VolRC RAS scientific journal (printed edition)
RuEn

Journal section "Sustainable development of territories, branches, and production complexes"

Identifi cation of the Specifi cs of Social Production in Russia with the Help of Production Functions

Skufina T.P., Baranov S.V.

2 (82), 2016

Skufina T.P., Baranov S.V. Identifi cation of the Specifi cs of Social Production in Russia with the Help of Production Functions. Problems of Territory's Development, 2016, no. 2 (82), pp. 27-36

Abstract   |   Authors   |   References
Identification of the Specifics of Social Production in Russia with the Help of Production Functions This paper considers the specifics of social production expressed by gross domestic product of Russia for the period from 1996 to 2013 with the help of Cobb-Douglas production function. It states that it is the statistical aspect that allows us to identify objective, quantitative characteristics of the process of creating benefits, find out specifics, trends, analytically construct optimal development trajectories and forecast the future. Statistical study of social production involves the use of a system of indicators calculated as a relationship between outputs and production factors (resources) or, according to another interpretation, outputs and costs associated with their achievement. Gross domestic product is a result at the macroeconomic level. The article argues the feasibility of using a basic methodological approach to statistical study of GDP production – production functions. In the research in the model GDP was taken for output and an average annual number of employed in the economy – for labor. The value of fixed assets adjusted for depreciation and investment in fixed capital are considered as capital. Modeling was done both with cost indicators and physical volume indices. The research shows that it is advisable to use investment in fixed assets as an indicator of capital. The methodical recommendation is justified by the insignificant dependence of GDP production on the cost of fixed assets. The paper reveals the possibility of using cost indicators and physical volume indices; however, the specifics of the Russian economy determines the preference of using the latter. It identifies the intensive nature of economic growth. The article discloses the dynamics of Russian economy efficiency

Keywords

production function, modeling, gross domestic product, social production

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