<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE root>
<article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:ali="http://www.niso.org/schemas/ali/1.0/" article-type="research-article" dtd-version="1.2" xml:lang="en"><front><journal-meta><journal-id journal-id-type="publisher-id">Digital Economy &amp; Innovations</journal-id><journal-title-group><journal-title xml:lang="en">Digital Economy &amp; Innovations</journal-title><trans-title-group xml:lang="ru"><trans-title>Цифровая экономика и инновации</trans-title></trans-title-group></journal-title-group><issn publication-format="print">3034-2074</issn><issn publication-format="electronic">3034-4204</issn><publisher><publisher-name xml:lang="en">Togliatti State University</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="publisher-id">895</article-id><article-id pub-id-type="doi">10.18323/3034-2074-2025-4-63-2</article-id><article-categories><subj-group subj-group-type="toc-heading" xml:lang="en"><subject>Articles</subject></subj-group><subj-group subj-group-type="toc-heading" xml:lang="ru"><subject>Статьи</subject></subj-group><subj-group subj-group-type="article-type"><subject>Research Article</subject></subj-group></article-categories><title-group><article-title xml:lang="en">Innovation activity of regions: assessing financial and non-financial factors</article-title><trans-title-group xml:lang="ru"><trans-title>Инновационная активность регионов: оценка финансовых и нефинансовых факторов</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0002-2169-4190</contrib-id><name-alternatives><name xml:lang="en"><surname>Demidova</surname><given-names>Svetlana E.</given-names></name><name xml:lang="ru"><surname>Демидова</surname><given-names>Светлана Евгеньевна</given-names></name></name-alternatives><address><country country="RU">Russian Federation</country></address><bio xml:lang="en"><p>PhD (Economics), Associate Professor, assistant professor of Chair of Public Finance of Financial Faculty</p></bio><bio xml:lang="ru"><p>кандидат экономических наук, доцент, доцент кафедры общественных финансов финансового факультета</p></bio><email>demidovapsk@gmail.com</email><xref ref-type="aff" rid="aff1"/></contrib></contrib-group><aff-alternatives id="aff1"><aff><institution xml:lang="en">Financial University under the Government of the Russian Federation</institution></aff><aff><institution xml:lang="ru">Финансовый университет при Правительстве Российской Федерации</institution></aff></aff-alternatives><pub-date date-type="pub" iso-8601-date="2025-12-26" publication-format="electronic"><day>26</day><month>12</month><year>2025</year></pub-date><issue>4</issue><issue-title xml:lang="ru"/><fpage>15</fpage><lpage>25</lpage><history><date date-type="received" iso-8601-date="2025-12-26"><day>26</day><month>12</month><year>2025</year></date><date date-type="accepted" iso-8601-date="2025-12-26"><day>26</day><month>12</month><year>2025</year></date></history><permissions><copyright-statement xml:lang="en">Copyright ©; 2025, Demidova S.E.</copyright-statement><copyright-statement xml:lang="ru">Copyright ©; 2025, Демидова С.Е.</copyright-statement><copyright-year>2025</copyright-year><copyright-holder xml:lang="en">Demidova S.E.</copyright-holder><copyright-holder xml:lang="ru">Демидова С.Е.</copyright-holder><ali:free_to_read xmlns:ali="http://www.niso.org/schemas/ali/1.0/"/><license><ali:license_ref xmlns:ali="http://www.niso.org/schemas/ali/1.0/">https://creativecommons.org/licenses/by/4.0</ali:license_ref></license></permissions><self-uri xlink:href="https://vektornaukieconomika.ru/jour/article/view/895">https://vektornaukieconomika.ru/jour/article/view/895</self-uri><abstract xml:lang="en"><p>The issue of technological modernization and ensuring technological sovereignty of Russia necessitates identifying the financial and non-financial factors of regional innovation development. The study aims to assess the influence of these factors, taking into account regional specificities. The research methodology is based on the concepts of technological sovereignty, open innovations, and industrial policy. The author applied methods of econometric panel data analysis using regression equations that