Enhancement of the methodological and systematic foundation for monitoring socio-economic developments in Latvian regions
Enhancement of the methodological and systematic foundation for monitoring socio-economic developments in Latvian regions

Summary/Abstract: The article is concerned with the problem of managing the regions on the grounds of using economic instruments, including: territorial development index. The meaning of these instruments in the use of the potential of the regions with the goal of overcoming unwelcome differences between them is analysed on the example of regions and cities of Latvia. Suggestions about the ways of improving the management of territorial development on the grounds of brand strengthening have been expressed. In order to re-enforce the methodological and systematic foundation as to the calculation of the composite index of territorial development, the use of the indicator of levelled tax revenue per resident in municipalities has been proposed. Additionally, an opinion has been provided about a possible modelling of the regional potential based on different options of combining the three types of capital: economic, social and natural for the development of territorial grouping typology, which might be useful for the purposes of planning and monitoring.

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