Analysis of the region`s foreign economic activity: approaches and results
Abstract. In the context of modern geopolitical instability and ever-increasing international competition, foreign economic activity has become a priority for developing the region`s socio-economic potential and enhancing its competitiveness. The current challenges and complexities of global economic processes necessitate the improvement of methodological approaches to analyzing, evaluating, and forecasting the foreign economic activity of regions, taking into account their sectoral specifics, competitive advantages, institutional development levels, and the impact of globalization processes on the formation of effective and sustainable development models. The work used general theoretical methods such as induction, deduction, analogy, con-cretization, and classification, as well as practical methods such as observation, comparison, and economic and statistical analysis. The article investigates domestic and foreign methodological approaches to analyzing foreign economic activity of countries and regions. The key indicators of the Samara Region`s foreign economic activity for 2012-2022 are analyzed. The results of the analysis confirm the thesis about the need to develop domestic methods for analyzing foreign economic activity and to develop an integrated approach to assessing the region`s foreign economic activity, taking into account the institutional and strategic factors of analysis, integration and globalization processes in which the region is becoming a full-fledged participant today.
Keywords:region, foreign economic activity, export, import, indicators, methodology.
Hightlightts:
- the region`s foreign economic activity is a strategic mechanism for adapting to global challenges and is a tool for spatial development;
- foreign approaches to the analysis of foreign economic activity of countries and regions are more focused on global processes and use complex econometric, predictive and analytical models, while domestic methods are more often descriptive, reporting and statistical in nature, focusing on statistics and government regulation;
- an integrated approach to the analysis of the region`s foreign economic activity requires taking into account infrastructural, institutional, external and investment factors and makes it possible to substantiate the strategic priorities of regional policy in the field of foreign economic activity;
- the key and most common indicators that characterize the degree of a region`s involvement in international trade are export quota, import quota, foreign trade turnover, import export coverage ratio, and import dependency ratio;
- using the example of the Samara region, it is shown that export diversification and the development of export infrastructure increase the stability of the regional economy.
Maria S. Guseva - Samara State University of Economics, Samara, Russia; Sofya V. Oleinikova - Samara Regional branch of the All-Russian Public Organization "Business Russia", Samara, Russia