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THEORETICAL ASPECTS OF THE DEVELOPMENT AND GROWTH OF THE REGION’S ECONOMY AFTER OVERCOMING THE CRISIS PHENOMENA

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PDF: Author(s): Bazhenov S. I.,
Number of journal: 2(55) Date: May 2021
Annotation:

The article is a brief excursion into the theoretical foundations of the formation of policies that regulate economic processes in the region. The decision on the development and subsequent implementation (application) of the theoretical foundations of economic development by the region is made with consideration of the top-level documents, which, in turn, are formed by applying the best international practices and scientific research and development. The observed economic shocks, from the fall in oil prices to the introduction of restrictions related to the spread of infectious diseases, make it necessary to apply new approaches and theoretical knowledge on the way to the sustainable development of the region’s economy. In the present study, the author gives a classification of industries and individual types of economies at various stages in the conditions of overcoming the crisis phenomena. The economy is represented as a collection of parts that it consists of and depends on. The author suggests using the method of inventory of all participants and components of the economic process in order to identify the factors of the external and internal contours that contribute to the balancing of the economic system. When studying the research topic, the author aimed to develop a theoretical and methodological approach to the formation of sustainable development of the region’s economy, systematizing existing approaches and developing a certain action plan, according to which the region in particular, as well as the state (as the federal level) and individual significant large economic entities in general will be able to adapt to the new economic reality. The author shows the method of making managerial decisions and developing theoretical plans from the main link to the smallest part of the economic process.

Keywords:

management, region, crisis, risks, crisis management, region economy, development indicators, road map, theoretical aspects, regional regulation, inventory of economic processes, restructuring.

For citation:

Bazhenov S. I. Theoretical aspects of the development and growth of the region’s economy after overcoming the crisis phenomena. Business. Education. Law, 2021, no. 2, pp. 54—59. DOI: 10.25683/VOLBI.2021.55.257.