Regional specialization as a factor of economic stability in the context of geopolitical turbulence
Year: 2025
Type: article
Abstract: Relevance. The specifics of the region, in particular the variety of resources and conditions of economic activity, form the conditions and prerequisites for the specialization of the region, and the composition of natural resources, the scale and quantity of their reserves affect the economic potential of the region. Regional specialization helps to determine the role and place of the region in the single economic space of the country. Regional specialization acts as a factor of economic development, as it allows to increase labor productivity and production efficiency. The purpose of the study is to analyze the regional specialization of the territory as a factor of its economic development in the context of modern geopolitical challenges, including strategic isolation, sanctions pressure and the need for import substitution. Objectives: to study the regional specialization of the region in order to determine the activities dominating in the region in order to influence the growth of production volumes of the branches of specialization on the dynamics of the overall socio-economic development of the region. Methodology. The research used general scientific methods such as analysis and synthesis, classification, grouping, economic and statistical methods. Results. The development of the region is largely ensured by resource availability, and the distinctive features of the region form the prerequisites for the specialization of the regions. The evolution of views on regional specialization has gone a long way from classical theories to modern concepts, including the impact of globalization and agglomeration effects. Modern research complements classical approaches, focusing on strategic management, sustainability and innovation in regional development. The regional specialization of the Kursk region, based on the development of various sectors of the economy, ensures its stability in the face of geopolitical turbulence. Conclusions. In the context of geopolitical turbulence and sanctions pressure, the regional specialization of the Kursk region, based on the effective use of competitive advantages (energy, mining, agriculture), is a key factor in economic stability, but long-term development requires overcoming structural constraints through economic diversification, modernization of production and investment in human capital.
Authors: A. I. Milgunov, N. V. Zhakhov
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4415109761