Vol 20, No 1 (2025)
Economic Theory
The impact of information technologies and artificial intelligence on economic growth: An analysis of theoretical approaches
Abstract
Introduction. This survey analyzes the impact of information technologies (IT) and artificial intelligence (AI) on economic growth. Despite the clear potential of new technologies, since the mid-2000s, the developed countries have been experiencing both a slowdown in their economic growth rates and a rise in their research and development expenditures. Additionally, market dynamism has been declining, which results in lower firm entry and exit rates, alongside a decrease in labour mobility. Purpose. The article aims at analyzing current studies that explore the lack of notable macroeconomic effects from IT and AI proliferation. Materials and Methods. The study includes critical analysis and discussion of academic literature focused on the macroeconomic effects of IT and AI. Results. A literature review revealed that current studies offer several reasons for no macroeconomic effects from IT and AI proliferation. Some studies suggest that the growth of market power and reduced dynamism are linked to diminishing opportunities for firms to catch up with the leaders due to IT and AI characteristics, such as slower knowledge diffusion and higher importance of intangible assets. Other potential reasons for the lack of IT and AI impacts on economic growth include: a) overly optimistic expectations regarding the productivity effects of IT and AI, b) inaccuracies in measuring the IT and AI effects, c) the use of new technologies for redistributing existing rents rather than creating new added value, and d) implementation and restructuring lags for additional investments and time to integrate general-purpose technologies like IT and AI. Conclusions. Findings from current theoretical models suggest that slowing market dynamism and increasing market power may be linked to IT diffusion. Therefore, the paper may be useful for researchers and economists interested in the factors of economic growth in the context of digital transformation. The conclusion explores potential AI applications to stimulate economic growth.
5-27
Mathematical, Statistical and Instrumental Methods in Economy
Modeling an incentive management system for research and teaching staff at the University
Abstract
Introduction. The article considers the current situation with the incentive part of remuneration for the university teachers. An important component of the scientific activity at the university is analyzed, which is an innovative activity associated with a more dynamic academic performance. The relevance of the research arises from the need to manage personnel training for the technological sovereignty of the country. This requires new efforts and entails costs for the teaching staff, which, in its turn, calls for the revised motivation systems for innovative activity. Purpose. The article is aimed at describing an incentive system for research and teaching staff and formalizing the functions of the participants with a performance-based employment contract. Materials and Methods. The materials of the study are the terms and conditions stated in the performance-based employment contracts at the Universities in Samara region and the incentive system for research and teaching staff. Methodologically, the research refers to game theory; coalition games are also considered. The article analyzes possible situations typical for the relationships between the University Administration and teachers motivated to intensify innovative and scientific activities. Results. The authors managed to formalize the task of calculating incentive effects in a multi-agent motivation management system for university employees when a performance-based employment contract between the University Administration (Center) and different age groups of teachers (Agents) is prepared. Some restrictions, tolerance regions, have been identified for each participant in labour-management relations arising in the course of the University’s economic activity; adequate performance functions are plotted. Conclusions. The authors present a project of a multi-agent single-level system for motivation management among teachers when a performance-based employment contract is prepared. The obtained analytical management models account for the results of different groups of teachers from their planned innovative activities in higher education institutions. The next stage of the study is supposed to determine the types of functions characterizing the profit (loss) from each participant in the system to specify their innovative activities and interact between the Center and Agents when the external environment and its requirements are changing.
28-41
Analyzing the impact of asymmetric shocks on the interaction strategies between the monetary authorities of two countries
Abstract
Introduction. Stronger interdependence of countries driven by the international trade gives rise to a relevant question whether there is a need for each country to pursue its independent monetary policies or whether it is advisable to coordinate these policies. In other words, the question of whether we should consider the benefits from harmonizing international monetary policies becomes a key issue in the debate about the appropriate monetary policy strategies in open economies. Purpose. The objective of this study is to analyze the impact of asymmetric aggregate demand shocks on the need for monetary policy coordination in a simple stochastic model of two interacting countries. Materials and Methods. The authors analyze the equilibrium states of the examined interaction strategies between the monetary authorities with an analytical method by minimizing the loss function and solving sequential statistical problems of optimization. Results. The equilibrium states of the macroeconomies for interacting countries have been looked at when the monetary policies are coordinated and when they are not coordinated (the Nash and Stackelberg equilibrium) under asymmetric serially uncorrelated demand shocks. The response of inflation to asymmetric demand shocks is proven to be less for the Nash coordinated policy than for non-coordinated policy. This is opposite to the result obtained under symmetric supply shocks. The loss function analysis shows that the compensation of demand shocks is found to be more costly in the Nash equilibrium than under the coordination policy practiced by monetary authorities. The analysis of the monetary authorities’ interaction strategies showed that the real exchange rate plays an important role in balancing supply and demand in the two economies. Conclusions. The key finding of the study is that asymmetric shocks affect the evaluation of interaction strategies practiced by monetary authorities. The practical significance of the results lies in the fact that monetary authorities could stabilize the economy by creating buffers against external shocks.
