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Impact of World Oil Prices on the Economic Development of Different Regions of the Russian Federation

Student: Sydygaliyeva Akmaral

Supervisor: Boris Kuznetsov

Faculty: Faculty of Economic Sciences

Educational Programme: Applied Economics (Master)

Year of Graduation: 2021

The uneven development of different regions of Russia is one of the important and complex problems of economic development in general. Thus, since oil prices are a source of reducing such unevenness, in particular, it creates a source of widening gaps. The dependence of the Russian economy on oil prices, on the one hand, increases unevenness, and on the other hand, revenues concentrated in the budget aimed at leveling economic development are trying to compensate and reduce this unevenness. In this paper, we try to understand why some regions are more developed than others, we examined how world oil prices and the main economic factors affect the development of regions of the Russian Federation. The aim of the study is to analyze the main factors influencing the regional development of Russia, namely, to identify the influence of oil prices on the development of different regions of the country. The main task is to analyze the influence of the oil situation on the economic development of the regions of Russia by methods of economic and mathematical modeling.

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