included quadratic terms to identify nonlinear dependencies. To account for regional specificities, a typology of the constituent entities of the Russian Federation was developed (science-intensive, industrial, resource-based, and diversified). A stable positive correlation was identified between the level of regional innovation activity and two key factors: the volume of spending on technological innovation (with an optimal threshold of 4.1 %) and the number of researchers. Furthermore, a diminishing return effect was detected: exceeding the optimal level of innovation investment leads to a decrease in their effectiveness. Science-intensive and industrial regions demonstrate higher indicators compared to diversified ones, while resource-based regions lag behind. The analysis revealed no statistically significant impact of R&amp;D expenditures on innovation activity, indicating a need to revise existing scientific research funding mechanisms. The obtained results confirm the necessity for a differentiated approach to regulating innovation processes, taking into account regional specialization and economic characteristics. Particular attention should be paid to optimizing the level of innovation spending and developing human scientific potential focused on high-quality research outputs. For resource-based regions, the development of special measures to overcome structural constraints and diversify the economy is critical. The results of the study provide a scientific basis for the formulation of targeted technological development strategies aimed at strengthening technological sovereignty of Russia.</p></abstract><trans-abstract xml:lang="ru"><p>Проблема технологической модернизации и обеспечения технологического суверенитета России определяет необходимость выявления финансовых и нефинансовых факторов инновационного развития регионов. Целью исследования является оценка влияния этих факторов с учетом региональной специфики. Методологическую основу исследования составили концепции технологического суверенитета, открытых инноваций и индустриальной политики. Применены методы эконометрического анализа панельных данных с использованием уравнений регрессии, включающих квадратичные члены для выявления нелинейных зависимостей. Для учета региональной специфики проведена типологизация субъектов Российской Федерации (наукоемкие, индустриальные, ресурсные, диверсифицированные). Выявлена устойчивая положительная зависимость между уровнем инновационной активности регионов и двумя ключевыми факторами: объемом затрат на технологические инновации (с оптимальным порогом в 4,1 %) и численностью исследователей. При этом обнаружен эффект убывающей отдачи: превышение оптимального уровня инновационных инвестиций приводит к снижению их эффективности. Наукоемкие и индустриальные регионы демонстрируют более высокие показатели по сравнению с диверсифицированными, тогда как ресурсные регионы отстают. Выявлено отсутствие статистически значимого влияния расходов на НИОКР на инновационную активность, что указывает на необходимость пересмотра существующих механизмов финансирования научных исследований. Полученные результаты доказывают необходимость дифференцированного подхода к регулированию инновационных процессов с учетом региональной специализации и экономических особенностей. Особое внимание следует уделить оптимизации уровня инновационных затрат, а также развитию кадрового научного потенциала, нацеленного на качественные научные результаты. Для ресурсных регионов критически важной представляется разработка специальных мер по преодолению структурных ограничений и диверсификации экономики. Результаты исследования создают научную основу для формирования адресных стратегий технологического развития, направленных на укрепление технологического суверенитета России.</p></trans-abstract><kwd-group xml:lang="en"><kwd>technological sovereignty</kwd><kwd>regional differentiation</kwd><kwd>innovation financing</kwd><kwd>scientific potential</kwd><kwd>technology commercialization</kwd><kwd>innovation activity</kwd></kwd-group><kwd-group xml:lang="ru"><kwd>технологический суверенитет</kwd><kwd>региональная дифференциация</kwd><kwd>финансирование инноваций</kwd><kwd>научный потенциал</kwd><kwd>коммерциализация технологий</kwd><kwd>инновационная активность</kwd></kwd-group><funding-group/></article-meta></front><body></body><back><ref-list><ref id="B1"><label>1.