Subject. The article discusses key indicators of the economic growth potential of rural areas with respect to the specifics of the international approach. Objectives. We study approaches to determining the concept of economic growth and key concepts of rural area development, which prevail in modern economics. The study also analyzes the applicable sets of indicators contributing to the effective evaluation and stimulation of the economic growth potential of rural areas. Methods. The study is based on the analysis of the existing theories of the economic growth in rural areas. We systematized economic knowledge and practices of determining economic growth indicators. Results. We analyzed basic difficulties in determining key economic growth drivers in rural areas, and identified aspects that influence the sustainable development and transformation of rural areas, referring to the use of innovative development concepts and their competitive advantages. The article sorts out key groups of various social metrics of the economic growth potential, and shows various combinations of socio-economic development indicators of rural areas. Conclusions and Relevance. The economic growth of rural areas depends in opportunities and drivers of effective strategic development, for which the growth potential should be adequately assessed and implemented. Evaluating the economic growth potential and development of rural areas, it is possible to set up crucial goals for raising the efficiency and competitiveness, such as the development of modern agricultural production, the establishment of the balanced administrative system and the creation of reasons for the State, business and people to follow common interests in order to improve the quality of rural life.
Moseley M.J. Rural Development: Principles and Practice. London, SAGE, 2003, 244 p.
Lee C.S., Lee B.H., Yang S.R. Development of the Agricultural Competitiveness Index. Korean Journal of Agricultural Management and Policy, 2014, vol. 41, no. 4, pp. 666–700.
Jeong J.U. Principles of Community Development. Seoul National University Press, 2007, 104 p.
Rowley T.D. The Value of Rural America. Rural Development Perspectives, 1996, vol. 12, no. 1, pp. 2–4. URL: Link
Bonnett T.W. Strategies for Rural Competitiveness: Policy Options for State Governments. Washington, Council of Governors' Policy Advisors, 1993, 122 p.
Huylenbroeck G., Durand G. Multifunctional Agriculture: A New Paradigm for European Agriculture and Rural Development. Ashgate, 2003, 97 p.
Potter C. Multifunctionality as an Agricultural and Rural Policy Concept. In: Brouwer F. (ed.) Sustaining Agriculture and Rural Environment: Governance, Policy and Multifunctionality. Cheltenham, Edward Elgar Publishing, 2004, 360 p.
Cairol D., Coudel E., Knickel K., Caron P. Conclusion: Which Perspectives for Future Research on Multifunctionality of Agriculture and Rural Areas? International Journal of Agricultural Resources, Governance and Ecology, 2008, vol. 7, no. 4-5, pp. 429–436. URL: Link
Zekic S., Kieut Z., Matkovski B. An Analysis of Key Indicators of Rural Development in Serbia: A Comparison with EU Countries. Economic Annals, 2017, vol. 62, no. 214, pp. 107–120. URL: Link
Torre A., Wallet F. Regional Development in Rural Areas. Analytical Tools and Public Policies. Springer Briefs in Regional Science, Springer, 2018, 110 p.
Knickel K., Renting H. Methodological and Conceptual Issues in the Study of Multifunctionality and Rural Development. Sociologia Ruralis, 2010, vol. 40, iss. 4, pp. 512–528. URL: Link
Foray D. Smart Specialisation: Opportunities and Challenges for Regional Innovation Policy. Routledge, 2014, 86 p.
Foray D. Guide to Research and Innovation Strategies for Smart Specialisations (RIS3). Luxembourg, Publications Office of the European Union, 2012, 114 p.
