Assessment of the contribution of scientific and technological progress to the economic growth of Russian regions: analysis and management based on the Solow model

Abstract

The article assesses the economic growth of the region in order to determine the degree of influence of scientific and technological progress on the economic development of the region. The relationship between the development of economic entities and the level of implementation of scientific and technological progress, which serves as an indicator of the general level of economic development of the region, is noted. The role of human and investment resources as key factors contributing to the achievement of strategic goals, the introduction of innovations, the optimization of processes and the increase of competitiveness is emphasized. On the basis of the analysis of the socio-economic development of the region on the example of the Udmurt Republic, its balanced development is proved. The Gini coefficient, which characterizes the uneven distribution of total incomes of the population, confirmed the relatively low level of income inequality due to the growth of wages, a decrease in unemployment, and the development of industrial sectors. The analysis of the dynamics of economic growth is carried out on the example of two regions of the Udmurt Republic and the Republic of Crimea due to the contribution of scientific and technological progress through the calculation of the Solow balance, which made it possible to clearly trace the trend of economic growth and the relationship with the processes of accumulation of scientific and technological progress. As a result, fluctuations related to the pandemic and geopolitical events were identified, which determined measures to increase resilience, such as investing in research and development, developing high-tech sectors, and diversification. The statistical base of the study was a panel formed from official statistics data for two regions of the Russian Federation for 2017-2023. The scope of application of the results of the study is associated with the possibility of their use by regional authorities for the development and adjustment of scientific, technical and industrial policies, the formation of sustainable development strategies and increasing the validity of management decisions.