Indices of socio-economic development in the space of characteristics of regional differentiation

Central Economics and Mathematics Institute of the Russian Academy of Sciences, Moscow, Russia

^* Corresponding author: mi.afan@yandexi.ru

Abstract

As a rule, the source information and methods used for construction of many indices have specifics that allow authors and experts to consider these indexes as original and recommend them for use in solving a number of management tasks. However, a comparative analysis of such indices sometimes shows that despite the peculiar names and methods of calculation, some of them do not have significant statistical differences. This paper presents an approach that allows us to compare an arbitrary set of indices and ratings that characterize the level of socio-economic development of the subjects of the Russian Federation in the space of characteristics of differentiation used in solving regional management problems. The purpose of the study is to identify indexes that do not differ significantly. Eighteen indexes are compared. At the first stage of the study, their correlation analysis is performed. Then the indices are regressed to the basic characteristics of differentiation. The analysis of cosines of angles between indices calculated using beta coefficients of regressions allows us to refine the results of correlation analysis and identify a subset of indices that are not distinguishable in solving regional management problems.