Regional Economic System Research Articles

Innovations as a driver for the development of the region’s investment attractiveness: incentive tools and methods

The article considers innovations that are the flagship of the development of investment potential of Russian regions and regional economic systems as the main element of investment attractiveness of the regions. The conducted research examines the basic tools and methods for the formation of an effective assessment system for innovative regional development as the level of the investment attractiveness of Russian subjects and Russian regional systems within the framework of Russian and foreign practice and experience. Definition and evaluation of such an indicator as the level of development of the digital environment of business communications, stimulating the effectiveness of innovative activities of business entities, have been identified as the main approaches (or methods) in studying this problem. The conducted research has a significant impact on the further study of directions for the development of a mechanism for effective assessment of the innovative potential and innovative development of the region, which serves as the basis for increasing the investment attractiveness of the Russian regions. The application and use of various assessments, diagnostics and their implementation in considering the innovative potential and innovative development of the region are to analyse the prospects for its formation. The obtained results of the research can be used in assessing these two phenomena to increase the investment attractiveness of the Russian regions.

Approaches to assessing the socio-economic effects of the implementation of strategic priorities in regional economic systems: The Yamalo-Nenets Autonomous Okrug case

Subject. The article deals with a review and formation of approaches to the assessment of strategic priorities of resource-oriented regions. Objectives. The study aims at preparation of systems approaches to the assessment of strategic priorities of resource-oriented regions and regional economic systems in general, for further implementation in the adapted model of interperiod choice. Methods. The study rests on the theory of strategy and methodology of strategizing by V.L. Kvint, a foreign member of the Russian Academy of Sciences, and employs econometric, statistical, and cognitive methods. Results. I presented an overview of existing approaches to assessing strategic priorities, formulated proposals for formalizing and systematizing the priority assessment system based on specific and inclusive approaches. The paper shows how the results of this analysis can be implemented in the model of interperiod choice. Conclusions. The findings can be used by public authorities when devising strategies for socio-economic development, while theoretical insights can be adapted for use not only in regional economic systems, but also in the analysis of strategic development of other systems.

The potential benefits of regionally differentiated Covid-19 policies

Abstract While many countries introduced regionally differentiated policy measures for Covid-19, such as social distancing, lockdowns and working from home, the Netherlands opted for national binding policies already in the early stages of the pandemic. Using detailed data on the impacts of the first lockdown on consumers’ and producers’ behaviour, as well as scenarios varying on intensities of measures, we show that regional differentiated policies could have mitigated a significant part of the losses in production resulting from the Covid-19 measures. The self-organizing capacities of the regional economic system fuel this mitigation, with regional variation in policies being a sufficient precondition. Coordinated and explicitly planned policies aimed at supporting specific region-industry clusters may further mitigate impacts but are difficult to achieve due to the number (wickedness) of possible policy options. It would also assume full information and coordination capacities in governance that are not present. The results of our analysis hold important implications for future mitigation strategies for pandemics or other regional shocks.

Research on the Coupled and Coordinated Development of Tourism Informatization and Regional Tourism Economy in Jilin Province

This study is focused on developing an integrated coordination model designed to conduct an empirical assessment of the evaluation metrics and their respective weights concerning the tourism sector and regional economic growth in Jilin Province. By analyzing the level of coupling and coordination between these two domains, the findings indicate that, although the coordination level currently falls within the expected range, it remains suboptimal. This is primarily due to the relatively modest comprehensive evaluation scores of both the tourism informatization framework and the regional tourism economic system. To improve the level of coordination, this paper suggests several strategic measures. These include enhancing investments in information technology infrastructure and fostering the development of specialized talent. Such measures aim to effectively advance the synchronized development of the tourism sector and regional economic progress in Jilin Province.

Structural imbalance and integrated economic development of RCEP countries on perspective of industrial network

In the decade of the RCEP negotiations, structural changes and imbalance have occurred in the regional economic system. For this problem, the paper analyzed structural imbalance and its impacts on integrated economic development of the RCEP countries and India from perspective of industrial network. We designed structural indicators describing imbalance of industrial system and impact of imbalance on integrated development. Empirical analysis was based on the world input-output data for 2010, 2015 and 2019. It can be found that economic imbalance reflected in China's dominant role, structural deviation, weak and excessive stability, hierarchy. So RCEP region is integrated relying on three heterogeneous economic blocks, including the power center, affiliated members, and sub centers and their partners, which produce centripetal integration, segmentation and decentralization effects. This imbalance is a double-edged sword for regional integration, and the adaptability and flexibility of the structure are key. Further, some implications were given for promoting strategic economic path of related countries and improving the RCEP protocol.

