New landmarks for the digital economy: on the relationship between economic complexity and material well-being

Abstract

The results are obtained that develop the instrumental basis of the digital economy and the methodology for choosing priority areas of diversification. Estimates of the economic complexity of 80 Russian regions and 82 sectors of the economy were obtained. It is shown that regions with developed sectors of the extractive industry have relatively low estimates of economic complexity. According to the data of 2019, the regions are divided into two groups with high and low estimates of economic complexity. For each group, a significant relationship between estimates of the economic complexity of the regions and indicators of per capita income was revealed. The increment of the average per capita income as a result of the increase in the economic complexity of the region is estimated. Information about the impact of economic complexity on well-being is one of the possible forms of digital support for strategic decision-making. It can be used to set priorities in the implementation of regional development projects aimed at increasing the number of jobs in the region and increasing material well-being.