Assessment of the cluster formation potential in the regions of the Southern federal district

Cluster policy implementation is an important factor of economic development of a country as a whole as well as of a particular region. The clustering approach to regional development attaches high importance to the microeconomic sphere, as well as territorial and social aspects of economic development. Clusterization provides effective tools for stimulating socio-political and economic development of area, multiplying growth of employment and investment, accelerating advanced technologies transfer; wages increasing, budget revenues growing, and enhancing competitiveness of regional production systems. Analysis of the prerequisites, conditions and resources for the formation and development of innovation clusters becomes the foundation for the scientific justifying regional economy modernization strategy and creating its points of growth and innovative mode of developing. The analysis carried out on the basis of the author's methodology, and on subsequent grouping and ranking of 4 regions of the Southern Federal District, including the Volgograd region, by clustering processes intensity criterion, made it possible to shape a view of strengths and weaknesses of the regional economies, and give recommendations to improve the environment for innovative clusters forming and functioning. The carried-out analysis gave the chance to define regions with optimum conditions for introduction of cluster policy and regions with possibility of cluster development which are at lower level both on separate indicators, and on composite indexes of initial and resultant indicators.