Modeling regional economic growth in the context of simulation modeling of scientific and technological progress: case of the republic of tatarstan
DOI:
https://doi.org/10.20397/2177-6652/2023.v23i4.2716Palavras-chave:
Scientific and Technological Potential, Economic Growth, Fourth Industrial Revolution, Republic of Tatarstan, Production Function, Sustainability of Economic DevelopmentResumo
The article examines the role of scientific and technological progress in stimulating the economic growth of the Republic of Tatarstan. The basic factors of economic dynamics included in the neoclassical production function are labor, fixed capital, and scientific and technological progress. When including the production functions of scientific and technological progress in models, it is often understood as the potential for the creation and diffusion of innovations in the economic environment. In this article, scientific and technological progress is regarded as a set of human, financial, infrastructural, and institutional resources that determine the overall innovative capabilities of the region and the level of its effectiveness in the field of science and technology to ensure qualitative and structural parameters of economic growth and development, increasing competitiveness at the meso, macro, and global level. The authors’ approach includes a thorough examination of the scientific and technological potential of Tatarstan over the past decade, offering insights into its different aspects. The methodological framework is based on a combination of quantitative and econometric methods. Based on this approach to definition and the methodological tools for measuring scientific and technological progress proposed by the authors, the authors attempt to construct the Solow production function. The assessment results are employed to determine the specific parameters of how productive factors impact the dynamics of GRP (illustrated by Tatarstan) and to identify patterns that highlight the significance of scientific and technological progress in shaping the prospects of economic dynamics during the Fourth Industrial Revolution.
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