Analysis of factors determining the development of human capital in the context of digitalization of regional economic systems

Subject. This article discusses the issues of formation of the information society and digital literacy improving. Objectives. The article aims to assess the impact of digital tools on the formation of human capital. Methods. For the study, we used the mathematical research methods. Results. The article presents the author-developed methodology for assessing the Consumer Behavior subsystem, that is a subsystem of the regional economic system. The proposed methodology involves the assessment of digitalization processes in conjunction with socio-economic indicators. The article identifies factors that determine the development of human capital in the new economic conditions. Relevance. The results of the study can be used to develop plans for a regional digital economic system creation.

Analysis of formation and balanced development of regional economic systems

Analysis of formation and balanced development of regional economic systems

Preferential territories in the spatial development of regional economic systems

Preferential territories in the spatial development of regional economic systems

EXPRESS ASSESSMENT OF ECOLOGICAL AND ECONOMIC SECURITY OF THE REGION AS A TOOL FOR OPERATIONAL FORECASTING OF THE QUALITY OF LIFE OF THE POPULATION

The issue of improving the quality of life of the population of Russian regions is relevant for a number of reasons: the need to achieve a decent standard of living of the population, comparable to the level of developed countries and leading regions of the Russian Federation; taking into account the peculiarities of regional development; objective restrictions in people’s lives caused by crisis development factors, including epidemic waves, sanctions pressure from unfriendly countries, etc. For operational management influence, a tool is needed that would ensure constant monitoring of the quality of life of the population, the level and dynamics of its changes. However, today, existing methods for assessing the quality of life are a labor-­intensive and time-consuming scientific task with a large number of indicators. The purpose of this study is to substantiate environmental and economic security as a predictor of the quality of life of the population of the region and to develop an express method for assessing the level of its provision. In the work, the authors used such methods as analysis and synthesis of scientific information, an index method for assessing the key components of the environmental and economic security of the region based on subindices. The results of the study substantiate the essence of the ecological and economic security of the region as a predictor of the quality of life of the population, which is the ability of the regional ecological and economic system to maintain its current state and the possibility of development under the influence of external or internal influences, including man-made ones, and also to function without changing its own structure and be in balance to ensure the normal functioning of the population of the region. Based on the index method for assessing the key components of the region’s environmental and economic security, the values for three subindices (sustainability, stability and technogenicity) were determined, as well as the integral index of environmental and economic security of the regions of the Ural Federal District, which were divided into two groups for correct comparison, from 2017 to 2021, the leading regions were identified (Yamalo-­Nenets Autonomous Okrug, II (2021) = 0.743; Kurgan region, II (2021) = 0.508) and outsider regions (Khanty-­Mansiysk Autonomous Okrug — ​Yugra, II (2021) = 0.475; Sverdlovsk Region, II (2021) = 0.391).

Factor analysis of innovative activity of the regional economic system

Relevance. Innovation activity is one of the fundamental indicators of the effectiveness of innovation activity in the region. In the context of external challenges and economic instability, innovation is a fundamental vector of development of the domestic economy. However, the effectiveness of innovation activity is currently reduced due to the influence of risk factors of various etiologies. Therefore, the assessment of the factors influencing the innovative activity of the region determines the relevance and significance of the study.The purpose is to determine the influence of factors on the innovative activity of the region and its subjects, taking into account the ranking according to the degree of impact and the possibility of a restraining influence on the innovative potential of the region.Objectives. The following tasks were set and consistently solved in the study: to conduct a theoretical review of the concept of "innovative activity"; to identify factors; to classify and identify the degree of influence on the innovative activity of the region.Methodology. The paper uses a theoretical review of domestic and foreign authors dealing with the issues of factorial influence on the innovative activity of the region and its subjects. During the research, special methods were used: regression analysis, statistical analysis, expert approach, etc.Results. Based on the factor analysis, factors were identified, grouped, classified, and the degree of influence on the innovative activity of the region was determined, which helped to identify the cause of problems in the region (using the example of the Vladimir region).Conclusions. During the study, it was concluded that factor analysis allows us to examine the current state of innovation activity in the region and find the causes that have the greatest destructive effect on the indicator of innovation activity.

