The resource potential of the agro-industrial complex of the north-caucasian federal district as a factor of innovative development of the macro-region

Abstract

Purpose: Innovative development of the region is largely determined by the available resources and the ability of the economic system to reproduce them. The article deals with the problem of increasing the efficiency of the use of the resource potential of the North-Caucasian Federal District (NCFD). Design/Methodology/Approach: The elements of the structure of the resource potential of the agro-region, including natural, material, technical, labor and innovation component are revealed. An important factor in the sustainable socio-economic development of the North-Caucasian Federal District (NCFD) is the production of high-quality products of the agro-industrial complex based on maximum use of local raw materials and own resources. Findings: To modernize the agricultural regional economy, it is necessary to base agro-industrial production mainly on innovative activities that allow the creation of a single production space. Practical implications: The results of the study can be used in the target complex programs of development of regional economy with the aim of strengthening and enhancing the effectiveness of regional institutional and industrial transformations. Originality/Value: The resource potential is proposed to be determined in the context of the availability and limitations of regional production conditions.