The Impact of Economic Crisis on Management and Development of Raw Material Regions

This essay is devoted to the research of regions’ control of raw features in crisis time, and specificity of the crisis effect on the economic and social development. The negative impact of the economic crisis on economic growth is known, however, to be unclear on what kind of industry affects the most, and how to change management in the region, which would prevent inefficiency. The aim is to determine the characteristics of the economic crisis on the raw regions. To achieve this, the author of the study will conduct research, which consist of three stages: the analysis of contemporary approaches to the study of primary regions and regulatory framework for their development; creation of an risk - model on the basis of statistical data to identify the affected sectors; the comparison of 2 raw material regions, that specialize in oil production, and providing recommendations to improve governance at the state and municipal level. The author tries to illustrate the failures in economic policy of the region, which is a consequence of poor management at the state, regional and at the corporate levels. The results should prompt a change in management and economic policy in the region for the most efficient operation of the overall economy in the country and well-being of all citizens.