Drivers of socio-economic development in the Republic of Adygea

Abstract

The article substantiates the critical role that internal factors conditioned byproduction,resource, natural, and sectoral features play in ensuring the sustainable development of regional economic systems and improving their competitiveness (on the example of the Republic of Adygea).These factors include the growth of entrepreneurial activity,the development of reproduction processes in their economic space,and the realization of the potential of the ethno-economy.Numerous strategies and actions have been suggested to enhance and attain sustainable development in this region of Russia, including the identification of the main drivers of the Republicof Adygea’s socio-economic development and an analysis of the factors that have the highest impact on that development.The study’s main findings include an analysis of the current socio-economic situation in the Republic of Adygea,which allowed us to identify the region’s key points of economicgrowth under current conditions.Intraregional factors resulting from production,resource,natural, and sectoral features have been found to playan increasinglysignificant role in maintaining the socio-economic stability of modern Russian regions, particularly in light of crisisogenic factors and their limited budgetary capacity.