ECONOMIC DEVELOPMENT OF SEVASTOPOL AND ITS INFLUENCE ON THE POPULATION'S LIFE QUALITY

• Main Authors: Elena Piskun, Vladimir Khokhlov, Natalia Simchenko
• Format: Article
• Language: English
• Published: Center for Quality, Faculty of Engineering, University of Kragujevac, Serbia 2019-06-01
• Series: International Journal for Quality Research
• Subjects: quality of life; economic development; region; city of Sevastopol; modeling of economic processes; exogenous and endogenous variables
• Online Access: http://ijqr.net/journal/v13-n2/15.pdf

An indispensable condition for setting strategy and programs of regional development, which stimulate solution of the tasks for increase of population's life quality, is a retrospective research of socio-economic performances for the purpose of determining the problem aspects and points of economic growth. Therewith, an assessment of economic development should be carried out within interrelation and interdependence of performances. In order to monitor modern economic state of Sevastopol and reveal its growth spurts, we need to uncover the current trends. The most true-to-life results were obtained using a system of simultaneous equations, which allows investigating the influence of external (exogenous) variables on endogenous ones that are integral and describing an economic state of the region. In the course of this study, we modelled economic processes depending on different levels of exogenous variables, which made it possible to reveal latent trends in the dynamic pattern of economic development of Sevastopol subject to irregular results of statistical conclusions.