</label><citation-alternatives><mixed-citation xml:lang="en">Glazev S.Yu. “Strategy 2020” – anti-modernization document. Russian Economic Journal, 2012, no. 2, pp. 3–10. EDN: PFRYPX.</mixed-citation><mixed-citation xml:lang="ru">Глазьев С.Ю. «Стратегия 2020» – антимодернизационный документ // Российский экономический журнал. 2012. № 2. С. 3–10. EDN: PFRYPX.</mixed-citation></citation-alternatives></ref><ref id="B2"><label>2.</label><citation-alternatives><mixed-citation xml:lang="en">Afanasev A.A. Technological sovereignty: nature, goals and mechanism of achievement. Russian Journal of Innovation Economics, 2025, vol. 15, no. 2, pp. 469–488. DOI: 10.18334/vinec.15.2.122986.</mixed-citation><mixed-citation xml:lang="ru">Афанасьев А.А. Технологический суверенитет: сущность, цели и механизм достижения // Вопросы инновационной экономики. 2025. Т. 15. № 2. С. 469–488. DOI: 10.18334/vinec.15.2.122986.</mixed-citation></citation-alternatives></ref><ref id="B3"><label>3.</label><citation-alternatives><mixed-citation xml:lang="en">Edler J., Blind K., Kroll H., Schubert T. Technology sovereignty as an emerging frame for innovation policy: Defining rationales, ends and means. Discussion Papers Innovation Systems and Policy Analysis, 2021, vol. 70, pp. 1–36. DOI: 10.24406/publica-fhg-301112.</mixed-citation><mixed-citation xml:lang="ru">Edler J., Blind K., Kroll H., Schubert T. Technology sovereignty as an emerging frame for innovation policy: Defining rationales, ends and means // Discussion Papers Innovation Systems and Policy Analysis. 2021. Vol. 70. P. 1–36. DOI: 10.24406/publica-fhg-301112.</mixed-citation></citation-alternatives></ref><ref id="B4"><label>4.</label><citation-alternatives><mixed-citation xml:lang="en">Dosi G. Technological paradigms and technological trajectories. Research Policy, 1982, vol. 11, no. 3, pp. 147–162. DOI: 10.1016/0048-7333(82)90016-6.</mixed-citation><mixed-citation xml:lang="ru">Dosi G. Technological paradigms and technological trajectories // Research Policy. 1982. Vol. 11. № 3. P. 147–162. DOI: 10.1016/0048-7333(82)90016-6.</mixed-citation></citation-alternatives></ref><ref id="B5"><label>5.</label><citation-alternatives><mixed-citation xml:lang="en">Freeman C. Continental, national and subnational innovation systems – complementarity and economic growth. Research Policy, 2002, vol. 31, no. 2, pp. 191–211. DOI: 10.1016/S0048-7333(01)00136-6.</mixed-citation><mixed-citation xml:lang="ru">Freeman C. Continental, national and subnational innovation systems – complementarity and economic growth // Research Policy. 2002. Vol. 31. № 2. P. 191–211. DOI: 10.1016/S0048-7333(01)00136-6.</mixed-citation></citation-alternatives></ref><ref id="B6"><label>6.</label><citation-alternatives><mixed-citation xml:lang="en">Etzkowitz H., Leydesdorff L. The dynamics of innovation: from National Systems and “Mode 2” to a Triple Helix of university-industry-government relations. Research Policy, 2000, vol. 29, no. 2, pp. 109–123. DOI: 10.1016/S0048-7333(99)00055-4.</mixed-citation><mixed-citation xml:lang="ru">Etzkowitz H., Leydesdorff L. The dynamics of innovation: from National Systems and “Mode 2” to a Triple Helix of university-industry-government relations // Research Policy. 2000. Vol. 29. № 2. P. 109–123. DOI: 10.1016/S0048-7333(99)00055-4.</mixed-citation></citation-alternatives></ref><ref id="B7"><label>7.</label><citation-alternatives><mixed-citation xml:lang="en">Shirov A.A., Belousov D.R., Blokhin A.A., Gusev M.S., Klepach A.N., Uzyakov M.N. Russia 2035: the new quality of the national economy. Studies on Russian Economic Development, 2024, vol. 35, no. 2, pp. 161–170. DOI: 10.1134/S1075700724020151.</mixed-citation><mixed-citation xml:lang="ru">Широв А.А., Белоусов Д.Р., Блохин А.А., Гусев М.С., Клепач А.Н., Узяков М.Н. Россия 2035: новое качество национальной экономики // Проблемы прогнозирования. 2024. № 2. С. 6–20. DOI: 10.47711/0868-6351-203-6-20.</mixed-citation></citation-alternatives></ref><ref id="B8"><label>8.