Cluster Development as a Factor of Sustainable Economic Development: Scientific Analytics and Management Prospects

Abstract

AbstractThe purpose of this research is to test the hypothesis and scientific analytics of cluster formation as a factor in sustainable economic development and to identify prospects for managing this factor in order to maintain sustainability. The authors have carried out a statistical analysis of depending indicators of cluster development in the country and existing manifestations of sustainable development. Global Competitiveness Index 4.0, Economic growth rate, GDP per capita, Sustainable Development Index were chosen as manifestations of sustainable development.The methodological apparatus of the research is based on methods of economic statistics (econometrics): the method of correlation analysis, the method of regression analysis, and the analysis of variance. The authors also use such methods of scientific research as classification, problem, and comparative analysis, synthesis, method of analysis of cause-and-effect relationships, hypothetical-deductive method.The article proves that there are two forms of manifestation of sustainable development, which are influenced by the cluster development - Global Competitiveness Index 4.0 and Sustainable Development Index. The results of developing clusters in countries are an increase in the country’s rating in terms of key manifestations of sustainable development.KeywordsClusterFormation of clustersFactorSustainable developmentSustainable economic developmentEconomic developmentScientific analyticsGovernance perspectivesPandemicCOVID-2019Post-COVID economy conditionsRisksInnovationJEL CodesC31C33C38F63Q01Q56O11O12O31O32O33O38P25P48R11R13R58