Paradigm of regional development in the context of globalization

The article presents the results of a study conducted to identify the main directions of adaptation of the regional development paradigm to globalization. The research methodology is based on the system analysis approach. The study shows that globalization leads to the emergence of new factors and opportunities that can have a significant impact on the development of countries and in-country regions. Consequently, the success of regional development policy in the modern era largely depends on the full and effective use of national and international factors and opportunities in a coordinated manner. It is substantiated that the improvement of the in-country division of labor taking into account the comparative advantages of the regions and the optimization of the “world-country-region” relations in terms of their contribution to sustainable and inclusive development can serve as priority directions for regional development policy in the context of globalization. In the end, based on the results of the study, conceptual recommendations are given on adapting the regional development policy and its planning system to the conditions of globalization in the Republic of Azerbaijan.