Strategies for Sustainable Development of Socio-Economic Systems

Abstract

The global trend of sustainable development of the state economies is associated with a systematic approach that provides for comprehensive and interconnected effective business development, environmental protection, and social decisions. The concept of “sustainable development” was first conceived in 1983 by the World Commission for South Africa, was further developed in 1983 by the UN World Commission. In 1987 this concept was reflected by UN World Commission in the report “Our Common Future” to the World Commission. Despite such a long period of existence of the concept of sustainable development, many issues related to the implementation of this concept remain unresolved. One of the most important issues in assessing the sustainable development of socio-economic systems is the choice of criteria. In general, sustainable development of the economy is primarily associated with a person. Thus, the study considers a methodological approach to calculating a consolidated composite index for assessing the sustainability of the development of a national socio-economic system. The purpose of the study was to investigate the main strategies of social and economic development, key challenges and directions of such development, both at the state and private business level. The strategy of an open economy with the active participation of the state is considered on the example of supporting five fundamental sectors of the economy: energy, transport, water supply, sanitation, and forestry. The influence of globalisation on the sustainable development of socio-economic systems through regionalisation is shown – the peculiar political and economic mechanisms of structural transformation aimed at increasing the efficiency of the economies of the countries participating in the integration association.