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The Determinants of Economic Growth of Regions in the Newest Economic Theories
Storonyanska I. Z., Benovska L. Y.

Storonyanska, Iryna Z., and Benovska, Liliya Ya. (2020) “The Determinants of Economic Growth of Regions in the Newest Economic Theories.” Business Inform 10:118–127.
https://doi.org/10.32983/2222-4459-2020-10-118-127

Section: Regional Economy

UDC 332.01

Abstract:
None of the existing theories of economic growth of regions has by now offered any opportunity for a complete solution to the problems. New realities of our time require new scientific approaches to substantiating the economic growth of regions, searching for determinants, leverages, principles. The article is aimed at theoretical-methodological substantiation for the economic growth of regions in modern conditions, defining the main determinants and principles of growth. Based on the analysis of the newest theories of economic growth of regions, it is stated that the main determinants of economic growth of regions in today’s conditions are a person with its human capital; the innovations that provide a breakthrough; informatization of all social and economic processes of society. A change in the emphasis of human capital has been made: if in the past attention has been focused on its educational component, then in modern conditions, knowledge, talent, creativity come to the fore. The emphasis in innovation development is the need for symbiosis of innovations and competitive advantages of territories. The peculiarity of the development of regions in modern conditions is their orientation to internal factors and the mechanisms of economic development, because economic growth is generated within the system. There was also a shift of emphasis from a stable development of regions to inclusive, which, in addition to the ecological component, takes into account the need to involve all members of society into solving problems of all territories. The determinants, goals, principles and levers of economic growth of regions are allocated in terms of the newest economic theories.

Keywords: region, economic growth, human capital, innovations, principles, determinants.

Fig.: 1. Tabl.: 1. Bibl.: 11.

Storonyanska Iryna Z. – Doctor of Sciences (Economics), Professor, Deputy Director, Institute of Regional Research named after M. I. Dolishniy of the NAS of Ukraine (4 Kozelnytska Str., Lvіv, 79026, Ukraine)
Email: [email protected]
Benovska Liliya Ya. – Candidate of Sciences (Economics), Senior Research Fellow, Senior Research Fellow, Department of Regional Financial Policy, Institute of Regional Research named after M. I. Dolishniy of the NAS of Ukraine (4 Kozelnytska Str., Lvіv, 79026, Ukraine)
Email: [email protected]

List of references in article

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Snihova, O. “Rozkryttia potentsialu smart-spetsializatsii dlia podolannia rehionalnoi strukturnoi inertnosti v Ukraini“ [Smart Specialization Potential Revealing for the Overcoming of Regional Structural Inertness in Ukraine]. Ekonomika Ukrainy, no. 8 (2018): 75-87.
Mitchell, R. K., Agle, B. R., and Wood, D. J. “Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts“. Academy of Management Review, vol. 22, no. 4 (1997): 853-886. DOI: 10.2307/259247
Bryzhko, V. M. et al. Informatsiine suspilstvo. Definitsii: liudyna, yii prava informatsiia, informatyka informatyzatsiia, telekomunikatsii, intelektualna vlasnist, litsenzuvannia, sertyfikatsiia, ekonomika, rynok, iurysprudentsiia [Information Society. Definitions: Man, His Rights Information, Informatics Informatization, Telecommunications, Intellectual Property, Licensing, Certification, Economics, Market, Jurisprudence]. Kyiv: Intehral, 2002.
Maslov, A. “Teoriia informatsiinoho suspilstva yak metodolohichna osnova teorii informatsiinoi ekonomiky“ [The Theory of Information Society as a Methodological Basis of the Theory of Information Economy]. Visnyk Kyivskoho natsionalnoho universytetu im. T. Shevchenka. Seriia «Ekonomika», no. 123 (2011): 24-28.
“Stale endohenne zrostannia rehioniv Ukrainy v umovakh detsentralizatsii“ [Sustainable Endogenous Growth of Regions of Ukraine in the Conditions of Decentralization]. http://ird.gov.ua/irdp/p20190009.pdf
Ivanova, O. Yu. Formuvannia potentsialu samorozvytku rehioniv Ukrainy v konteksti transformatsiinykh protsesiv [Formation of Potential of Self-development of Regions of Ukraine in the Context of Transformation Processes]. Kharkiv: VD «INZhEK», 2014.
Malyi, I. I., Yemelianenko, L. M., and Dzenzeliuk, K. V. “Implementatsiia kontseptsii inkliuzyvnoho rozvytku v praktyku rehuliuvannia zainiatosti naselennia“ [Implementation of the Concept of Inclusive Development in Practice of Regulation of Population Employment]. Efektyvna ekonomika, no. 12 (2018). DOI: 10.32702/2307-2105-2018.12.13
Metodolohichni osnovy otsinky rivnia kapitalizatsii subiektiv hospodariuvannia [Methodological Bases for Assessing the Level of Capitalization of Economic Entities]. Lviv, 2008.
Kozoriz, M. A. et al. Upravlinnia innovatsiinymy protsesamy v rehionakh [Management of Innovation Processes in the Regions]. Lviv, 2006.

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