MODERN ECONOMIC GROWTH - CONDITIONS AND FACTORS OF DEVELOPMENT
MODERN ECONOMIC GROWTH - CONDITIONS AND FACTORS OF DEVELOPMENT

Summary/Abstract: The focus of this paper is on economic growth and the conditions that influence its importance for the regional economy. We define its framework, philosophy and possibilities to influence the development processes of individual territories. Also important are the conditions and growth factors, which are discussed separately. Endogenous and exogenous factors of territorial and spatial development are given a special place in the exposition. The concepts and features of spatial and territorial development are discussed in terms of the functioning of the national economy and the measurement of growth. Special attention is paid to the factors and conditions that, in theoretical order, form the model of regional economic growth. Comparative analysis of processes and phenomena that bring out the specifics and peculiarities of regional economic growth and its significance for regional development is made. In conclusion, relevant conclusions and recommendations are made regarding the importance of regional economic growth for the development of regions and national spaces.

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