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Large Corporations in Regions: Pro et Contra

The paper analyses how large corporations impact on the economic processes taken place in certain regions; what pros and cons could be if large corporations or their subsidiaries and branches operate in regions; what effects are when a centralized model of corporate governance are widely spread; and how such model impacts on the level of localization of effects obtained by operating large federal corporations. We describe the examples of several regions of the Siberian Federal District where large corporations operate. We also consider several examples of foreign practices, and present our conclusions about the role which large corporations play being a factor of the regional economic development.

Nefedkin V. I.

Keywords: corporation development regions Siberian Federal District localization of effects Siberian Federal District finance

Assessing socio-economic development in a constituent entity of the Russian Federation under new conditions

The paper analyses potential impacts of recessionary events on the dynamics of regional development. Our calculations have been made by applying an optimization forecasting model to the money flows observed in the Novosibirsk Oblast. We treated the recessionary impacts as follows: a reduction in regional financing by the federal government, devaluation of national currency, transformations of overdue repayment of debts on issued loans, and a reduction in capital projects financing. We show that it is the policy concerning the investment of construction projects - first of all, large ones - proved to be a key factor affecting the socio-economic development in a region.

Marshak V. D.

Keywords: region economy region economy finance crisis dynamics money flows

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