Construction sector's impact on the development of the national economy: methodology and evaluation practice in Russia and abroad

Abstract

The article examines the relationship between construction sector and economic growth at national and regional levels in Russia. International researchers are deeply interested in assessing such dependence for different countries and groups of states and we can review numerous works on this subject. However, not so many of them are devoted to Russia. Still, in Russia, the correlation between the construction sector and economic growth is similarly relevant. Many regulatory documents and scientific reports refer to construction as a «driver of the Russian economy». To substantiate this we need justification, verification, and quantification. The article assesses the relationship between the construction sector and economic growth at national and regional levels. The issue of substantiation and evaluation of this dependence for the regional level is less studied in the literature. Nevertheless, the results show that this dependence exists and is statistically significant. For example, we can find similar studies on the relationship between the scale of the construction industry and the value of gross regional product in provinces in China and Iran. State economic policy should recognize the complexities of such relationships at the regional level.