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A Regional Model of Industrial Growth Based on Various Strategies of Foreign Economic Activities in the Russian Federation

Author:

Pyotr V. Mikhailovsky and Irina V. Makarova

Abstract:

The paper examines the possibilities of Russia’s integration into the world economic system, speci‑ fies strategic reference points for its economic growth. Applying the discourse analysis method, the au‑ thors assess the possibility to adapt modern models of economic growth existing globally to Russian conditions and point to opportunities for stimulating national development within import substitution and export-oriented models. The study reveals that the choice between the models is not straight and depends on peculiarities of the country and its regions’ economic development, created conditions for foreign economic activities. At the example of Sverdlovsk oblast, the authors identify main directions for implementing a foreign economic policy of an industrial region. In the course of the research, the region’s foreign trade turnover is scrutinized, and models of economic growth for metallurgical, ma‑ chine-building companies and chemical enterprises in the region are developed on the basis of foreign economic strategies. Finally, the article concludes that it is necessary to utilize a comprehensive approach to form models of economic growth based on adoption of various foreign economic strategies.

Keywords: regional economy; foreign economic activities; model of economic growth; industry

For citation:

Mikhaylovskiy P. V., Makarova I. V. Regional'naya model' promyshlennogo rosta na osnove razlichnykh strategiy vneshneekonomicheskoy deyatel'nosti v RF [A Regional Model of Industrial Growth Based on Various Strategies of Foreign Economic Activities in the Russian Federation]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 5 (67), pp. 66–73.