and the Urals federal districts tended to develop less sustainably. Within the North Caucasian federal region, it was the Kabardino-Balkar Republic, that showed the most sustainable economic growth. Similarly, during the same period the Republic of Sakha (Yakutia) within the Far East federal district, the Krasnoyarsk Region within the Siberian federal district, the Leningrad Region within the North-West federal district and the Republic of Adygea within the Southern federal district were leaders in terms of sustainable development within their federal districts. As for the Volga federal district, the most sustainable economic growth was observed in the Republic of Bashkortostan; within the Urals federal district the most sustainable growth was observed in the Sverdlovsk Region and within the Central federal district — in Belgorod Region. The need to differentiate anti-crisis economic policy towards separate regions, dependant on the propensity of a regional economic system for sustainable economic growth, is emphasized.