Bibliometric and Retrospective Analysis on Economic Behavior for Inclusive Growth

Abstract

The article provides a bibliometric analysis of existing publications on the market participants’ behavior(manufacturers, trading companies, and other intermediaries and consumers). The basis for the study is the Scopus database, which presents publications on this topic for over thirty years. The article aims to study the research directions on behavioral models of economic entities and the factors that influence their formation. Such analysis can be used to determine the place of behavioral economics in the system of modern views of economists on its impact on the further global development of the economic system. By selecting the most relevant articles on the economic behavior of market participants in the context of an inclusive economy, 1198 scientific articles were selected, published in periodicals from 1989 to 2021. The clustering and retrospective analysis were chosen as a methodological study tool, performed using VOSviewer 1.6.16 software. It made it possible to obtain a clear visualization of research clusters on economic entities’ behavioral aspects, including individual periods of the enormous publication activity from 2011 to 2021. In addition, the article identifies the largest regional research networks of behavioral models in an inclusive economy. Based on the analysis of the scientific publications from the Scopus database, three periods of research on the behavioral aspects of economic entities were identified. The study of the first stage focused on e-commerce development as a significant factor in market changes, accompanied by the transition of competition from local to global. The next phase of the economic behavior study was accompanied by the sustainable development concept and changes in consumer values, which influenced the choice of suppliers and service providers and the growing importance of decision criteria that previously could not be considered purely economic. Considerable attention in this period of publishing activity was paid to social responsibility and sustainable consumption. The last research defined in the article stages is aimed at using modern research methods and information technologies for a deeper analysis of the subject area. It makes it possible to identify relevant factors influencing the formation of economic entities’ behavior patterns, which could not be determined before.