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Medium-term trends in economic and technological development of metals industry regions

Author

Listed:
  • Daria S. Bents

    (Chelyabinsk State University, Chelyabinsk, Russia)

  • Aleksandr V. Rezepin

    (South Ural State University, Chelyabinsk, Russia)

Abstract

Since metals industry regions are dependent on the location of production resources and infrastructure, as well as have highly capital-intensive production, they usually feature a slowly changing industrial and technological structure of production. In line with the hypothesis of the study, the technological structure of the manufacturing industry determines the differences in their economic development. The study aims to explore the medium-term trends and patterns in economic and technological development of the metals industry regions. The methodological basis of the research is the structural dynamic approach to studying regional economic development. The methods include multivariate data analysis and clustering algorithms, time series estimation and correlation analysis. The study uses the data on large and medium-sized enterprises by types of economic activities for 2006–2021 taken from an information and analytics system FIRA PRO. According to the findings, the Chelyabinsk, Sverdlovsk, Lipetsk, Vologda and Tula oblasts are metals industry regions. The identified medium-term trends in their economic development show different dynamics of input and output indicators of production both by all types of economic activities and in metals industry in particular. The study proves that the dynamics of metals industry regions’ development largely depends on technological characteristics of the manufacturing industry. The results of the research contribute to the understanding of the adaptation mechanisms of regions’ industry to the changing conditions of external environment.

Suggested Citation

  • Daria S. Bents & Aleksandr V. Rezepin, 2023. "Medium-term trends in economic and technological development of metals industry regions," Journal of New Economy, Ural State University of Economics, vol. 24(3), pages 91-118, October.
    • Handle: RePEc:url:izvest:v:24:y:2023:i:3:p:91-118
    DOI: 10.29141/2658-5081-2023-24-3-5
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    References listed on IDEAS

    as
    1. Frank Neffke & Martin Henning & Ron Boschma, 2011. "How Do Regions Diversify over Time? Industry Relatedness and the Development of New Growth Paths in Regions," Economic Geography, Taylor & Francis Journals, vol. 87(3), pages 237-265, July.
    2. Valentina S. Antonyuk & Elena L. Kornienko, 2022. "Economic development of Russia’s old industrial border regions," Journal of New Economy, Ural State University of Economics, vol. 23(2), pages 45-63, July.
    3. David Bailey & Christos Pitelis & Philip R Tomlinson, 2018. "A place-based developmental regional industrial strategy for sustainable capture of co-created value," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(6), pages 1521-1542.
    4. Daria S. Bents, 2022. "Long-term trends in differentiation between regions: Sverdlovsk oblast vs Chelyabinsk oblast," Journal of New Economy, Ural State University of Economics, vol. 23(2), pages 102-124, July.
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    More about this item

    Keywords

    mono-industrial region; Russia's regions; technological structure; metals industry; manufacturing industry;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics

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