Imperatives of Financial and Economic Stability in Industrial Policy of a Region (On the Example of Rostov Region)

In modern conditions of high uncertainty and significant economic and geopolitical risks, effective government support is necessary for the industrial development of the region. Improvement of financial and economic stability of industrial enterprises is one of the signs of sustainability. The purpose of the article is to study the comprehensive package of support provided to industrial enterprises contained in strategic program documents for the development of regional industry in terms of their impact on the financial and economic stability of the business. The Rostov region is the object of research. The economic-geographical location of the region determines its agricultural and industrial specialization. Methods of comparative analysis as well as graphoanalytical methods are used in the research. The program strategic documents of the industrial development of the regions of Russia, as well as the information from government agencies and federal and regional statistics, were used as data sources. It was established that the adaptive management practices of industrial development in the region should be based on the principles of an incremental-iterative approach and include the imperatives of achievement of financial and economic stability. This research analyzes indicators that reflect the effectiveness of the implementation of regional projects that support economic growth in the Rostov region in terms of their impact on the financial and economic stability of industrial enterprises in the region. In addition, taking into account the agrarian and industrial specialization of the region, special emphasis was placed on the analysis of the package of support for this economic sector. Conclusions are also drawn about the high efficiency of the business package of support in the Rostov region realized by the government of this Russian constituent entity. This is reflected in their impact on the financial and economic stability of industrial enterprises. Recommendations on the development of the economic potential of the Rostov region are given concerning the necessity to take into consideration the level of technological maturity and the life cycle of the enterprise during the process of management solutions’ development.