Transformation of Regional Specialization Industries in the Conditions of New Technological Challenges

Abstract

The paper substantiates the significance of the problem of developing new branches of regional specialization. The mechanisms of transformation of regional specializations are investigated. The productive role of the concept of "smart specialization" for socio-economic and industrial development is noted. The empirical base of the study was Russia’s statistics for 2010-2018. The method of correlation and regression analysis identifies the influence of the way of using digital technologies on the development of traditional industries. The factors affecting the functioning of the industrial sector of Russia were identified. The current requirements and approaches to identifying the priorities of specialization of a region are given. As a result of the study, it was concluded that in order to transform traditional specialization industries and increase their competitiveness in modern conditions, their active interaction (integration and associated participation in production chains) with high-tech fast-growing industries is paramount. As expected, the introduction of new digital technologies will contribute to the growth of traditional industries, which will lead to an increase in their economic sustainability.