Physical capital in sustainable development of the Kamchatka Krai

The most important task at the present stage remains the transition to sustainable regional development. For the Far East regions, such a transition is becoming more relevant due to the current social and economic challenges and the existing territorial, demographic, and natural resource specifics. One of the key components in the transition to sustainable development is the physical capital of regions. The assessment of the physical capital state in the Kamchatka Krai as one of the key factors of the regional sustainable development has been carried out. The general indicators such as the physical capital volume dynamics, its current structure, depreciation dynamics have been analyzed. The analysis of the dynamics of the investment indicators such as the investments volume, the investments ratio to the physical capital cost, the investments ratio to the gross regional product has been carried out. A comparative analysis has been carried out for three levels – national, macroregional, and the Kamchatka Krai level. The cyclical dynamics of a number of indicators, as well as its similarity with the dynamics of similar indicators for the national and macroregional levels, have been revealed. According to the main types of economic activity, the linear correlation coefficient between the physical capital volume and the financial result has been estimated, and one-factor functions have been constructed to assess the relationship between these indicators. The conclusion has been made about the relatively prosperous state of physical capital in the region and the need to mitigate pronounced investment cycles.

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