Factor |
Features |
Environmental factors |
Institutional environment |
The capacity of a region to create an institutional environment that stimulates the activity of all economic actors, ensures sustained economic growth, produces internationally competitive goods and services, and improves the living standards of the population |
Market environment |
Institutional, economic and social situation of regional producers in domestic and external markets |
Competitive environment |
Ability of regional producers to sell their products, maximum ability to commercialize the region’s products |
Internal factors |
Adaptability |
The ability of regions to adapt to changing conditions in terms of retaining or improving positions among rival regions |
Productivity |
Productivity of regional resources |
Living standards |
The ability of regions to generate high income and employment while maintaining markets open to domestic and international competition |