ADAPTATION OF CLASSICAL THEORIES OF ECONOMIC DEVELOPMENT TO THE FORMULATION OF REGIONAL ECONOMIC GROWTH STRATEGIES

Abstract

The article examines the adaptation of classical theories of economic development to the formation of contemporary regional economic growth strategies under conditions of structural transformation, decentralization, European integration, military challenges, and increasing requirements for territorial resilience. The relevance of the study is determined by the need to improve strategic management approaches that enable regions to respond effectively to economic uncertainty while ensuring sustainable long-term development. The purpose of the research is to identify the conceptual foundations for adapting classical theories of regional development to current strategic planning practices and to substantiate their practical application in regional governance. The methodological framework is based on a combination of general scientific and special research methods, including historical and logical analysis, systemic and comparative approaches, analytical generalization, and strategic analysis. The selected methods made it possible to trace the evolution of theoretical concepts of regional development, identify their transformation under modern socio-economic conditions, and assess their applicability to the design of regional development strategies. The findings demonstrate that the theoretical foundations established by classical concepts of spatial organization, production location, agglomeration, and resource concentration remain relevant despite significant changes in the economic environment. At the same time, their practical implementation requires adaptation to contemporary challenges associated with digital transformation, decentralization, innovation-driven growth, environmental sustainability, and institutional modernization. The study confirms that effective regional development can no longer rely solely on traditional factors of production. Instead, sustainable economic growth depends on the integration of innovation capacity, institutional cooperation, strategic planning, digital governance instruments, and endogenous regional potential. Particular attention is devoted to the evolution of regional development models from traditional location theories toward integrated approaches emphasizing smart specialization, knowledge diffusion, human capital development, intermunicipal cooperation, and strategic forecasting. The research demonstrates that modern regional strategies combine mechanisms of resource concentration with policies aimed at strengthening local competitive advantages, improving institutional quality, expanding investment opportunities, and increasing the adaptability of territorial socio-economic systems. Strategic planning is presented as a comprehensive management instrument capable of coordinating economic, social, environmental, and institutional priorities within a unified regional development framework. The analysis also confirms that regional strategic documents effectively translate theoretical principles into practical management mechanisms by incorporating measurable objectives, monitoring systems, performance indicators, project-based implementation tools, and coordinated stakeholder participation. The integration of digital technologies into planning, monitoring, and decision-making significantly improves the responsiveness of regional governance to external changes and supports evidence-based policy development. Furthermore, strengthening cooperation among public authorities, businesses, research institutions, and local communities contributes to the creation of an institutional environment that enhances regional competitiveness and long-term economic resilience. The practical significance of the study lies in substantiating approaches that may be applied by public authorities, regional administrations, and local self-government bodies when developing or updating regional development strategies. The proposed conceptual provisions may contribute to improving strategic planning methodologies, increasing the effectiveness of regional policy implementation, strengthening economic resilience, supporting sustainable territorial development, and enhancing the competitiveness of regions under conditions of continuous socio-economic transformation.