Prospects For Regional Development Research Articles

Assessment of the level of socio-economic development of the Rostov region based on the balance of regional subsystems

Subject. The conditions determining the balanced development of regional subsystems depend on multiple factors that influence the degree of regional development of a certain region. In today's world, the balanced development of regional subsystems directly affects the level of socio-economic development of the regional economy. Objectives. Justification of a methodological approach to assessing the region’s level of socio-economic development through the prism of the balance of its subsystems (social, environmental, and economic). Methodology. The research methodology is based on a systematic approach, and in this work we used the following: general scientific and special analytical methods: logical analysis, used in the study of methods for assessing the balance of regional development; structural and logical analysis, allowing to organise and clarify the terminology in the conceptual framework of the “balanced development of the region”; generalisation and grouping (while selecting statistical indicators). Economic-mathematical and economic-statistical methods were also used to analyse and assess the relation between indicators, including the method of index correlations. It allows determining the degree of one indicator influencing another and evaluating their correlation. The method of visualisation was used to clearly demonstrate the results of the study and analytical data. It helped to present the obtained results in graphical or diagrammatic form so as to better understand their meaning and make conclusions. Comparative and economic analysis was used to analyse the balance of the region's component subsystems (social, environmental, and economic). Comparative analysis allows determining the differences and similarities between these components and assess their impact on the overall development of the region. Economic analysis identifies economic factors influencing the state of the region and assesses the efficiency of its subsystems’ operation. The method of expert assessment is used to justify a set of indicators and assess the efficiency of regional subsystems’ operation (social, environmental, and economic), which allows obtaining more objective and substantiated data for the analysis and assessment of the region’s activities. Results. The obtained results indicated that the development system of the Rostov region is imperfect, and social, environmental, and economic subsystems were not balanced. The assessment of the balance of regional development showed a low level of economic activity in the region, which was 1.9 points, being below the average value (from 2 to 3 points). This indicator means that the state of the socio-economic system is unstable, therefore, a mechanism must be created to regulate the balance of the target characteristics of the system. This will serve as a fundamental line for future research. Discussion. The obtained results were compared with the conclusions of researchers who assessed the level of socio-economic development of the region in the specified time periods based on an assessment of the balance of regional subsystems and made forecasts regarding the prospects for regional development. Conclusions. The conducted analysis allowed making conclusions on the informative characteristic in the balance of regional development as a result of the influence of economic, social, and environmental factors on the region’s subsystems; the elemental composition of integral indicators for assessing the balance of regional subsystems in particular and regional development in general, including the informative side of assessing the socio-economic development of the region; and features of the methodological approach based on the scoring of regional development indicators.

Regional development in Сentral Asia: status, problems and prospects

The article deals with the problems of the impact of the global COVID-19 pandemic on the economy of the Central Asian countries (CA), where such industries as the healthcare system, transport and supply, services and employment, incomes and social protection of the population, trade relations between regions and the export of natural resources were mainly affected. The article analyzes the anti-crisis measures taken by national governments for the comprehensive recovery and development of regions, as well as the sustainability of economic growth in general. The consequences and prospects of regional development are considered, the difference in approaches to the implementation of anti-crisis measures in each of the Central Asian states is emphasized. The authors of the article believe that anti-crisis support measures should be maintained until the recovery of the economy and social sphere becomes an irreversible process, since the unpredictability and uncertainty of the course of the pandemic, its possible protracted nature acts as the main risk of disruption of the planned terms of economic recovery and social development of the regions.

Determinants of FDI inflows to West Africa: Prospects for regional development and globalization

Abstract This paper examines the determinants of foreign direct investment (FDI) inflow into West Africa. FDI is regarded as the central engine for growth. Such inflows are not often satisfactory, both in terms of their volume and in terms of their sectoral distribution, particularly in developing countries. The study carried out a unit root test using the Im-Pesaran-shin (IPS) method, which revealed that four out of many variables were stationary at first difference, while other variables were stationary at level. Consequently, the Kao co-integration test methodology was used to analyze the long-run relationship. Thus, the regression analysis was carried out using the Panel ARDL method in an equation with a 50-year observation period. Concerning the remaining seven equations with shorter time series observations, the Pooled OLS estimation method was used to analyze the factors determining the inflow of FDI. The results indicate that financial development has a negative effect on FDI flows (and hence on globalization processes) in West Africa, while trade openness, institutional composite index and control of corruption have positive effects on FDI and hence increase globalization tendency. Based on these findings, the study recommends, among other things, that the authorities in West African countries vigorously pursue trade liberalization policy as an effort to globalize the region through FDI inflows. The study examined the macroeconomic determinants on FDI alongside institutional and socio-political determinants that are difficult to study in the case of West Africa as a region. The use of a composite institutional quality index, which combines multiple indicators of institutional quality, is another novelty of this research. Another unique contribution of the study is the use of the Africa Infrastructure Development Index (AIDI), which serves as a composite infrastructure index, as an explanatory variable.

