Transformation in understanding regional economy

Introduction. At the beginning of the XXI century, the trend towards globalization used to be seen as a no-other-alternative choice, while modern trends in global development reflect the increasing inconsistency and fragmentation of the development of regional economies. This context calls for studies which examine the transformation of the regional economy’s objects and concerns. Purpose. This article focuses on a comprehensive analysis of the works by the Russian and foreign researchers to reveal the transformation of approaches to the study of the regional economy and its modern problems. Materials and Methods. The study refers to the methods of analysis and synthesis of scientific information to examine scientific papers published in 1976–2025 on the eLibrary and Dimensions platforms. Results. The authors describe the transformation in understanding the regional economy from a geographical territory to an ecosystem. The study revealed a shift in emphasis in the approaches to the regional economy: from looking for the optimal structure of the regional economy to the problems of developing innovative ecosystems. Modern studies are concerned with the introduction and development of new economic activities, agglomeration economy, etc. Unlike foreign studies, the Russian scientific papers in the public domain pay little attention to “green economy”. Foreign studies emphasize the goals of sustainable development and urban agglomerations' problems. Digitalization of the regional economy, urban agglomeration, green innovations, and spatial spillover effect are shown to be important. Conclusions. The presented analysis demonstrates the diversity of aspects in regional economic research. Therefore, the results of the study can be in demand by all researchers interested in modern problems of the regional economy.