Abstract
Events caused by complex crisis which became evident in regional economies as a result of the spread of COVID-19 have affected the manufacturing industry of the South of Russia. The purpose of this article is to identify and analyse the prospects for the sustainable development of industry in the South of Russia in the context of new economic trends. The methodological basis of the study is founded on the theory of shocks, which made it possible to place at the center of the system of cause-and-effect relationships a set of factors in business activity decrease, which are considered as shocks that form new development trends. The analysis revealed the presence of problems of production interruptions and break of supply chains, reduction in resource flows, as well as a decrease in effective demand for industrial products. According to the opinion of the authors, the prospects for the development of the industrial complex of the region are associated with the balance of market self-regulation and government regulation, and are also determined by the accumulated potential of the regional industry and available adaptive capabilities.
Highlights
Events caused by complex crisis which became evident in regional economies as a result of the spread of COVID-19 have affected the manufacturing industry of the South of Russia
According to the position of the authors, the prospects for the development of the industries of the regions are determined, on the one hand, by the balance of market selfregulation and state regulation of processes of support of the sustainability of industrial enterprises in a pandemic, on the other hand, by the accumulated economic potential and adaptive capabilities of the industrial complex of the region itself, proving the ability to continue its work in new economic realities
The subject of research is the possibility to adapt of the industrial complex of the South of Russia, determined by its social and economic potential, as well as by the support measures provided by government
Summary
The main indicator characterizing the regional sectoral structure is gross regional product (GRP). The share of products of high-tech and knowledge-intensive industries is about 20% and over the past 5 years this indicator has remained practically unchanged, lagging behind the average Russian dynamics. Taking this fact into account, we can say that the problems with stocks and supplies of raw materials for high-tech production will not directly affect the economy of the regions under analysis. Innovative and high-tech production in the region was provided by the activities of integrated structures (clusters) in the field of helicopter construction, agricultural and nuclear engineering
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