Regional and spatial economics: Fundamental differences

Abstract

Subject. The article addresses regional and spatial economics. Objectives. The aim is to identify fundamental differences between regional and spatial economics because these concepts are often not distinguished and are considered as synonyms. Methods. The study draws on general scientific research methods. Results. The paper unveils differences between spatial and regional economics, establishes boundaries between these concepts. Spatial and regional economics are two completely different fields of knowledge with different conceptual questions. Spatial economics is a part of economic theory; it regulates the interaction of socio-economic systems with objects of spatial development, while regional economics explores regional distribution of country's productive forces and specific features of the development of its regions. Conclusions. The comparison of regional and spatial economics demonstrated that they can be distinguished by the vector of consideration: in the regional economy, production capacities and cycles of regions are analyzed, and in the spatial economy, the process of activity of subjects (oblast, federal district, State) is studied.