The Phenomenon of Multiculturalism in the Regional Strategizing
The Phenomenon of Multiculturalism in the Regional Strategizing

Summary/Abstract: The purpose of the article is to justify the possibility of the modernizing development of the region based on the rational use of the potential of a mixed economy of its territories. In contrast to the existing ideas about multiculturalism as a problem, demonstrating the structural imbalances in the economy of the region, the authors view it as a phenomenon that allows the region to provide a competitive advantage. The methodological base of this study is the convergence of the system, synergistic, institutional and endogenous approaches, and sharing a number of theories — growth poles, territorial industrial clusters, balanced development. The article shows the role of the institutional environment in realizing the potential of a diversified economy in the region. It formulates conceptual positions of the mechanism of regional strategizing aimed at the development of relations between territories with the different types of lifestyles. The basis of the interactions is the consensus of economic interests, compromise of competitive aspirations and market positions of the entities as equal partners. It is concluded that there is the need to change the existing system of regional strategizing in terms of strengthening its focus on the formation of the institutional channels for the communication of corporate, small-scale and farm structures. The recommendations on the potential of the mixed economy of the regions were used in the development of the Strategy of investment development for the Rostov region until 2020.

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