Impact of transport and logistics services on transformation of regional economic system

Transformational changes arise as a result of the impact of internal and external factors on the socio-economic system of the region. In the current economic conditions, transport and logistics services have an impact on the movement of resources and human capital and contribute to the intensification of production and market processes in the subjects of the country.

Revisiting the nexus between financialization and natural Resource efficiency through the lens of financial development and green industrial optimization

Responsible natural resource management has become critical for ensuring the effective use of resources jeopardizing future generations' needs. Financialization based on artificial intelligence, green finance, and lower economic risks are important in this respect. The objective of this study is to explore the impact of financialization and economic uncertainty on the natural resource market. The analysis covers the period from 1980 to 2021 and is performed for selected South Asian Association for Regional Cooperation (SAARC) countries. In addition, among economic financialization processes, artificial intelligence (AI) based financial management (FM) is more significant than domestic financialization strategies. For that purpose, Artificial Neural Network (ANN) method and pooled regression analysis are employed for the empirical analysis. According to the findings, economic uncertainty has a stronger influence than economic financialization. Therefore, risk mitigation plays a larger role in creating shocks in all macroeconomic indicators and, as a result, on the natural resource market. The accuracy measures to support the finding's robustness like the value of R2 is highly acceptable and errors are minimum (% MAPE is 5.06 which falls under the criteria of high accuracy) in both testing and training datasets approximately by 50%. In addition, the findings of Garson method reveal that economic uncertainty and AI based FM are significantly important for the natural resource market as their important values (0.27, 0.26, and 0.20) touch the maximum importance statistics (0.30). The study, therefore, suggests that authorities in South Asian countries should focus on AI-based financial advancement and integrate AI into the traditional financialization methods to upgrade the regional economic financial system, which will help in regulating and improving the efficiency of the resource market. The results also provide the graphical and tabulation formation of financialization and economic uncertainty in SAARC countries. Additionally, analysis on the chosen variable by suing PCA has also been made to transform the dataset. Along with it, the regional corporation is crucial for dwindling economic uncertainty and promoting a steady growth and sustainable environment through the maintenance of the natural resource market.

Актуализация подходов к определению устойчивости и сбалансированности развития экономической системы региона

The article reveals a theoretical approach to the determination of the stability and balance of the development of regional economic systems, considering the specified classification of factors influencing these processes, examines various approaches to the determination of the stability and balance of the economic system development of the region, and discusses the importance of these approaches, each of which contributes to the determination of the stability and balance of the economic system development of the region. The author presents the interpretation of the regional economic system as a mesoeconomical system and an integrity formed by industrial relations between economic agents regarding the production, distribution, and consumption of public goods within the spatial and territorial boundaries of the region. Production relations are dynamic and changeable because of the influence of common factors caused by the action of basic economic laws, which are typical of economic systems of any scale. A group of special factors that have a dominant effect on the dynamics of industrial relations in modern conditions is suggested, i.e., natural-geographical, ethno-confessional, socio-economic, and socio-cultural ones. These factors determine the stability and balance of economic systems’ development in the regions in the national economic division of labor. The results obtained determine the author’s theoretical and methodological approach to determining the stability and balance of the development of economic systems in certain regions of the Russian Federation, such as the Kaliningrad Region, the Republic of Crimea, Sevastopol, Kamchatka, Sakhalin, Murmansk Region, the Republics of Kalmykia, Buryatia, Tyva, and Altai, taking into account the specific factors of the prevailing realities and challenges of the future. The results also provide a better understanding of the problem areas and the potential for subsequent planning and development of policies and activities in order to stimulate sustainable and balanced development of the economic system of the region.

