DOI:
10.31063/2073-6517/2019.16-4.12
For citation:
Andreeva, E. L., Ratner, A.V., & Tarasov, A. G. (2019). Typology of Institutional Factors Supporting the Foreign Economic Activity of a Region. Zhurnal ekonomicheskoj Teorii [Russian Journal of Economic Theory], 16(4), 758-769
Abstract:
This study sets out to investigate institutional factors supporting the foreign economic activity (FEA) of a region, in particular, to identify their nature and types with the purpose of making regional economic entities to be more informed and involved in the FEA of the region. A hypothesis was made about the diversity of these factors and their significant role in FEA. An analysis of publication in the sphere of institutional economics was carried out. The current state of the institutional support of regional FEA was examined. Institutional factors supporting the FEA of a region was identified, including the rules and mechanisms related to the promotion of FEA of regional enterprises. It is established that the institutional factor supporting FEA plays an organising role in relation to regional resources and determines their effective use. A typology of institutional factors supporting the FEA of a region was proposed based on a determinable «layer» of FEA activity. These factors define all levels of FEA activity through the conceptual-programmatic and regulatory framework for supporting FEA in a country or regions, determines the process of export-oriented production (production, technological and socio-economic order) and determines the process of foreign economic transactions (information and organisational, financial support instruments, national-specific accounting). In addition, a typology was proposed regarding the mechanisms (instruments) of FEA support (as a component of the institutional factor supporting foreign economic activity) based on the actors involved, as well as on their character: marketing, information, consulting, legal, financial, diplomatic, production and infrastructure, planning and personnel training support mechanisms. The results can be applied by structures supporting FEA, as well as for a more detailed assessment of the impact of the institutional factor on FEA in a region and ways of FEA promotion.