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Distributional Growth Paradigm in the Strategies of Sustainable Regional Development

Author

Listed:
  • Rogneda Vasilyeva

    (Ural Federal University (Russia))

  • Kazi Sohag

    (Ural Federal University (Russia))

  • Shawkat Hammoudeh

    (Drexel University (USA))

Abstract

The issue of bringing outsider regions closer to leaders in conditions of unequal distribution of assets in order to establish sustainable development is a big task, both on the part of the government and of the companies as well. The authors of the article raise the question of the choice of distribution mechanisms and their connection with the development of an optimal strategy for sustainable development. There are no universal tools in this regard, which means it is necessary to develop a complex combination of strategic decisions that takes into account the capabilities of the regions and the companies based there. Corporate strategies could significantly augment government action. This task is especially relevant for a country with a heterogeneous distribution of natural resources, among which Russia, making the emphasis is on fiscal decentralization as an equalization tool. Assessing its impact on the economy of Russian regions, the authors state that, despite its effectiveness in other countries, it is not workable for Russia. The solution seems to be the search for unique market mechanisms, the possible attraction of dynamic companies to the region and the selection of other mechanisms that trigger sustainable development.

Suggested Citation

  • Rogneda Vasilyeva & Kazi Sohag & Shawkat Hammoudeh, 2023. "Distributional Growth Paradigm in the Strategies of Sustainable Regional Development," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 17(4), pages 54-67.
    • Handle: RePEc:hig:fsight:v:17:y:2023:i:4:p:54-67
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    sustainable development; development strategies; regional inequality; regional development; resource capabilities; fiscal decentralization;
    All these keywords.

    JEL classification:

    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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