Social projection of modernization of the regional economy

The article describes social situation in the regions of the South of Russia depending on the regional modernization activity from the point of view of three approaches. The first approach is based on comparing the macroeconomic dynamics of the economic growth and dynamics of major indicators of the life standard of the population in Russia and regions. The second approach assesses the social projection of the modernization of the regional economy and it is based on the use of integrated, integral indicators of social and economic processes which are calculated by the method of the integral index of quality of life. The third approach is connected with the analysis of the influence of large investment projects on living standard of the population of a given territory. The results of the study showed a clear relationship between the growth of the of the level and overall quality of life of the population and with the intensification of economic processes, which is typical for large regions, attractive for investment and big business. But in regions with a lack of modernization processes, there are high rates of some characteristics, reflecting the quality of life.