RuEn

Journal section "Socio-economic development strategy"

The Impact of Foreign Economic Activity on Regional Development: Comparative Analysis of Russian and Foreign Experience

Lavrikova Y.G., Andreeva E.L., Ratner A.V.

Volume 13, Issue 6, 2020

Lavrikova Yu.G., Andreeva E.L., Ratner A.V. The impact of foreign economic activity on regional development: comparative analysis of Russian and foreign experience. Economic and Social Changes: Facts, Trends, Forecast, 2020, vol. 13, no. 6, pp. 54–67. DOI: 10.15838/esc.2020.6.72.3

DOI: 10.15838/esc.2020.6.72.3

Abstract   |   Authors   |   References
Global economic challenges, along with a slowdown in the world economy growth, lead to the need to consider foreign economic activity (FEA) as a factor affecting regional development. Due to non-resource exports, both quantitative (increasing the exports volume, employment, investment inflows, tax base) and qualitative tasks (diversifying the economy, increasing competitiveness and innovation, production of high-value products) are solved. In this regard, a scientifically based assessment of the FEA role in the regional development strategies is relevant which can be the basis for developing a set of mechanisms and tools for the region's foreign economic development. The purpose of the article is to substantiate the FEA development impact on the regional development by identifying the reflection of its prospects in the development strategies of Russian regions and different countries’ regions. The object of the research is FEA of the selected regions of the Russian Federation, developed countries (Germany, USA), and EAEU countries (Belarus and Kazakhstan). The scientific novelty is to identify the relations between the degree of economic development and FEA countries, and the reflection of promising areas and tools for the FEA development in the development strategies of their regions. The methodological base is represented by the approaches to defining the determinants and principles of FEA support. There were included the following methods: an indicators’ comparative analysis of the economic and FEA development levels of the selected countries and the prospects for the FEA development (in areas, including export of services; non-resource export; export diversification; etc.) in their regions’ strategies. The analysis results confirmed the assumption that the reflection of the directions and tools of FEA development is paid attention to both in developed and developing economies, but different countries have their own specifics. The analysis allows taking into account the experience of developed countries and leading exporters, as well as the EAEU members, when working out individual strategies and program documents of the regions in the FEA field

Keywords

investment attractiveness, foreign economic activity, development priorities, non-resource export, region’s development strategy, experts support, diversification of the economy and export

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