Assessment of the sustainability of economic development of regions of the Southern Federal District

Abstract

Article is devoted to a comprehensive study of theoretical and practical aspects of sustainable development in the regions of the Southern Federal District. The research objective is to systematize theoretical approaches to sustainable regional development and assess economic development sustainability in the regions, considering contemporary trends. The methodological approach used in the research is based on the analysis of regional economy as a complex open system using index, dynamic, and multicriteria evaluation models. The study is based on statistical data for 2022–2024 and includes calculation of integral sustainability indicators across economic, social, and environmental parameters. The results obtained during the research revealed significant differentiation among the Southern Federal District regions in terms of the integral sustainability development indicator, where Krasnodar Territory and Rostov Region occupy leading positions due to their diversified economy and developed infrastructure. It was established that the main factors ensuring sustainability at the regional level are economic diversification, infrastructure development, and human capital quality. The originality of the research lies in conducting a comprehensive assessment of regional development sustainability that considers the specifics of Russian regions under the conditions of geopolitical and economic challenges of 2022–2024. The main directions for ensuring sustainable development of the Southern Federal District regions are proposed, including economic diversification, formation of an innovation ecosystem, improvement of population quality of life, and environmental modernization.