Resilience of the economy of Russian regions to crisis shock: Industry approach

Abstract

Subject. The article addresses differentiation of Russian regions from the point of view of economic stability, problems of adaptation of the economy to changes in the external environment. Objectives. The study aims at developing an approach to assessing the factor of diversification of region's economy, formalizing the category of "regional economic stability", substantiating the relationship between diversification and resilience of Russian regions to external shocks. Methods. The study employs methods of economic and mathematical modeling, graphic and cartographic methods. Results. The paper established that the higher the Herfindahl- Hirschman index, which assesses the degree of diversification of the regional economy, the lower the regional economic stability. Conclusions. Diversification of regional economy is a factor that enables to increase the level of its stability.