The Role of Clusterization of Economic Systems in the Implementation of Territorial Development Strategies
Year: 2024
Type: article
Abstract: Introduction. Clustering of economic systems is an important tool for implementing territorial development strategies. It allows creating more effective economic connections between different sectors of the economy, contributing to business development, growth of business and innovation activity, increasing competitiveness and increasing investment attractiveness of territories. Methods. The following methods were used during the research: analysis and synthesis, the method of a systems approach, the dialectical method, the monographic method, the logical and semantic method, the generalization method. Results. In the process of refining the key characteristics of cluster structures and determining the role of clustering in economic systems, the level of interaction between participants has been identified, forming an analytical foundation for the further development and implementation of territorial development strategies. An analysis of the advantages and disadvantages affecting the clustering of economic systems has been conducted. Clusters facilitate the exchange of knowledge, technologies, and resources, enabling rapid adaptation to changes in the economic environment and the creation of unique competitive advantages. It has been established that territories where economic system clustering is actively taking place determine the competitiveness of the national economy, whose primary development concept is the substitution of imported goods in key strategically important industries. Discussion. It has been proven that carefully developed cluster policy helps to increase the investment attractiveness of territories by attracting highly profitable traditional or innovative business entities, as well as the ability to quickly overcome narrow-sector limitations in development. Keywords: clustering, strategy, development, cluster, economic systems, territories, competitiveness.
Source: The economic discourse
Author: Olesia Khokhuliak
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4407991114