3. Valeriy A. Kryukov

Impact of the Diversity Factor on Development Policy Formation in the Natural Resource Sector and Regional Economy

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Valeriy A. Kryukov

Director of the Institute of Economics and Industrial Engineering- Siberian Branch of RAS, Doctor of Economics, Professor, Member of RAS

Akademika Lavrent’eva Ave 17, Novosibirsk, Russian Federation, 630090

This study examines approaches to finding combinations of skills and knowledge that would make it possible to meet the challenges of the increasingly diverse modern economy.
Aim and Tasks. This study aims to show that the Soviet development model for the mineral resource sector was largely based on the typification and unification of approaches to project implementation, making it easier to control the process from a single center. Since then, the conditions have changed. With no readily available oil or giant new mineral deposits waiting to be developed, diversification plays an increasingly important role. Attempts to pursue the former model and experience have led the economy to face temporary difficulties. Overcoming these challenges will require an increase in the scale of geological exploration to uncover giant new deposits; developing new technologies (within the confines of specialized territories aided by the government and spearheaded by major companies); and expanding preferential advantages and benefits when dealing with heavy, non-conventional, and increasingly costly hydrocarbons.
Methods. This study uses general scientific methods of cognition — such as analysis and synthesis, the institutional theory, comparative and statistical analysis, and systematization—to demonstrate the specifics of integrating resource regions into the new economic environment. These methods also highlight the need for a smooth transition from a centralized technological system oriented to a decentralized system that would be better suited for current market conditions.
Results. Objective, materialized knowledge is not only a value in itself; its availability to those who have the necessary knowledge and skills to take on the colossal risks of developing a small oil and gas deposit is equally important. Only a person with widely varied knowledge and considerable practical experience is capable of taking on such a project. It is necessary to establish conditions that encourage the implementation of such projects, including creating an adequate taxation system and ensuring the availability of financial resources.
Conclusions. Modern challenges require new solutions. Russia is still searching for such solutions as radical economic reforms have yielded little in terms of creating the conditions and prerequisites for future development. The illusion persists that problems can be solved by simply introducing new laws and regulations; it takes a long time for changes in the economic environment to reach critical mass (the number of participants, accumulated knowledge, tried and tested forms of cooperation, and ways of solving problems) on which the efficiency of norms and regulations is hinged. Instead of moving forward, the Russian oil and gas sector has been moving along the well-trodden path back to the past.

Keywords:resource regions, institutional system, socioeconomic return, innovation, sustainable development


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