International Journal of Econometrics and Financial Management
ISSN (Print): 2374-2011 ISSN (Online): 2374-2038 Website: http://www.sciepub.com/journal/ijefm Editor-in-chief: Tarek Sadraoui
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International Journal of Econometrics and Financial Management. 2014, 2(4), 124-129
DOI: 10.12691/ijefm-2-4-2
Open AccessResearch Article

Cluster Approach in Implementing the Socio-economic Development Strategy of the Region

Askerov N.S.1,

1Department of Political Economy, Dagestan State University, Makhachkala, Russian Federation

Pub. Date: August 25, 2014

Cite this paper:
Askerov N.S.. Cluster Approach in Implementing the Socio-economic Development Strategy of the Region. International Journal of Econometrics and Financial Management. 2014; 2(4):124-129. doi: 10.12691/ijefm-2-4-2

Abstract

The article describes the features of the cluster methodology and cluster systems. The Russian practice in implementation of the cluster approach and the experience on the use of the cluster approach in the implementation of socio-economic development strategy of the region. The study uses an example of the Republic of Dagestan (Russian Federation). The main focus is made on clusters “Caspian HUB” (transport-trade-logistics cluster) and “People’s House” (a unique cluster, aimed at stimulating the development of human capital) being nodal in the regions’ strategy. Aspects of the innovation potential of the region and the main directions of innovative activities of major enterprises of the industrial cluster of Republic of Dagestan (‘Aviaagregat’, ‘Hajiyev Plant’, ‘Research Institute ‘Sapphire’, ‘Dagfos’, etc.) are disclosed. Research results enabled to identify the main directions of the republic's economy required to stimulate clustering. The proposed initiatives are based on the improvement of mechanisms of state support for innovation at the regional level and on encouragement of the inflow of financial capital in the regional innovation system. The major objectives of the innovation potential of the Republic of Dagestan are defined.

Keywords:
cluster approach strategy region innovative potential innovative development stimulation of clustering

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