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Regional Economics: Theory and Practice
 

Substantiating possible areas for the border economy's development

Vol. 22, Iss. 9, SEPTEMBER 2024

Received: 18 March 2024

Received in revised form: 25 April 2024

Accepted: 4 June 2024

Available online: 16 September 2024

Subject Heading: SPATIAL ECONOMICS

JEL Classification: R11, R12, R58

Pages: 1615-1627

https://doi.org/10.24891/re.22.9.1615

Ivan A. GOLUBTSOV Lomonosov Moscow State University (Lomonosov MSU), Moscow, Russian Federation
GolubtsovIA@spa.msu.ru

https://orcid.org/0000-0003-3433-8619

Subject. This article discusses the importance of border regions for sustainable development, as unique territories located at the intersection of cultures, economic systems and political interests.
Objectives. The article aims to analyze approaches to the development of border regions, identify optimal strategies that contribute to economic growth, strengthen social stability and improve relations with neighboring states.
Methods. For the study, I used systems, statistical, and comparative analyses.
Results. The article identifies the main factors that determine the development of the border economy, and also assesses the effectiveness of various strategies for the development of border regions.
Conclusions. In Russia, it is necessary to stimulate the participation of public and private structures in the development of the border economy, taking into account the economic and socio-cultural specifics of each border region. Stimulating trade and investment, developing infrastructure, strengthening international cooperation and supporting small and medium-sized businesses will help improve the economic situation in the border areas.

Keywords: cross-border economy, regional development, development strategies, economic growth, international cooperation

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