Assessment of sustainable development factors of the old industrial region: the case of the Ural Federal Okrug

Ural State University of Economics, 8 Marta/Narodnoy Voli St., 62/45, 620144 Ekaterinburg, Russia

Abstract

The sustainability of the development of old industrial regions is under threat during the 4th industrial revolution. Social, institutional and innovative factors are becoming critical for development in addition to task of solving environmental problems. The article describes methods of assessment of sustainable development factors of the old industrial region. The old industrial regions of the Ural Federal Okrug became the field for approbation of method. Results of analysis showed the preservation of environmental threats and food security of Ural regions. The Sverdlovsk and Chelyabinsk regions demonstrated a high level of development of the industry and regulatory environment, and sufficient financial independence. Subsidized dependence, the decline of industry and bad regulation characterize the Kurgan region. Thus, a high quality of regulatory environment and level of development of social sphere, innovative orientation of the economy ensure the sustainable development of the Sverdlovsk and Chelyabinsk regions. Low parameters of sustainability factors for the Kurgan region keep it in the trap of socio-economic failure. The research confirms the hypothesis of a high correlation of factors and their influence on regional development. The conclusions have practical significance for regional authorities and development corporations.