Median Approach To Modeling Regional Industry Cycles: Sustainable And Balanced Development
Journal: The European Proceedings of Social & Behavioural Sciences
Year: 2021

Sustainable and balanced economic development is the most important task for any country. Up until now, modeling of regional industry cycles has been mainly neglected in research of sustainable and balanced regional development. Modeling of industry development was executed "from above", i.e. based on country-wide data. In this paper, we propose a median approach to modeling, i.e. complex modeling "from below". The authors proceed from the evolutionary economics prerequisite regarding the overri