Features of assessment of regional business cycles: Methodical approaches and paradigm of the research

Abstract

© 2019, Dorma Journals. All rights reserved. Emerging trends in the development of socio-economic systems, characterized by a high level of dynamics of institutional transformations and corresponding macroeconomic generations based on progressive forms of creating added value, require improved approaches to the analysis methods of their development. If earlier the priority development areas were the processes of economy industrialization, the implementation of large-scale decisions, the high localization of economic processes, now the following strategic development guidelines come to the fore: formation and large-scale replication of local low-concentrated growth points; diversification of business activity; development and dissemination of technological, institutional, product changes; development of social parameters of economic growth, based, inter alia, on the principles of environmental friendliness of economic and operational activities, etc. All this creates the basis for improving the traditional approaches to modeling economic growth and development existing in the theory of regional economics. At a methodological level, the solution of issues posed is the subject of this article. The methods of formalized assessment and construction of economic cycles of both macro-and mesolevel are proposed through the prism of expectation theory in it. Relying on the proposed toolkit for designing advanced development cycles (3D expectations of economic agents), the study reveals approaches forming the basis for a comparative analysis of economic cycles of various levels and scales.