Abstract
According to the theory of endogenous growth, technologies play a key role in economic development. Digital technologies, as innovations that create new innovations, change economic activity and create new opportunities for economic growth. Digitalization helps to reduce specific economic costs, changes the nature of work. It also causes the substitution of labor with capital. The study is devoted to characterizing the features of regional development and evaluate digital predictors of economic growth. We used a sample of data from 83 regions in the period 2009-2019, excluding from the sample years 2020 and 2021 because of changes in economic dynamics under the influence of pandemic shocks. Econometric estimates are obtained using least squares and a feasible generalized least squares method based on unidirectional panel data models. A statistically significant influence of the number of university students, innovation costs on the growth rate of gross regional product per capita was found. The impact of the number of granted patents and the number of Internet users of the organization on the regional development was not confirmed. The results of the study emphasize the necessity of state science and innovation policy to reduce technological inequality, strengthen macroeconomic stability, high level of qualifications and technologies. The direction of further research can be the creation of indicator system measuring the quality of political and economic institutions.
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