Proceedings of the 2nd International Scientific conference on New Industrialization: Global, national, regional dimension (SICNI 2018)

Application of production function framework for the integral assessment and forecast of industry development in a region

Authors
Elena Gadzhieva, Olga Bogacheva, Svetlana Arutyunyan
Corresponding Author
Elena Gadzhieva
Available Online January 2019.
DOI
https://doi.org/10.2991/sicni-18.2019.139How to use a DOI?
Keywords
production function, Cobb-Douglas function, industry, mathematical models, factors of economic growth, coefficients of elasticity, coefficient of scale.
Abstract

The article describes the main directions of applying the production functions as a tool of analysis, assessment and forecast of production processes in the economic systems of different levels. Using the production function framework, the authors present the studies of regularities and tendencies in the development of the industry branches in Astrakhan region (Russia). The application of the Cobb-Douglas production function for the analysis of industry at the regional level is reasoned. Relying on the analysis, the authors draw the conclusion on a limited application of the Cobb-Douglas function because of the high level of indicator aggregation and prove the direction of the production function modification, enabling to consider the characteristics of fixed assets of industry in the conditions of the contemporary information restrictions. The proposed modification of the Cobb-Douglas production function is tested by the authors for the series of dynamics of the main indicators, characterizing the industry of Astrakhan region.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2nd International Scientific conference on New Industrialization: Global, national, regional dimension (SICNI 2018)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
January 2019
ISBN
978-94-6252-654-9
ISSN
2352-5398
DOI
https://doi.org/10.2991/sicni-18.2019.139How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Elena Gadzhieva
AU  - Olga Bogacheva
AU  - Svetlana Arutyunyan
PY  - 2019/01
DA  - 2019/01
TI  - Application of production function framework for the integral assessment and forecast of industry development in a region
BT  - Proceedings of the 2nd International Scientific conference on New Industrialization: Global, national, regional dimension (SICNI 2018)
PB  - Atlantis Press
SP  - 690
EP  - 696
SN  - 2352-5398
UR  - https://doi.org/10.2991/sicni-18.2019.139
DO  - https://doi.org/10.2991/sicni-18.2019.139
ID  - Gadzhieva2019/01
ER  -