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AN APPROACH TO IDENTIFYING PROSPECTIVE COMMODITY MARKETS IN THE REGIONS OF RUSSIA

I. Filimonenko, Z. Vasilyeva, O. Karpycheva, O. Almabekova

First published: 2017https://doi.org/10.5593/SGEMSOCIAL2017/HB11/S03.066View metrics

Abstract

One of the greatest challenges at the current stage of Russian regions development is the transformation in the structure of production markets demand and supply. On the one hand, technological innovations caused by changing consumerВ’s needs affect the demand and supply equation parameters in the production and resource markets. On the other hand, imposing of international economic sanctions against Russia has stimulated shifts in both the demand for competitive domestic products and the supply of domestic goods and services in order to substitute the imports. Therefore, regional governments have to support new markets for innovative products as well as prospective markets for existing goods and services. In order to achieve these goals, it is important to develop the methodology of prospective goods markets determination. The first step is to evaluate the existing demand for import substitute products and currently existing production capacities in order to determine the promising sectors in the production sphere. The aim of the second step is to outline the products, which are crucial for the needs of regional enterprises. To forecast the future development of a region, it is necessary to estimate the volume of crucial demand for different product types, caused by imposing of economic sanctions against Russia and to establish a list of products, critical for the economic security of a region. The following research methods were applied 1) positioning and grouping of the products; 2) analysis of the structure depending on the origin of the imported goods. This paper offers a new method of positioning which allows justifying the choice of products critical for decreasing the influence of imported goods on the regional economy.

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Title
AN APPROACH TO IDENTIFYING PROSPECTIVE COMMODITY MARKETS IN THE REGIONS OF RUSSIA
Authors
I. Filimonenko, Z. Vasilyeva, O. Karpycheva, O. Almabekova
Proceedings
References: 4th International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM2017, www.sgemvienna.org, SGEM2017 Conference Proceedings, ISBN 978-619-7105-93-3 / ISSN 2367-5659, March 28-31, Book1, Vol.1, 529-536 pp, DOI:10.5593/SGE
Publisher
STEF92 Technology
Year
2017
Pages
529-536
SWS Citekey
Filimonenko20173529536
ISSN
2367-5659
ISBN
978-619-7105-93-3
Language
en
Publication type
Proceedings Paper
Keywords
regional economyimport substitutionneeds assessmentcritical demandpromising commodity market
ReferencesPending
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