</label><citation-alternatives><mixed-citation xml:lang="en">Khayrullina O.Yu., Soloveva I.A. Incentives and constraints of technology transfer: industrial enterprises in Chelyabinsk region. Bulletin of the South Ural State University. Series “Economics and management”, 2024, no. 3, pp. 132–151. DOI: 10.14529/em240310.</mixed-citation><mixed-citation xml:lang="ru">Хайруллина О.Ю., Соловьева И.А. Стимулы и ограничения процессов трансфера технологий: кейс промышленных предприятий Челябинской области // Вестник Южно-Уральского государственного университета. Серия: Экономика и менеджмент. 2024. № 3. С. 132–151. DOI: 10.14529/em240310.</mixed-citation></citation-alternatives></ref><ref id="B9"><label>9.</label><citation-alternatives><mixed-citation xml:lang="en">Ketova N.P., Ovchinnikov V.N. Regional innovation clusters management efficiency. Science governance and scientometrics, 2023, vol. 18, no. 1, pp. 63–87. DOI: 10.33873/2686-6706.2023.18-1.63-87.</mixed-citation><mixed-citation xml:lang="ru">Кетова Н.П., Овчинников В.Н. Политика управления развитием региональных инновационных кластеров // Управление наукой и наукометрия. 2023. Т. 18. № 1. C. 63–87. DOI: 10.33873/2686-6706.2023.18-1.63-87.</mixed-citation></citation-alternatives></ref><ref id="B10"><label>10.</label><citation-alternatives><mixed-citation xml:lang="en">Obukhova A.S., Ershova I.G., Semenov R.V. Scientific and innovation potential as a driver public management of technological development. Bulletin of the Academy of Knowledge, 2024, no. 1, pp. 570–573. EDN: TGZUON.</mixed-citation><mixed-citation xml:lang="ru">Обухова А.С., Ершова И.Г., Семенов Р.В. Научно-инновационный потенциал как драйвер государственного управления технологическим развитием // Вестник Академии знаний. 2024. № 1. С. 570–573. EDN: TGZUON.</mixed-citation></citation-alternatives></ref><ref id="B11"><label>11.</label><citation-alternatives><mixed-citation xml:lang="en">Golova I.M., Sukhovey A.F. Innovation and technological development of industrial regions in the conditions of socioeconomic insecurity. Economy of Regions, 2015, no. 1, pp. 131–144. DOI: 10.17059/2015-1-12.</mixed-citation><mixed-citation xml:lang="ru">Голова И.М., Суховей А.Ф. Инновационно-технологическое развитие промышленных регионов в условиях социально-экономической нестабильности // Экономика региона. 2015. № 1. С. 131–144. DOI: 10.17059/2015-1-12.</mixed-citation></citation-alternatives></ref><ref id="B12"><label>12.</label><citation-alternatives><mixed-citation xml:lang="en">Martinidis G., Komninos N., Dyjakon A., Stanisław M., Małgorzata H. How Intellectual Capital Predicts Innovation Output in EU Regions: Implications for Sustainable Development. Sustainability, 2021, vol. 13, article number 14036. DOI: 10.3390/su132414036.</mixed-citation><mixed-citation xml:lang="ru">Martinidis G., Komninos N., Dyjakon A., Stanisław M., Małgorzata H. How Intellectual Capital Predicts Innovation Output in EU Regions: Implications for Sustainable Development // Sustainability. 2021. Vol. 13. Article number 14036. DOI: 10.3390/su132414036.</mixed-citation></citation-alternatives></ref><ref id="B13"><label>13.</label><citation-alternatives><mixed-citation xml:lang="en">Desyatnichenko D.Yu., Karanatova L.G., Moskalenko V.N. Regional investment potential as a factor in achieving technological sovereignty in key sectors of the Russian economy. Economics and Management, 2024, vol. 30, no. 5, pp. 528–539. DOI: 10.35854/1998-1627-2024-5-528-539.</mixed-citation><mixed-citation xml:lang="ru">Десятниченко Д.Ю., Каранатова Л.Г., Москаленко В.Н. Инвестиционный потенциал региона как фактор достижения технологического суверенитета в ключевых отраслях экономики России // Экономика и управление. 2024. Vol. 30. № 5. P. 528–539. DOI: 10.35854/1998-1627-2024-5-528-539.</mixed-citation></citation-alternatives></ref><ref id="B14"><label>14.</label><citation-alternatives><mixed-citation xml:lang="en">O’Reilly T. Government as a Platform. Innovations: Technology, Governance, Globalization, 2011, vol. 6, no. 1, pp. 13–40. DOI: 10.1162/INOV_a_00056.</mixed-citation><mixed-citation xml:lang="ru">O’Reilly T. Government as a Platform // Innovations: Technology, Governance, Globalization. 