Assessment of Socioeconomic Impact Diversification from Transport Infrastructure Projects: The Case of a New Regional Airport

In most cases, the decision to invest in a new airport is not simple, mainly because of the complications in the planning process, the amount of capital that needs to be invested before the establishment of the business, and the number of stakeholders involved in the decision. The decision process is more complicated in restricted economic and financing conditions, where the performance of the business plan is strongly related to regional development prospects and future airport business outputs in the medium and long term. This paper provides an evaluation methodology approach to support decisions on airport development projects. The proposed methodology provides an evaluation framework based on a combination of an ex ante assessment analysis, considering the airport’s economic impact and its contribution to a specific regional economy. The Input–Output (IO) analysis framework is used to determine the economic footprint of the airport development. A series of key performance indicators (KPIs) are introduced to review the project performance in a given economic system. The case study is examined, focussing on a new airport at Heraklion in Crete (in the Kasteli valley), one of the most attractive tourist destinations in the southeast Mediterranean. Conventional wisdom is to present a systematic approach appropriate to relevant projects, providing essential tools that support decisions at the level of strategic planning. The approach is essential to provide key messages to national governments, decision makers, and stakeholders on the contribution of an airport investment to regional economic development and its contribution to the business ecosystem in the post-COVID-19 era.

KAZAKHSTAN’S POSITION IN THE ECONOMIC COOPERATION WITH OTHER COUNTRIES OF CENTRAL ASIA

Improving the forms and mechanisms of regional economic integration, deepening the mutual understanding on the formation of an economically and politically secure integrated space, expanding trade and economic relations, elaborating joint actions to maintain regional peace and stability, creating a single information space are among the key areas that have become the basis of cooperation among the Central Asian region (CAR) states. The authors reveal the positive aspects of cooperation among the CAR countries—Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, and Tajikistan. First and foremost, these include common historical roots, linguistic and cultural similarity, convenient geographical location and established economic ties, which allow the states of Central Asia (CA) to establish a deeper and more active understanding of each other, to solve economic and political problems related to finding and realizing domestic investment potential and expanding regional trade and economic ties. The joint establishment of international transport corridors and infrastructure will help reduce the transport costs for Central Asian countries that supply export products to external markets, which is an important area of ​​cooperation in Central Asia. In addition, the economic problems that exist among the regional countries largely determine the nature of relations between them. Future solution of problems determines the subsequent viability of the Central Asian Regional Economic Cooperation (CAREC) and the regional development prospects. Based on the use of economic research tools, the authors examine the problems caused by the COVID-19 pandemic and their impact on the state of trade and economic relations between the regional states. Post-crisis plans for economic recovery in the Central Asian countries will be developed and implemented in the context of the need to solve the present-day problems associated with the gradual lifting of quarantine measures. In this regard, the quickest possible transition of economies to an upward growth trajectory should launch the expansion of trade and economic cooperation and ties among the Central Asian countries. The authors emphasize the fact that another important problem within CAREC is the fact that CAR economies are dominated by raw materials, which does not solve the problems of reducing social inequality and improving the welfare of the regional population. For this reason, Kazakhstan, like other Central Asian countries, is currently in search of a new economic model. The transformation is crucial because the country needs to overcome its excessive long-term dependence on the export of oil and raw materials. The new economic model should be focused on further industrialization and diversification of the economy, on the search for new innovative approaches and development strategies.

Current Situation and Prospects of Regional Development in Mongolia: On the Example of the Eastern Region

Current Situation and Prospects of Regional Development in Mongolia: On the Example of the Eastern Region

Impact of peat industry development on regional sustainability

The study aimed to substantiate the nature of the interaction between the economic efficiency of the peat industry and the sustainability of the region on the example of the Khanty-Mansi Autonomous Area (KhMAA) of Russia. Based on the development indicators of the districts of KhMAA for 2017-2020, the factors characterizing the components of sustainable regional development were determined using the principal components’ method. Using the fuzzy sets’ method, the values, levels of the factors, and the integral indicator of sustainable development were calculated, and the realized and unrealized potential of peat industry development in the context of the districts of the study area were determined. The causal relationships between indicators of regional sustainable development and peat industry potential, and the nature of dependence between the indicators, are argued. The regional development prospects were revealed through the peat industry development based on the regression models built by calculating the elasticity coefficients.

