POLICY OF IMPORT SUBSTITUTION AS A MAIN PRINCIPLE OF GROWTH OF INTERNATIONAL COMPETITIVENESS IN THE ECONOMY OF THE REGION OF ROSTOV

Author(s): Abazieva Kamilla Grigorievna, Goncharova Svetlana Nikolaevna, Gudenitsa Olga Vasilievna

Rubric: Regional economy

DOI: 10.21777/2587-554X-2018-3-36-46

Release: 2018-3 (26)

Pages: 36-46

Keywords: import substitution policy, sanctions, import substitution, strategy of import substitution, competitiveness of the region, investment projects, international competitiveness

Annotation: The article gives an assessment of the effectiveness of implementing investment projects for import substitution in the territory of the region in 2018 with a view to increasing the international competitiveness of the Rostov region’s economy. For a long time, the so-called “restorative model” of economic development was functioning in Russia, based on the involvement of unused capacities and labor in production, as well as on the fast-growing external demand for Russian raw materials. In the aggregate, this determined the raw material orientation of Russian exports, high import dependence, technological backwardness and other problematic aspects of the country’s socioeconomic development. As a matter of fact the situation determines high relevance of the survey dedicated to find the ways to invest into import substitution projects on the territory of the region of Rostov, and to help to identify the elements able to impact on the development of the area, rather to increase international competitiveness of its economy. External geoeconomic and geopolitical challenges have a significant effect on bisiness activities of companies. At the same time the rapid increase of geoeconomic competition and geopolitical discrepancies transform not only the business traditions of the region, but seriously reduce the volume of international participation in it. Moreover, the facts mentioned above are extremely significant also out of inmediate context of export activity on world markets, especially if the region is already a subject of economic policy aimed to increase the competitiveness of local enterprises, science inrensity and fabrication of the products. Thus, the analysis of import substitution of economic, social, spatial imperatives of the development of the region is characterised by considerable relevance mostly under the circumstances of global uncertainty, and is a reason of application of various methods for assessing of the present and future of the area.

Bibliography: Abazieva KA.GR., Goncharova SV.NI., Gudenitsa OL.VA. POLICY OF IMPORT SUBSTITUTION AS A MAIN PRINCIPLE OF GROWTH OF INTERNATIONAL COMPETITIVENESS IN THE ECONOMY OF THE REGION OF ROSTOV // Economics and Management. – 2018. – № 3 (26). – С. 36-46. doi: 10.21777/2587-554X-2018-3-36-46