Methodological Approach to Assessment Socio-Economic Development of the Chuvash Republic (Subject of the Russian Federation)

The article develops a methodological approach to the assessment of socio-economic development of the Chuvash Republic, which allows to consider the factors with heterogeneous metrics. The scientific novelty of the study lies in the combination of methods used and the sequence of stages implemented: (1) index analysis of thirty-two indicators divided into seven macro-regional blocks (income, labor, business, ecology, social, prospects, finance); (2) development of formulas for each of them and calculation of integral indicators characterizing their dynamics; (3) development of a formula to determine the rate of socio-economic development; (4) one hundred graphs for forecasting socio-economic development were constructed; (5) thirty-one legal and regulatory acts were analyzed and the dependence by year between the indicator of the rate of socio-economic development developed by the authors and the number of legal and regulatory acts implemented in the country and the region was revealed; (6) a refined classification of the rate of socio-economic development was proposed. Having determined the current situation (2020 is a state close to sustainable—the rate of 99.5%, respectively), and based on the calculated forecast values of the rate of socio-economic development of the Chuvash Republic, it is possible to influence this process depending on the objectives for the medium term, taking the necessary regulatory legal acts, aimed at financing specific macroeconomic blocks. This methodical approach is a universal calculation tool and has great potential for further research. It can be used to assess not only the impact of certain indicators on socio-economic development, it is also applicable to other sectors and spheres of activity.