Business Efficiency in the Regions of the Russian Federation: An Econometric Assessment Model in the Context of National Development Goals

Abstract

The formation of a sustainable and dynamic economy is one of Russia’s national development goals, the achievement of which requires the coordination of strategic priorities at both the federal and regional levels of public administration. This article addresses the task of translating national goals into a system of measurable indicators that capture the dynamics of socio-economic processes in the regions of the Russian Federation, along with regionally governed factors associated with these indicators.The aim of the study is to develop and empirically validate a model for assessing business efficiency as an integral indicator that quantifies the contribution of regional processes to the attainment of national development goals and reflects key parameters of regional socioeconomic performance. The research methodology is based on econometric modelling using aggregated official statistics of the Federal State Statistics Service, processed through the applied analytical platform “Regional Economic Strategies”.The model was tested using data from eight regions of the Russian Federation, selected to represent all federal districts and characterized by median values of gross regional product per capita. The analysis identified and statistically confirmed relationships between the governing indicators and the governed factors, revealing stable universal and region-specific socio-economic processes across Russian regions.The findings confirm the analytical robustness of the proposed model and demonstrate its practical applicability for monitoring regional socio-economic development, as well as for designing regional roadmaps aimed at enhancing entrepreneurial activity, supporting trade development, and stimulating small business as drivers of sustainable economic growth.