Classic foreign models and their potential use at the regional level

Abstract

The current development of Russian economy requires the development of conceptual approaches to the use of foreign theories, their alignment with the new realities of economic development, and the construction of a national model of import substitution. The national model of development is determined by structural changes in the economy, providing an opportunity for the widespread use of material and financial resources in the formation of regional and sectoral models. The study of foreign theories allows the dynamics of regional development to be assessed. The classic models developed by foreign scholars are useful for analyzing and managing the economic situation in various regions of the country, as well as for identifying key growth factors and opportunities for improving the effectiveness of regional strategies. The application of these concepts in modern conditions facilitates consideration of new challenges and specific features of regional development. The analysis of foreign experience not only enriches the theoretical base, but also contributes to the practical implementation of managerial decisions by regional entities. The severe interference in the national economy and the imposition of large-scale sanctions by Western countries have had a  significant impact on Russian economy and regional development. In these conditions, the classic theories of regional development are acquiring particular relevance.