Integrating Sustainable Development into a Regional Competitiveness Model: Economic Resilience, Social Inclusion, Environmental Performance, and Institutional Quality
Abstract
This study examines how sustainable development principles can be integrated into models of regional competitiveness. It asks whether regional competitiveness is statistically associated with performance on sustainable development indicators, how this relationship can be conceptualized and examined through correlation analysis, and which environmental, social, and governance (ESG) dimensions are most closely associated with regional competitive advantages.
The study reviews the literature on regional competitiveness and sustainable development and compares and synthesizes theoretical and empirical evidence. The empirical analysis draws on the 2024 AV RCI competitiveness index for Russian regions and the ECG-region rating to examine associations between regional competitiveness and sustainability performance.
The analysis suggests that incorporating ESG factors into regional development strategies can help regions build competitive advantages, support economic growth, and strengthen long-term stability. The study highlights the importance of balancing economic efficiency, social equity, and environmental responsibility in regional development and underscores the need for measurable indicators to assess how sustainability practices contribute to regions’ competitive positions.
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References
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