Frenken K., Van Oort F., Verburg T. Related Variety, Unrelated Variety and Regional Economic Growth. Regional Studies, 2007, vol. 41, iss. 5, pp. 685–697. URL: Link
McCann P., Ortega-Argilés R. Smart Specialization, Regional Growth and Applications to European Union Cohesion Policy. Regional Studies, 2015, vol. 49, iss. 8, pp. 1–12. URL: Link
Bilbao-Osorio B., Rodríguez-Pose A. From R&D to Innovation and Economic Growth in the EU. Growth Change, 2004, vol. 35, iss. 4, pp. 434–455. URL: Link
Barca F., McCann P., Rodríguez-Pose A. The Case for Regional Development Intervention: Place-based versus Place-neutral Approaches. Regional Sciences, 2012, vol. 52, iss. 1, pp. 134–152. URL: Link
Camagni R., Capello R. Regional Innovation Patterns and the EU Regional Policy Reform: Toward Smart Innovation Policies. Growth Change, 2013, vol. 44, iss. 2, pp. 355–389. URL: Link
Cantwell J., Zhang F. Knowledge Accession Strategies and the Spatial Organization of R&D. In: Andersson M., Johansson B., Karlsson C., Loof H. (Eds) Innovation and Growth: From R&D Strategies of Innovating Firms to Economy-wide Technological Change. Oxford, Oxford University Press, 2012. URL: Link
Renski H.C. The Influence of Industry Mix on Regional New Firm Entry. Regional Studies, 2014, vol. 48, iss. 8, pp. 1353–1370. URL: Link
Rappaport J. The Increasing Importance of Quality of Life. Journal ofEconomic Geography, 2009, vol. 9, iss. 6, pp. 779–804. URL: Link
Gosnell H., Abrams J. Amenity Migration: Diverse Conceptualizations of Drivers, Socioeconomic Dimensions, and Emerging Challenges. GeoJournal, 2011, vol. 76, pp. 303–322. URL: Link
McGranahan D.A., Wojan T.R., Lambert D.M. The Rural Growth Trifecta: Outdoor Amenities, Creative Class and Entrepreneurial Context. Journal ofEconomic Geography, 2011, vol. 11, iss. 3, pp. 529–557. URL: Link
Romer P.M. Endogenous Technological Change. Journal of Political Economy, 1990, vol. 98, no. 5, part 2, pp. S71–S102.
Grossman G.M., Helpman E. Technology and Trade. Cambridge, MA, National Bureau of Economic Research, 1994, 84 p.
Porter M.E., Ketels C., Miller K., Bryden R.T. Competitiveness in Rural U.S. Regions: Learning and Research Agenda. Institute of Strategy and Competitiveness Harvard Business School, 2004, 70 p.
Boschma R. Constructing Regional Advantage and Smart Specialisation: Comparison of Two European Policy Concepts. Scienze Regionali, 2014, no. 13, pp. 51–68.
Kyriakou D., Palazuelos Martínez M., Periáñez-Forte I., Rainoldi A. Governing Smart Specialisation. London, Routledge, 2016, 258 p.
Capello R., Kroll H. From Theory to Practice in Smart Specialization Strategy: Emerging Limits and Possible Future Trajectories. European Planning Studies, 2016, vol. 24, iss. 8, pp. 1393–1406. URL: Link
Tritsch I., Arvor D. Transition in Environmental Governance in the Brazilian Amazon: Emergence of a New Pattern of Socio-Economic Development and Deforestation. Land Use Policy, 2016, vol. 59, рр. 446–455. URL: Link
Widomski M.K., Ladziak E., Lagod G. Economic Aspects of Sustainable Sanitation in Rural Settlements. Architecture Civil Engineering Environment, 2017, vol. 10, no. 3, pp. 153–162.
Ottomano P., Govindan K., Boggia A. et al. Local Action Groups and Rural Sustainable Development. A Spatial Multiple Criteria Approach for Efficient Territorial Planning. Land Use Policy, 2016, vol. 59, pp. 12–26. URL: Link
Pavel A., Moldovan O. Determining Local Economic Development in the Rural Areas of Romania. Sustainability, 2019, vol. 11, iss. 1, pp. 12–36. URL: Link
Guzal-Dec D., Zwolińska-Ligaj M., Zbucki L. The Potential of Smart Development of Urban-Rural Communes in Peripheral Region. Regional Studies on Development, 2019, vol. 23, iss. 2, pp. 85–91. URL: Link
