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Industriev М. А. The theory of economic development: Evolution of approaches and modern paradigm. Izv. Saratov Univ., Economics. Management. Law, 2023, vol. 23, iss. 2, pp. 126-133. DOI: https://doi.org/10.18500/1994-2540-2023-23-2-126-133

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Heading: 
Economic
UDC: 
330.34
Language: 
Russian

The theory of economic development: Evolution of approaches and modern paradigm

Introduction. The relevance of scholarly justification of approaches to economic development is caused by the insufficient study of the economic development phenomenon, its nature and qualitative characteristics of the factors influencing the implementation of qualitative structural changes in the economy of the country. Theoretical analysis. The article summarizes the evolution of economic thought and historical transformation of attitudes concerning the study of economic development. Scientific approaches and studies of leading foreign and domestic scholars, which constituted the theoretical and methodological basis of the economic development theory, are consistently presented. The tendencies that served the modern theories of economic development formation are considered. Empirical analysis. Based on statistical data analysis the difference between the categories of «economic growth» and «economic development» is justified. The concept of economic complexity as a phenomenon that contributes to the qualitative transformation of the economic development factors is considered. The dynamics of the economic complexity index in the Russian Federation is analyzed. Results. The analysis of qualitative changes in the economic development factors in the modern mixed economy is conducted. The relevance of sustainable development theory and the concept of economic complexity application in the study of the economic development of states are demonstrated. The criteria of economic development in modern socio-economic conditions are formulated.

Author: 
Industriev
М.
А.
Company: 
Saratov State University
410028, Russia, Saratov, Astrakhanskaya str., 83
E-mail: 
maksind@yandex.ru
Key words: 
economic development
economic complexity
innovative development
sustainable development
DOI: 
https://doi.org/10.18500/1994-2540-2023-23-2-126-133
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Izv. Sarat. Univ. Economics. Management. Law, 2023, vol. 23, iss. 2