RETROSPECTIVE ECONOMY: HAVE THE INDUSTRIAL REGIONS OF RUSSIA OVERCOME CONSEQUENCES OF THE "UNRECOGNIZED" 2014 ECONOMIC CRISIS?

Abstract

The aim of this work is to reveal changes in the economy of the main mining area of Russia the Kemerovo region during the 2014 minor economic crisis on the basis of the open data analysis of the regional development rates and financial reporting of major industrial companies representatives of the four main industries of the region (mining, chemical, metallurgical, engineering). Economic crises in the context of modern globalization are one of the most serious problems of the socio-economic systems development at various levels. These problems are linked with the negative socio-economic consequences of the downturn, resulting in the stagnation of part of the economic potential and social upheaval, leading ultimately to the loss of stability of the regional economic national system. To eliminate these the industrial and economic activities regulations should be changed. The research methodology basis is the statistical analysis of the open data on Kuzbass socio-economic development in 2012-2017, the identification of crisis trends in their dynamics since 2014; examination of the financial and economic indicators of the largest enterprises representing the basic industries of the region since 2014. The results of the research demonstrated that according to statistics, negative changes have been observed since 2014 in the social sector mostly (resulting in the drop in incomes, unemployment growth). Among the major enterprises of the region, the mining and chemical enterprises and partly, metallurgical ones were under serious crisis. The economic analysis of the activities of machine-building enterprises did not allow registering the financial decrease since 2014, with their recovery by 2017.