ПЕРСПЕКТИВИ РЕАЛІЗАЦІЇ КОНЦЕПЦІЇ КОРПОРАТИВНОЇ СОЦІАЛЬНОЇ ВІДПОВІДАЛЬНОСТІ БІЗНЕСУ УКРАЇНИ В УМОВАХ ВОЄННОГО СТАНУ

The digital economy is proposed to be understood as: a type of economy characterized by the active implementation and practical use of digital technologies for the collection, storage, processing, transformation and transmission of information in all spheres of human activity; a complex system of socio-economic and organizational-technical relations based on the use of digital information and telecommunication technologies; a complex organizational and technical system in the form of a set of various elements (technical, infrastructural, organizational, programmatic, regulatory, legislative, etc.) with distributed interaction and mutual use by economic agents for the exchange of knowledge in conditions of permanent development. It was determined that modern processes of informatization and digitization call for the transformation of the traditional system of relationships in society at all levels of economic management, affecting all spheres - from production to finance. More and more relationships between counterparties take place in a virtual environment, the arrays of information that are needed to make appropriate management decisions are increasing, which involves the use of modern end-to-end digital technologies. The digital transformation of the economic system of domestic regions is associated with a number of problems, which we present in the form of destabilizing factors that can cause threats to economic security and lead to a violation of the stability of the region's economic security system. It has been established that the process of managing destabilizing factors in the conditions of systematization of digital development challenges is a series of interconnected stages that follow from each other: monitoring of factors affecting the process of digital transformation of regional economic systems based on methods of analyzing the external and internal environment; establishing a relationship between the challenges of digital transformation of the regional economy, regional development priorities and economic security of the region; assessment of the probability of the occurrence of risk events and their consequences from the standpoint of the dynamics of indicators characterizing the level of economic security of the region; determining the possibility of eliminating the influence of destabilizing factors and determining the necessary amount of financial resources in value terms; drawing up a map of preventive measures in the field of reducing the consequences of digital development threats and increasing the level of economic security of the region; adjustment of the map of preventive measures due to the occurrence of unforeseen destabilizing factors and macroeconomic shocks. Keywords: destabilizing factors, economic security, economic systems, region, digital transformation

Coupling Coordination Analysis of Green Tourism - Regional Economy - Regional Logistics

By using the panel data of 30 provinces and cities in China from 2011 to 2021, the entropy weight method, coupled coordination model and obstacle degree model are used to construct the coupled coordination index system of green tourism, regional economy and regional logistics, and explore the spatio-temporal evolution, coupled coordination evolution characteristics and impact factors of different regions. The results showed that: (1) Green tourism and regional economic system showed an overall upward trend, while regional logistics system showed a trend of first increase and then decrease. (2) The coupling coordination degree showed an upward trend, from moderate imbalance to mild imbalance, but the overall coupling coordination degree in the country was not high enough. (3) Total investment of foreign-invested enterprises, express delivery volume, total import and export volume of business units, and total postal business are the main obstacle factors. They are the main obstacle factors of economic development module, regional logistics scale module, economic development scale and logistics infrastructure module respectively.

Theoretical study of regional potential, its essence and components

The complex of all types of resources, capabilities and characteristics that are inherent in a particular geographical area or region is a regional potential. It covers various aspects that can affect the development and well-being of a given territorial entity in economic, social and environmental terms. It is possible to achieve effective use of the region's potential only by carrying out scientifically based actions to modify regional economic systems. The article identifies approaches to the concept of the term "regional potential" and gives the author's interpretation, considers the components of regional potential, reveals the role of regional potential in ensuring the conditions for the stability of regional economic systems.

The Weberian ideal type in political economy: obsolete match or fruitful encounter?

ABSTRACT This article highlights the analytical contribution of the Weberian ideal type to the field of political economy. Major strands of political economy have continued to integrate ideal type thinking to understand better the dynamics of national, regional and global economic systems. While there is an unbroken popularity of this methodological tool in the social sciences, we argue that it shows particular strengths and weaknesses in the interface between comparative and international political economy. To make this point, we first analyse the aims of the Weberian ideal type and investigate how it has been applied in the Varieties of Capitalism approach (VoC), dominant in much of comparative political economy (CPE). We then explore standard criticisms especially in the extension and reformulation of this approach to include the reasoning of international political economy (IPE). Main patterns of ideal type construction are identified to capture the CPE/IPE interaction and to point to some of the standard pitfalls when using the Weberian device. To maintain its strong position in the toolbox of political economy researchers need to take its heuristic purpose more seriously and be aware of its limitations.

