Authors : Elena I. Makrinova, Viktoriya V. Lysenko, Natalia L. Avilova, Gennady N. Strukov, Victoria V. Grigoryeva and Alexander A. Smirnykh
Abstract: The Russian Federation service industry (based on Belgorod Region as an example) and its development principles, factors and issues are considered. The position of service market in economic system is explained. The researcher’s vision of the "market services" and "market infrastructure" concepts and stepwise service market development are presented. The researchers highlighted current trends of the Russian Federation service market development: emergence of new types of services; separation of certain types of services in the sub-types; creation of several integrated services; emergence of organizations involved in designing certain types of services; infrastructure modernization. Factors impeding the development of trade in services, principles of service development in the regional market infrastructure and competitiveness indicators of the regional service market are clarified. The model of regional market infrastructure performance and organizational model of governance body interaction to promote regional service market development are designed. The study undertaken has proven that efficient use of the service market governance organizational and economic mechanism tools has a positive effect on regional economic situation.
Elena I. Makrinova, Viktoriya V. Lysenko, Natalia L. Avilova, Gennady N. Strukov, Victoria V. Grigoryeva and Alexander A. Smirnykh, 2017. Service Industry in the Modern Model of Market Infrastructure Performance: Development Principles, Factors and Issues. International Business Management, 11: 1405-1411.