2011. Vol. 6. № 1. P. 13–40. DOI: 10.1162/INOV_a_00056.</mixed-citation></citation-alternatives></ref><ref id="B15"><label>15.</label><citation-alternatives><mixed-citation xml:lang="en">Winter S.G., Nelson R.R. An Evolutionary Theory of Economic Change. Cambridge, Harvard University Press Publ., 1982. 454 p. URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1496211.</mixed-citation><mixed-citation xml:lang="ru">Winter S.G., Nelson R.R. An Evolutionary Theory of Economic Change. Cambridge: Harvard University Press, 1982. 454 p. URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1496211.</mixed-citation></citation-alternatives></ref><ref id="B16"><label>16.</label><citation-alternatives><mixed-citation xml:lang="en">Chesbrough H.W. Open Innovation: The New Imperative for Creating and Profiting from Technology. Boston, Harvard Business Review Press Publ., 2003. 272 p. DOI: 10.2307/41166246.</mixed-citation><mixed-citation xml:lang="ru">Chesbrough H.W. Open Innovation: The New Imperative for Creating and Profiting from Technology. Boston: Harvard Business Review Press, 2003. 272 p. DOI: 10.2307/41166246.</mixed-citation></citation-alternatives></ref><ref id="B17"><label>17.</label><citation-alternatives><mixed-citation xml:lang="en">Rodrik D. Industrial Policy for the Twenty-First Century. CEPR Discussion Paper, 2004, no. 4767, pp. 1–60. URL: https://ssrn.com/abstract=666808.</mixed-citation><mixed-citation xml:lang="ru">Rodrik D. Industrial Policy for the Twenty-First Century // CEPR Discussion Paper. 2004. № 4767. P. 1–60. URL: https://ssrn.com/abstract=666808.</mixed-citation></citation-alternatives></ref><ref id="B18"><label>18.</label><citation-alternatives><mixed-citation xml:lang="en">Kuznetsova O.V. Rating of scientific and technological development in regions: approaches, results, and challenges. Studies on Russian Economic Development, 2023, vol. 34, no. 4, pp. 492–499. DOI: 10.1134/s1075700723040093.</mixed-citation><mixed-citation xml:lang="ru">Кузнецова О.В. Рейтинг научно-технологического развития регионов: подходы, итоги, вызовы // Проблемы прогнозирования. 2023. Vol. 4. P. 94–103. DOI: 10.47711/0868-6351-199-94-103.</mixed-citation></citation-alternatives></ref><ref id="B19"><label>19.</label><citation-alternatives><mixed-citation xml:lang="en">Lykova L.N. Tax incentives for innovation in Russia. Obshchestvennye nauki i sovremennost, 2019, no. 5, pp. 17–29. DOI: 10.31857/S086904990006559-6.</mixed-citation><mixed-citation xml:lang="ru">Лыкова Л.Н. Налоговая поддержка инноваций в России // Общественные науки и современность. 2019. № 5. С. 17–29. DOI: 10.31857/S086904990006559-6.</mixed-citation></citation-alternatives></ref><ref id="B20"><label>20.</label><citation-alternatives><mixed-citation xml:lang="en">Suvorova A.P., Vasileva N.V. Financial mechanisms and instruments to ensure the technological sovereignty of the Russian Federation. Innovative Development of Economy, 2023, no. 3, pp. 246–254. EDN: UWJUZL.</mixed-citation><mixed-citation xml:lang="ru">Суворова А.П., Васильева Н.В. Финансовые механизмы и инструменты обеспечения технологического суверенитета Российской Федерации // Инновационное развитие экономики. 2023. № 3. C. 246–254. EDN: UWJUZL.</mixed-citation></citation-alternatives></ref><ref id="B21"><label>21.</label><citation-alternatives><mixed-citation xml:lang="en">Vasyunina M., Kosov M., Gorlova O., Masterov A., Zambaev K., Safronova E., Shmigol N. New Economic Model and Conceptual Directions for Increasing Russia’s Regional Budgets Sustainability. Emerging Science Journal, 2024, vol. 8, no. 2, pp. 603–624. DOI: 10.28991/ESJ-2024-08-02-015.</mixed-citation><mixed-citation xml:lang="ru">Vasyunina M., Kosov M., Gorlova O., Masterov A., Zambaev K., Safronova E., Shmigol N. New Economic Model and Conceptual Directions for Increasing Russia’s Regional Budgets Sustainability // Emerging Science Journal. 2024. Vol. 8. № 2. P. 603–624. DOI: 10.28991/ESJ-2024-08-02-015.</mixed-citation></citation-alternatives></ref><ref id="B22"><label>22.</label><citation-alternatives><mixed-citation xml:lang="en">Dementev V.E. Technological sovereignty and economic interests. Journal of Institutional Studies, 2024, vol. 16, no. 3, pp. 6–18. DOI: 10.17835/2076-6297.2024.16.3.006-018.