Natural resource potential as a growth factor of the region's economy

The article presents the study's results of the natural resources' role in the economy of the Republic of Buryatia. The opinions of leading researchers on the impact of natural resources on the level of economic development of territories are studied. The ambiguous dependency "natural resource potential and economic growth is defined. Natural resource potential is a necessary condition for economic development, the most important part of the national wealth of the region and country. Along with this, there is the opinion about the negative impact of natural resources on the economic development of the territory. The authors prove that the natural resource wealth of the Republic of Buryatia can be a potential source of economic growth in the case of elimination of the adverse impact of macroeconomic and institutional factors and the transition of the regional economy to the innovative way of development. The innovative scenario is the only way to ensure economic development of the region taking into account it s socio-economic and geographic location, natural and resource potential, accumulated problems and opportunities of economic growth.