THE IMPACT OF REGIONALISM ON REGIONAL DEVELOPMENT UNDER THE CONDITIONS OF A GLOBALIZED ECONOMY

The aim of this article is to explain the difference between regionalism and regional development concepts that are often used interchangeably, to investigate the fundamental aspects of two phenomena: regionalism in the sense of “new regionalism” and in the sense of “regional development” at the background of the globalized economy; to check a hypothesis that these two phenomena may be linked together and to study the impact of regionalism on regional integration. The article deepens the concept of “regional development.” At the same time, peculiarities of the current stage of the world economy development under the conditions of globalization are considered. The paper is theoretical (verbal) rather than statistical analysis of the nature, diversity and fundamental aspects of regionalism and regional development in general. The article deals with the impact of regionalism on the location of production, and the growth of competition and market expansion systematizes the main effects of regionalism on market expansion and the location of production.