EVOLUTION OF SCIENTIFIC AND THEORETICAL CONTENT OF TERMINOLOGY ELEMENTS "RESORT-RECREATION-TOURISM"

Experience of territorial organization resort, recreational and tourism zones in Ukraine has been generalized. Problems of terminology and classification different territory-spatial objects have been characterized.
 The article content embraces investigations in both theoretical and applied aspects in the field of geographic and town-building sciences. The publication purpose is to present the basic knowledge in the field of potentialities, main trends and prospects of regional development, creation of really comfortable infrastructure for rest and cultural development of the people.
 The forming of architecture-landscape environment for rest and tourism is a result a complicated process of integration the unique natural and material objects using functional, organizational and transport-pedestrian relations and creation of various subject-spatial forms for performing the cultural, cognitive, ecological, recreational and other kinds of management.
 The problems of development of the system «resort-recreation-tourism» as the branch of economy prove to be urgent. Basing on the main principles of «sustainable development» - ecologic, social, cultural and economic stability, the first-turn arrangements should consist in transformation rest and tourism enterprises with market mechanisms of functioning.

Empirical assessment of the impact of digital transformation upon development of inclusive model of economic growth of the region

The subject of this research is the economic relations concerning the development of the model of inclusive development of the region based on transformations implemented in the field of digitalization of economic relations. The object of this research is the regions of the Volga Federal District. The authors dwell on the aspects and peculiarities of formalized assessment of the inclusive model of economic growth in the regions, taking into consideration the built integral indexes of digitalization of their socioeconomic systems, as well as aim to build integral indexes that characterize the key vectors and development trends of the analyzed categories with subsequent construction of models that assess the degree of their interrelation. Special attention is given to questions of comparative analysis of the regions of the Volga Federal District in accordance with the determined parameters and peculiarities of the developed model of inclusive economic growth. The main conclusions lie in the provisions, according to which regions with the higher level of inclusive development demonstrate better indicators of socioeconomic development. The authors’ special contribution consists in the construction of time series that assess the quantitative and qualitative parameters of digital transformation of the regions and the degree of development of their models of inclusive growth, which allows acquiring new results that would reveal the peculiarities and prospects of regional development in the new economic conditions. The author not only determined the degree of impact of digital transformation processes upon the prospects for the transition of the regional socioeconomic systems to a new, inclusive type of development, but also to formed the basis for further expansion of the approaches used in economic theory for studying the economic dynamics.

Attribute of the Effects Diversification to Eco-System from Large Investments in Supply Chain

In most of the cases the decision to invest in a new large transport infrastructure project t is not simple, mainly, because the complications in planning process, the amount of capital need to invest before the business establishment and the high number of stakeholders involved in decision process. The decision process is more complicated in restricted economic conditions and financing assumptions, where the project business plan performance is strongly related to regional development prospects and business sectors enlargement. This paper provides an attribute methodology approach to support decisions in large transport infrastructure projects based on the effects diversification to ecosystem affected by the new projects. The proposed methodology provides an evaluation framework based on a combination of an ex-ante assessment analysis taking into consideration the large transport infrastructure projects economic impact and its contribution to enlargement of the sectors of the ecosystem.

Факторный анализ инвестиционного развития на примере Витебской области Республики Беларусь

The Republic of Belarus is currently moving on to market relations in pursuit of sustainable development. The level and prospects of regional development, as well as various local problems, directly affect the state of the country’s economy. The research features the socio-economic state of one of the regions of the Republic of Belarus in comparison with other entities. The paper describes a factor analysis of the investment development in the region. The authors analyzed the investment potential of the Vitebsk region, assessed its social and economic development, conducted a multidimensional comparative analysis to characterize its economic and social sphere, and rated its districts. The paper introduces a regression model of the effect of investment on the gross regional product and a map of "points" of social and economic development of the districts, together with possible directions of investment development.

Prospects for Regional Development (the Case of the North Caucasian Federal District)

The article presents the possibilities of regional development considering the factors of growth and available potential. The influence of the heterogeneity of the achieved level on the prospects for the development of regions is noted. Considering the particularities of each region of the North Caucasian Federal District, specific examples of the formation of their development strategies are given.

Regional Development in Conditions of Limitation of Water Resources: Correlation Interconnections

The main idea of the article is to study the problem of regional development in the conditions of limited water resources. The subject of the study is theoretical and methodological provisions and applied practical recommendations for the regulation of regional development in the conditions of limited water resources. The purpose of the article is to determine the connection between water supply (water potential) of Ukrainian regions and their specialization in production and trade in the conditions of water resource constraints and determine the further prospects for regional development.