Unlocking Economic Resilience: A New Methodological Approach and Empirical Examination under Digital Transformation

Economic resilience is crucial for urban sustainability as it ensures stability and growth in the face of external shocks, promotes social cohesion and inclusivity, fosters environmental sustainability, and enhances cities’ adaptability to future challenges. This study expands the conventional perspective on economic resilience beyond the context of shocks, focusing on the inherent resilience of regional economic systems. A novel method for quantifying economic resilience is introduced, emphasizing system sensitivity and adaptability. Using Chinese prefecture-level city data and an econometric model, we empirically examine how Fintech, a major digital transition in current urban systems, affects economic resilience. The findings reveal that Fintech has a substantial positive effect on economic resilience, primarily through the upgrading of industrial structures and technological innovation. Furthermore, there is significant regional heterogeneity in the impact of Fintech on economic resilience, with more pronounced contributions in the east, central, and western regions of China, as opposed to the northeast. Additionally, the impact of Fintech on economic resilience is more substantial in large-scale cities. The promotion of economic resilience through digital transformation serves as a potent risk prevention measure. Understanding the role of economic resilience in urban systems holds valuable implications for countries worldwide.

Between export-led growth and administrative Keynesianism: Italy’s two-tiered growth regime

ABSTRACT Comparative political economy scholarship struggles to categorise Italy’s model of capitalism between a mixed-market economy and a hybrid, stagnant economic system. To enhance our understanding of the Italian political economy, this article employs the analytical framework of growth regimes to study Italy’s regional economic systems. Our analysis indicates that Italy can hardly be defined as a ‘national growth regime’ due to the presence of two diametrically opposed regional growth regimes: Northern regions conform to a manufacturing-based, export-led growth regime supported by competitiveness-enhancing territorial institutions; southern regions conform to a particular variety of the consumption-led growth regime, that is, an administrative Keynesianism regime, which we theorise to typify a regime where growth and employment are systematically dependent on the state’s role of employer of last resort, the state’s consumption-enhancing social policies and economic forbearance of labour and corporate tax regulations. The article suggests that studying regional growth regimes is desirable when marked internal diversity in economic outcomes or productive structures exists across regions within (generally larger) countries, and when subnational governments have powers to develop major own institutions/policies in support of regional growth regimes.

Innovation Ecosystem as a Factor in Sustainable Development of the Regional Economy

Relevance. The innovation ecosystem is currently the vector for the development of innovation activity in the regional economic system. In the context of the emergence of destabilizing external factors and economic instability in the state, innovative activity acquires a key role associated with the formation of economic stability at the macro, meso and micro levels, helping to counter external threats and challenges. It has a particular influence on the development of the regional economic system, ensuring the growth of the level of enterprises and economic sectors through the production of high-tech products. Thus, stimulating the growth of competitiveness, both at the level of enterprises and the region as a whole. The innovation ecosystem is a condition for achieving the effectiveness of innovation, thanks to the process management system in the innovation cycle, from the generation and production of an innovative product, to its implementation and promotion, thereby expressing the relevance and practical significance of this phenomenon in conditions of economic instability. The purpose of the study was to determine the functional characteristics and influence of the innovation ecosystem on the processes of innovation in the region, as a necessary condition for the integration of elements of the Concept of Sustainable Development.Objectives. The study set and consistently solved the following objectives: conduct a theoretical review of the concept of “innovation ecosystem” and study approaches to its theoretical understanding; identify its structural units and relationships between its elements and formulate a model of the functioning of the region’s innovation ecosystem; assess the impact of the innovation ecosystem in the process of integrating elements of sustainable development and test it using the example of the Vladimir region.Methodology. The work used methods of statistical, graphical and logical analysis, generalization, and systematization of data.Results. Based on a theoretical review, a model of the functioning of the region's innovation infrastructure was obtained, and its influence was determined when integrating elements of the Concept of Sustainable Development into the regional economic system of the Vladimir region.Conclusions. When conducting the study, it was concluded that the integration of the innovation ecosystem into the regional economic system helps to increase the indicators of innovative products produced, and will create conditions for the implementation of the goals of the concept of sustainable development in the region.