City – “a Point of Economic Growth and Social Development”. or Otherwise?

Abstract

Background/Objectives: city has been viewed as a place of location of productive forces; therefore, it attracts investment and skilled personnel. At the same time, urban sprawl causes multiple acute social issues. The main city development concepts are given and methods of evaluation of the city socioeconomic development have been analyzed. Methods: the main steps of the city dynamics analysis have been suggested where methods of correlation and regression analysis are used to rank the main factors of sustainable development. Findings: it is established that the social factor is the most significant and positive factor having an impact on the gross municipal product, with the investment lag being minimum three years. Applications/Improvements: to ensure the increase in the gross municipal product the socio-economic interests of local residents should be coordinated with the interests of local businesses which is, first of all, expressed in the municipal socio-economic policy. Areas of interaction between the main structural elements of the city system have been identified. Keywords—City development concept, Econometric model, “convolution” of indicators, Sustainable development, Growth of economic indicators.