GLOBAL PROCESS OF CAPITAL ADAPTATION AND PROSPECTS OF REGIONAL DEVELOPMENT OF UKRAINIAN FOREIGN BORDER

The article analyzes the prospects for regional development of the Ukrainian Black Sea Region on the basis of the new economic mechanism of investment system that can ensure the use of a global surplus of savings to create new enterprises and industries in the unfavorable institutional conditions of the Ukrainian economy. The most important feature of the modern process of capital accumulation in the global economy is the formation and sustained reproduction of the so-called global surplus of savings, the main source of which is the rapidly growing economy of China and other Asian countries. In these circumstances, the development of economic mechanisms capable of absorbing the global surplus of savings and transforming it in real investments directed towards the growth of production. Different variants of formation of initial capital of this bank are considered in the article. First of all, this is the "Chinese version", according to which the Black Sea Investment Bank is created, mainly with Chinese capital, which becomes the center of the mechanism of a two-level investment system. He finances the creation of not so much infrastructure as directly industrial facilities based on Chinese technology and equipment, with the further sale of new enterprises to private hands. Another option is to hope for the creation of the start-up capital of the Black Sea Investment Bank to the international financial organizations: the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank and other international financial institutions. The practical conclusion is that although the "Chinese version" is not directly related to the creation of the new Silk Road, it seems more likely than the creation of such an investment system by international financial organizations.

Growth-based Theories for Declining Regions? A Note on Conceptualisations of Demographic Change for Regional Economic Development

This article aims to critically assess the economic growth paradigm, which typically underlies most approaches to regional policymaking for demographic change. While population losses, ageing and outmigration – i.e. phenomena that are addressed as demographic change – have become a matter of urgency for many European regions, most regional economic development theories remain silent about the population decline affecting the economic growth and development prospects of regions. Consequently, regional policies usually rely on the concept of economic growth, yet neglect the complexity and importance of demographic change and how it relates to the economic sphere. Due to this lack in nuance, we argue that regional policymaking fails to design adequate policy support for regions facing persistent demographic change and economic stagnation or decline as a result. Based on these observations, the paper examines a selection of regional economic development theories in search for alternative concepts of growth and development in the context of demographic change. To this aim, globalisation peripheries are introduced as a fruitful conceptual point of reference and, in combination with endogenous regional development theories, discussed as an alternative approach for regional policymaking.

Перспективы регионального развития промышленного туризма в свете анализа основных экономических показателей российской туриндустрии

Перспективы регионального развития промышленного туризма в свете анализа основных экономических показателей российской туриндустрии

Сценарии пограничной политики на российском Дальнем Востоке в контексте вариантов развития региона

Сценарии пограничной политики на российском Дальнем Востоке в контексте вариантов развития региона

Problems and prospects of the flexible employment forms’ development in the northern region

On the basis of the analysis of demographic and social problems of the Russian northern regions on the example of the Arkhangelsk region, the forms and methods of their solutions are proposed on the basis of the increasing the flexibility of employment as one of the most promising regional areas development to ensure more effective use of labor potential due to a shortage of jobs, depopulation and low living standards in many northern areas. The main factors and development prospects of flexible employment forms on the North are allocated. The reasons for ambiguous results obtained when using these shapes employment are assessed. The main principles of effective regional policy, based on a clear coherence between its goals and objectives with the organization mechanisms of employment, are formulated. At the end of the paper, the following conclusion is made: in North conditions, where the negative effects of demographic, migratory, socioeconomic processes are acuter than in other Russian regions, the prospects for regional development will largely be determined by the finding of effective mechanisms for the organization of employment.

AGGLOMERATION ECONOMIES IN EUROPEAN REGIONS: PERSPECTIVES FOR OBJECTIVE 1 REGIONS

ABSTRACTEconomic growth is one of the main European policy objectives of structural funds targeted at objective 1 regions. In an empirical analysis on growth differentials over 219 European regions between 2000 and 2010, we find that – controlled for other determinants – objective 1 regions grow in productivity due to higher degrees of specialisation, while other regions grow faster in employment, being embedded in a diverse economic environment. We argue that the type of agglomeration economies in combination with the structure of the economy is crucial for future long‐term development prospects of regions – and that especially the larger objective 1 regions should diversify their economy more to reap long‐term convergence prospects. This outcome favours a focus on place‐based development, as advocated recently by the European Union.

The Economics of HIV/AIDS: A Survey

This article surveys the main economic issues associated with the HIV/AIDS epidemic, paying special attention to sub–Saharan Africa. It explores the economic and behavioural determinants of HIV transmission, the microeconomics of market failures associated with high HIV prevalence, the prospects for regional development from a macroeconomic perspective and the efficient design of policies for coping with the epidemic. In line with the recent appeal by the UN Secretary General, the article argues that, without a decisive effort to halt HIV/AIDS, people living in the region are bound to experience a further fall in their standard of living in both relative and absolute terms. However, to be effective, anti–AIDS programmes must be rooted in sound economic principles.