</mixed-citation><mixed-citation xml:lang="ru">Дементьев В.Е. Технологический суверенитет и экономические интересы // Журнал институциональных исследований. 2024. Т. 16. № 3. C. 6–18. DOI: 10.17835/2076-6297.2024.16.3.006-018.</mixed-citation></citation-alternatives></ref><ref id="B23"><label>23.</label><citation-alternatives><mixed-citation xml:lang="en">Balynin I.V. Financial support of domestic producers in the context of achieving the national development goals of the Russian Federation: key problems and proposals for their solution. Russian Journal of Innovation Economics, 2022, vol. 12, no. 1, pp. 317–340. DOI: 10.18334/vinec.12.1.114300.</mixed-citation><mixed-citation xml:lang="ru">Балынин И.В. Финансовая поддержка отечественных производителей в контексте достижения национальных целей развития Российской Федерации: ключевые проблемы и предложения по их решению // Вопросы инновационной экономики. 2022. Т. 12. № 1. С. 317–340. DOI: 10.18334/vinec.12.1.114300.</mixed-citation></citation-alternatives></ref><ref id="B24"><label>24.</label><citation-alternatives><mixed-citation xml:lang="en">Carayannis E.G., Campbell D.F.J. Triple Helix, Quadruple Helix and Quintuple Helix and how do knowledge, innovation and the environment relate to each other? International Journal of Social Ecology and Sustainable Development, 2010, vol. 1, no. 1, pp. 41–69. DOI: 10.4018/jsesd.2010010105.</mixed-citation><mixed-citation xml:lang="ru">Carayannis E.G., Campbell D.F.J. Triple Helix, Quadruple Helix and Quintuple Helix and how do knowledge, innovation and the environment relate to each other? // International Journal of Social Ecology and Sustainable Development. 2010. Vol. 1. № 1. P. 41–69. DOI: 10.4018/jsesd.2010010105.</mixed-citation></citation-alternatives></ref><ref id="B25"><label>25.</label><citation-alternatives><mixed-citation xml:lang="en">Capello R., Lenzi C. Territorial Patterns of Innovation: A Taxonomy of Innovative Regions in Europe. Annals of Regional Science, 2014, vol. 51, pp. 119–154. DOI: 10.1007/s00168-012-0539-8.</mixed-citation><mixed-citation xml:lang="ru">Capello R., Lenzi C. Territorial Patterns of Innovation: A Taxonomy of Innovative Regions in Europe // Annals of Regional Science. 2014. Vol. 51. P. 119–154. DOI: 10.1007/s00168-012-0539-8.</mixed-citation></citation-alternatives></ref><ref id="B26"><label>26.</label><citation-alternatives><mixed-citation xml:lang="en">Zubarevich N.V. Regiony Rossii: neravenstvo, krizis, modernizatsiya [Regions of Russia: Inequality, Crisis, Modernization]. Moscow, Nezavisimyy institut sotsialnoy politiki Publ., 2010. 160 p. EDN: VNFDJX.</mixed-citation><mixed-citation xml:lang="ru">Зубаревич Н.В. Регионы России: неравенство, кризис, модернизация. М.: Независимый институт социальной политики, 2010. 160 с. EDN: VNFDJX.</mixed-citation></citation-alternatives></ref><ref id="B27"><label>27.</label><citation-alternatives><mixed-citation xml:lang="en">Demidova S.E., Tyurina Yu.G. Assessing efficiency and scale of managing tax expendit ures to support investments and priority sectors in G20 countries’ economies during external shocks. Ars Administrandi (The Art of Management), 2025, vol. 17, no. 1, pp. 44–73. DOI: 10.17072/2218-9173-2025-1-44-73.</mixed-citation><mixed-citation xml:lang="ru">Демидова С.Е., Тюрина Ю.Г. Оценка эффективности и масштабности управления налоговыми расходами на поддержку инвестиций и приоритетных отраслей экономики в странах G20 в период внешних шоков // Ars Administrandi (Искусство управления). 2025. Т. 17. № 1. P. 44–73. DOI: 10.17072/2218-9173-2025-1-44-73.</mixed-citation></citation-alternatives></ref><ref id="B28"><label>28.</label><citation-alternatives><mixed-citation xml:lang="en">Makhotaeva M.Yu., Nikolaev M.A., Demidova S.E. Financial and economic drivers of technological sovereignty. Finance, 2025, no. 4, pp. 50–58. EDN: URUNVW.</mixed-citation><mixed-citation xml:lang="ru">Махотаева М.Ю., Николаев М.А., Демидова С.Е. Финансовые и экономические факторы обеспечения технологического суверенитета // Финансы. 2025. № 4. С. 50–58. EDN: URUNVW.</mixed-citation></citation-alternatives></ref></ref-list></back></article>
