Dominant Theories of Regional Growth and New Forms of Territorial Organization of Industrial Production
Year: 2020
Type: conference-paper
Abstract: In this article, the authors consider the dominant theories of regional growth and new forms of organization of industrial production in regional economy. They attempt to distinguish common sources of growth immanent to the regional systems, and show how the regional economy can transfer from stagnation to slow growth and at last to the situation when the growth becomes an optimal regional economic phenomenon. The meso-economic analysis contains a certain value system, affects the interests of various population groups and acquires a distinct social orientation. The development of innovative meso-economy is accelerated under the influence of modern digital revolution. This updates the theories of innovative regional economy. The active and direct participation of the state in the investment process, the planning and programming of innovative economic activity of the region are required to overcome the rigidities of the regional economy quickly. Increased investment should cause cumulative growth of income and achievement of full employment in the region. There will be created the conditions that provide opportunities for reinvesting the profits of entrepreneurs, mobilizing the endogenous industrial resources and diffusing the growth impulse arising from innovative sectors all over the regional economy. The structure of the regional industry undergoes numerous changes while modernization; all its elements pass through various stages of renewal.
Authors: E A Gasanov, A E Zubarev
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W3010508005