Abstract

Subject. The article investigates socio-economic relations emerging in the process of formation and development of regional industry clusters. Objectives. The purpose of the study is to determine the relationship between industry clusters and sustainable development of the Volga Federal District regions. Methods. The study employed content analysis with subsequent synthesis of theoretical and methodological provisions of the cluster approach and the concept of sustainable development; standard correlation analysis of MS Excel statistical data. Results. The paper summarized theoretical foundations of the research on industry clusters as elements of the regional structure, and underpinned advantages of the cluster approach. It also unveiled the potential of industry clusters in the regions of the Volga Federal District based on the calculation of clustering indicators; determined and evaluated the interrelation of clustering indicators and indicators of sustainable development, according to economic, social, and environmental criteria; substantiated possibilities of clustering by type of activity. Conclusions. The cluster approach enabled to determine the possibilities of maintaining the economic, social and environmental sustainability of the region. The development of industry clusters requires comprehensive support for both financial and local infrastructure, expansion of investments, including "green" ones.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.