The Level of Economic Development of a Region: Scientific Basis to the Concept of its Evaluation

The paper analyzes and defines features of economic measurements, the structure and types of economic measuring instruments. We establish that in the economic theory and practice limitation of indicators of economic growth is overcome at transition to measurement of level of economic development. We develop a concept to measure the level of economic development of a region on the basis of subject-functional, systematic, organizational and strategic approaches. The article describes the methodology of how to measure regional development level through an example of an integrated estimation of competitiveness of a region. We discuss possibilities of rating, time and structural analyses