DEVELOPMENT TRENDS OF THE REGIONAL ECONOMIES BEFORE AND AFTER THE CRISIS

Abstract

Rapid fall of oil prices and introduction of economical sanctions have proven rightness of the position of experts, who many years demonstrated the dangers of economic growth’s dependence on the import of technologies. The extent of this dependence, exposed during the last year, turned out to be tremendous. At the regional level the situation appeared to be even more threatening. There is a real danger that a number of modern production facilities will be stopped; and they are the facilities, which were mostly counted on in the process of regional economies’ modernization. It is clear that the country needs a new strategy of socio-economic development, primarily, for the industrial production sphere. And the strategies for regional modernization should act as one of its basic units and it will require an understanding not only of the resources, available in the regions and republics of the Federation for addressing this challenge, but also of what are present development trends of their economies. The article is dedicated to answering this question for readers’ attention.