Strategic Ways to Modernize the Old Industrial Regions of Ukraine from the Perspective of Sustainable Development

The article defines the sustainable development of the old industrial regions of Ukraine (Slobozhanskiy, Prydniprovskiy, Donetsk Economic Area) using the methodology for determining the criteria and quantifying the processes and stages of their industrial, post-industrial and neo-industrial modernization. In the course of the study, a methodological toolkit was used to assess the level and conditions of industrial, post-industrial and neo-industrial modernization of the economy based on taking into account the quantitative parameters of the ecological, economic and social components of sustainable development. The results of assessing the stages of modernization of the regions of Ukraine in 2005-2019. confirmed the industrial development of Donetsk (Donetsk and Lugansk regions) and Prydniprovskiy (Dnipropetrovsk, Zaporizhzhia and Kirovograd regions) Economic Area. According to the results of the assessment of post-industrial modernization, the Slobozhanskiy Economic Area (Poltava, Sumy and Kharkiv regions) received the highest index. This region is the undisputed leader in terms of indicators reflecting innovation in knowledge and knowledge transfer (the difference is tens of points in comparison with the corresponding indices of other regions). Assessment of the stage of neo-industrial modernization showed the existence of a negative trend that has developed in all economic regions - a steady decrease in funding for innovations in knowledge. As a result, the overall index of knowledge indicator groups showed no signs of growth, and even decreased in some areas. The Slobozhanskiy Economic Area became an optimistic exception. The development and implementation of a methodology for assessing modernization processes will increase the efficiency of management decision-making by state authorities, improve the quality of strategies and targeted comprehensive programs for socio-economic development. To ensure post-industrial and neo-industrial modernization of the economy based on sustainable development in the conditions of insufficient efficiency and effectiveness of the traditional instruments of state policy, it is necessary to form institutions of regional development. Analyzed the current state of the presence of regional development institutions in the areas of activity. It was determined that the institutional structure is heterogeneous, the regions are different in the quality of labor and natural resources, which actually determines the specialization of the regional economy, therefore, for them it is necessary to use differentiated support measures from the development institutions.