Evolution of approaches to economy diversification in regional development studies

Olena Snigova
PhD in Economics, Associate Professor, Senior Research Fellow, Department of Economic Growth and Structural Changes in the Economy, Institute of Economics and Forecasting of NAS of Ukraine, e-mail: osnigova@ukr.net, ORCID ID: ORCID ID: https://orcid.org/0000-0001-7456-4894

Cite this article:

Snigova, O. (2019). Evolution of approaches to economy diversification in regional development studies. Ed.: M. Zvieriakov (ed.-in-ch.) and others [Evoliutsiia pidkhodiv do dyversyfikatsii ekonomiky v doslidzhenniakh rehionalnoho rozvytku; za red.: М. I. Zvieriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 1 (69), pp. 83-95.

Abstract

The article determines that the diversification questions in Ukraine are still of hardly limited elaboration and require further study with a focus on aspects of old-industrial regions’ economy competitiveness recovery in global economic environment at the basis of «new» industrial policy concept implementation. It is proved that ensuring of economy effective diversification of old-industrial regions of Ukraine requires the comprehensive understanding of the essence of this process, which formed on the basis of scientific knowledge evolution and restructuring experience, accumulated by global practice. The evolution of approaches to economy diversification in the regional development studies is considered. It was revealed that the peculiarity of studies of structural changes questions in old-industrial regions at the post-soviet area, in particular in Ukraine, is a prevailing accent on the sectoral structure improving and the export potential diversification for these regions. It was found that for the foreign researchers of economy diversification problems are characterized by a focus on: innovational directions of economic activity; revealing the potential of local traditions and global markets requirements; the relationship issues of regional economy efficiency and its economic diversity. The essence of old-industrial region’s economy diversification is specified and the peculiarities of diversification process in these regions are revealed. The factors that influence on the process and determine of diversification final result, are established. The necessity of developing a Strategy of economy diversification of old-industrial regions, which should include the optimal directions selection for increasing of their competitiveness in the global economic space, is determined.

Keywords

diversification of economy; evolution of approaches; old-industrial regions; particularities of old-industrial regions diversification; diversification strategy.

JEL classification: R110; DOI: https://doi.org/10.33987/vsed.1(69).2019.83-95

UD classification: 338.33:332.12

This work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

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