On the Issue of the Evaluation of the Economic Development of a Region

The article presents the research of basic approaches to the assessment of regional economic development and identifies the most feasible approach, which is today a pertinent task for the Russian science and practice. The research is based on the analysis of the publications by Russian experts, recommendations of public authorities for assessing regional economic development. Data from Rosstat, information and analytical agencies were among the research sources. The article presents the study of the existing approaches to the assessment of regional economic development. The author made an attempt to compare the existing methods for evaluating regional economic development on the basis of an analysis of the official statistics, rating agencies and the calculation of the integral indicator for the level of economic development by groups of indicators. The advantages and disadvantages of the proposed assessment methods are identified. A comprehensive approach to the evaluation is proposed. The correlation and regression analysis is suggested for selecting meaningful factors and establishing the level of their impact on the level of economic development of a region. The assessment procedure for the economic development of a region is explained.