No 2 (2024)

Economy diversification as a factor of sustainable development of the region under modern conditions

Bikmaeva A.D.

Abstract

In the context of a high degree of uncertainty in the modern global economic space, the search for ways that can ensure long-term stable development of the economy of the country’s regions becomes relevant. The purpose of the study is to identify the strength of relationship between the level of development of an economic entity and the degree of diversification of its economy, which will allow the regions of the Russian Federation to justify the choice of diversification or specialization policy. The level of diversification was determined by such methods as analysis of the structure of the regional economy, highlighting the sectors of the national economy that make the greatest contribution to the gross regional product; study of the distribution of employees by types of economic activity; calculation of indicators characterizing the concentration of production in territories – the Herfindahl–Hirschman index, dispersion indicator, entropy coefficient. The study identified that more than 12 % of regions have a low diversification level, mainly associated with mining operations. The author calculated the correlation coefficient between the Herfindahl–Hirschman index and the indicators of the gross regional product of the Russian Federation constituents, which allowed concluding on the absence of connection between these indicators. The author believes that diversification of the region’s economy does not guarantee an increase in its efficiency. Constituents with a low diversification level often have high indicators of socio-economic development; therefore, the focus on diversification is not always an economically sound strategy for the development of the region. Thus, increasing the diversification level does not have a direct connection confirmed by calculations with the level of development of the region; however, additional research on the structure of manufacturing industries and determining their impact on the economic system are necessary.

Digital Economy & Innovations. 2024;(2):5-14
pages 5-14 views

Assessing the effectiveness of tools of government stimulation of the development of the tourism industry and the sustainability of its recovery

Demidova S.E.

Abstract

The relevance of the study is caused by the increasing importance of the tourism industry in the national economic system. Since tourism was hit hardest by the COVID-19 pandemic, government support measures were aimed at restoring industry dynamics and further development. The scale of a country’s economy influences the structural priorities of the industry: the larger the country, the less it depends on international tourism and should be interested in stimulating domestic tourism. The study of the country as a whole has focused on aggregate tourism indicators; the uneven growth of tourism across regions reflects both the differences in socio-economic and natural-climatic conditions and the strategic priorities for the development of the industry and its share in economic growth. The study considers the mechanisms of government stimulation of the tourism industry and analyzes the dynamics of industry development indicators and assessments of its recovery sustainability at a regional level. The methodological procedures of the study are based on the analysis of international information and analytical resources, statistical data on the Russian Federation, indicators of strategic documents, and budget data. An analysis of the use of government tools to stimulate the development of the tourism sector reflects the positive impact of industry indicators on the dynamics of its recovery both immediately after a year of pandemic restrictions and in the subsequent period. The study proved the effectiveness of the “tourist cashback” support tool. Based on data on the structure of the tourist flow and places of accommodation, the author concluded that the share of the number of Russian tourists, inbound and outbound tourism has increased. Tourist trips have become more frequent, but shorter in duration. The leadership of regions according to the results of assessing the sustainability of tourism recovery is associated with various factors: the “dacha region effect”, the concentration of sanatorium and resort organizations, etc. The development of the industry is associated with adaptation to global sustainability trends, digitalization, and state-private-public partnership

Digital Economy & Innovations. 2024;(2):15-27
pages 15-27 views

Analysis of the use of artificial intelligence in economic sectors and the system of regional executive power of the Russian Federation

Eroshenko E.P.

Abstract

Announced as part of the Presidential Address to the Federal Assembly in February 2024, the Data Economy national project defines the demand for artificial intelligence (AI) technology in the system of public administration, economic sectors and business activities. AI technology is increasingly penetrating business activities, production processes, and the system of public administration, creating the need to improve methods for assessing its impact on economic development. The goal of the work is to supplement the methodological tools for assessing the level of use of AI in the economy of the Russian Federation. The object of the study is the use of AI in certain sectors of the economy and regions. The subject of the study is the interrelation between the balanced income of economic sectors, regions of the Russian Federation and indicators of the use of AI in entrepreneurship and public administration practice. The work considers AI not as a separate branch of the economy, but as a technology that, in turn, has an impact on the development of individual industries and regions. The author identified a direct dependence of the positive financial results of the activities of individual sectors of the economy, regions and the use of AI technology in them. The study shows that regions and industries with a relatively more favorable financial position use AI more actively. On the one hand, this creates opportunities for the development of industries and regions; on the other hand, it creates a lag in the application of AI technology. The obtained result is applicable in the system of state planning, determining priorities for economic development of both individual industries and the economy as a whole.

 

Digital Economy & Innovations. 2024;(2):29-38
pages 29-38 views

The relationship of employment in the agricultural sector to electric power consumption, government final consumption, and the democracy index in Bangladesh

Rahaman M.

Abstract

Agriculture stands as the cornerstone of Bangladesh’s rural economy, sustaining not only food production, but also serving as a primary source of employment for its rural populace. Modernising this sector holds the potential to bolster its expansion, and generate further employment opportunities, thereby fostering rural socio-economic development. The purpose of the study is to examine the impact of electric power consumption, government final consumption expenditure, and the democracy index on employment in the agricultural sector in Bangladesh. Employing a dynamic ARDL model, we examined the short and long run dynamics between agricultural employment and other independent variables, utilising data spanning the period from 1991 to 2022. The findings underscore the pivotal role played by electricity in the growth of employment in agriculture. The study illuminates the nuanced interplay between various factors, revealing that government expenditure positively influences the agricultural sector, while the democratic landscape exerts a negative influence. In light of these insights, the paper advocates for strategic policy measures, emphasising the critical need for the government to prioritise the development of the electric sector, recognising it as a linchpin for sustainable agricultural growth and overall socio-economic advancement. Simultaneously, the study highlights the imperative of fostering a conducive political environment, underscoring its direct correlation with positive changes in the agricultural sector. Through these concerted efforts, Bangladesh can pave the way for a more resilient and prosperous agricultural landscape, contributing significantly to its overarching socio-economic development.

Digital Economy & Innovations. 2024;(2):39-46
pages 39-46 views

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