Academic journal article Academy of Strategic Management Journal

Managing Sustainable Development of the Regional Economy in the Conditions of Russian's Accession into WTO

Academic journal article Academy of Strategic Management Journal

Managing Sustainable Development of the Regional Economy in the Conditions of Russian's Accession into WTO

Article excerpt

INTRODUCTION

In modern conditions of Russia's accession to the WTO the actual task for the region is to ensure the sustainable development of the national economy. The regions of Russia, being in the common economic space of the country play an important role in the processes of ensuring the security and stability of the national economy. Therefore, the determining factor of security and stability of the national economy in terms of Russia's accession to the WTO becomes a sustainable development of the regional economy. Sustainable development of the regional economy depends on the development of economic potential, economic stability of a regional system, the branch structure of the regional economy. Depending on these factors, the problem of ensuring the sustainable development of the regional economy in terms of Russia's accession to the WTO will have their regional characteristics.

Sustainable development of the regional economy, along with the general laws of development of the national economy is determined by the specific features which are related to the structure of the gross regional product (GRP), a specific gravity of competitive products of the basic economic industries, including exports to total production in the region, security resource potential income and the mentality of the population.

Depending on this, the problems arising in the conditions sustainable development of the regional economy in the conditions of WTO market will have their regional features.

Solving the sustainable development problems of the regional economy requires new approaches in determining the regional economic policy, strengthening the regulatory role of the state in managing the sustainable development of the regional economy, the development of the effective systems, tools and methods of state regulation.

THE RESULTS

Sustainable development of the regional economy is determined by the following conditions:

1. Economic independence;

2. A stable and sustainable development of the regional economy;

3. Maintaining the continuous growth of the regional economy.

Thus, the sustainable development of the regional economy consists of three essential elements:

Economic independence of the region expresses the degree of its economic security (primarily financial) resources that allow npoBognTb the independent economic policy, the development of management forms and methods for sustainable development of the regional economy.

Stable and sustainable development of the regional economy is the ability the region's economy to withstand to the various impacts, leading to its decline and a rapid return to the original state in case of nonobservance, or to achieve higher point in its development, steady improvement in the quality of life and ensure a constant expanded reproduction of territorial and economic complex.

Maintaining the continuous growth of the regional economy is based on scientific and technological progress, innovation progressive forms and methods of work organization, the development of effective tools and methods for regulation of investment and innovation.

No less important are the relationship between the sustainable development of the regional economy and the economic stability of its systems as part of the mechanism of regional economic development, the source of which is the production of the gross regional product (GRP).

Sustainable development of the regional economy depends on the economic stability of the enterprises, which form a regional economic system. The economic stability of the entity is the ability of the economy to resist and prevent exposure that could lead to a decline in production. The production, which ensures the release of the necessary commodities with minimal costs with efficient using of factors of production and in time, can be steadily developing (Rubtsov, V.A., Gabdrakhmanov N.K., Mustafin, M.R., Arzhantseva, N. …

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