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Regional and Industrial Economics
SDG integration into the management of region’s sustainable development
Abstract
Introduction. A complex and multidimensional strategic management of regional sustainable development is supposed to involve a wide range of participants not only from political, but also from academic and civil circles to prepare and support decisions at the local, national, and global levels. The novelty of the study lies in: a) validating an externally determined approach to set the goals in regional development programs, which is more consistent with the modern pattern of sustainable development; b) substantiating the relevance to observe SDGs to transform the architecture of regional sustainable development programs. The purpose of this work is to develop a methodological approach to integrate the SDGs into regional management policies. Materials and Methods. Based on the analysis and synthesis of scientific information, the author applied the methods of conceptual and functional modeling to design and describe the SDG integration into regional development programs, as well as research integration into preparing political decisions in the field of sustainable development. Results. The proposed methodology is aimed at preparing scientific developments that specifically answer the question of how to achieve systemic implementation of SDGs in the context of regional features and translate this knowledge into a coordinated policy to achieve sustainable development of the region. Conclusions. The proposed developments will eliminate the inconsistencies in the strategic documents on sustainable development of regions, ensure a synergy effect, observe the interests of a wide range of stakeholders at the stage of setting goals, and will also contribute to the real progress towards their achievement. The results of the study may be in demand among the representatives of government and management bodies when preparing the documents aimed at strategic management of sustainable development in Russian regions.
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Methodology to evaluate the balance in multicomponent economic systems of regions
Abstract
Introduction. The balanced development of regional systems is an important prerequisite for their sustainable performance. Regional economic systems consist of many interacting components. Modern scientific literature gives no methods designed to evaluate the balance of multicomponent regional systems. The purpose of the study is to develop a methodology for assessing the balance of multicomponent economic systems of regions and test it with the data of the regions of the Russian Federation, when the regions are considered to be two-, three- and four-component systems. Tasks are as follows: to plot a balance evaluation function, to develop a balance evaluation algorithm for the multicomponent economic systems in the regions, and to assess the balance of economic systems for the regions of the Russian Federation. Materials and Methods. The balance evaluation methodology is determined by the fact that a region is seen to be a system with many interacting components or N-components. This generalization facilitates a wide range of tools for assessing the balance of economic activities with the data of the regions. To test the methodology, we use the data from All-Russian Classifier of Economic Activities. Reference to a multicomponent system groups a large number of parameters with no significant calculation complexity, which provides great opportunities to use the method with no reference to large volumes of data and a number of parameters. Results. The developed method was tested with the data concerning the regions of the Russian Federation; the results were compared. This approach evaluates the proportions of the regions with a large number of input parameters with no significant calculating complexity. Most regions are shown to have either a low or medium level of balance. The results also clearly illustrate the impact of an environmental component on the balance of the region. Conclusions. The proposed approach to modeling the balance in regions’ economic activities can be useful for making efficient management decisions and developing growth strategies for regional systems.
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Cluster-network interaction as a management tool for health tourism market in a regional economy
Abstract
Introduction. Global trends unfolding at various constituent’s levels transform the approaches to economic development management and business adaptation to external challenges. The prerequisites of cluster-network interaction as a special kind of management in various industries originate from a rigorous implementation rate of digital solutions, technological changes, and the need to preserve competitive advantages. At the level of public administration, the cluster-network approach contributes to more efficient regulation and coordination of the functions of business entities, their reasonable integration into the socio-economic system of the regions. The high quality of cluster-network interaction can provide a positive response for related organizations, while this response could also affect local consumer markets and saturate them with valuable products and services. Health tourism is characterized with a complicated industrial algorithm that requires not only the coordination of resource, infrastructure, and human resources, but also proper equipment and facilities for effective diagnostic, wellness, and rehabilitation procedures. Purpose. The purpose of the study is to develop a model of cluster-network interaction in the field of health tourism. Materials and Methods. Methodologically, the work refers to the scientific and theoretical theories of clusters, networks, cluster-network interactions among a wide range of agents with various functions and capacities. Scientific, theoretical, and statistical analysis, modeling of cluster-network interaction are the key research methods. The official Rosstat data about tourism and health services were the information resources for the study. Results. The author of the study analyzed approaches to the description of economic and market processes driven by cluster-network interaction and defined the levels and key agents of its application. The study also systematized the conditions and factors for cluster-network units specialized in medical and wellness services. Conclusions. The author developed a cluster-network interaction model for managing health tourism market. The proposed model is tailored to the peculiarities of spatial and territorial location and the market potential of the country’s resort medicine.
88-100
Selection mechanism for regional energy security indicators
Abstract
Introduction. Energy security issues are included in the agenda, which is determined by a crucial role of energy in economy and society. A specific methodology with a number of indicators could be applied to evaluate energy security. The methods developed so far can no longer provide an adequate picture of the security as they have become obsolete, increasingly biased, and currently unusable. Purpose. The study aims at developing a selection mechanism for indicators to evaluate the energy security of the region and prepare a list of these indicators. Materials and Methods. The work referred to such general scientific methods as analysis, synthesis, generalization, deduction, and systematization. An econometric modeling based selection mechanism is described. An indicator could be included in methodology if it influences economic security, given that energy security is an element of economic security and should ensure the achievement of its goals. The study used 2014–2022 data for 85 regions in the Russian Federation. Results. Literature overview revealed significant aspects of energy security, identified approaches to selection, and outlined the most common indicators used to evaluate the level of security. Correlation and regression analysis gave a list of 7 indicators that characterize the energy system, physical availability of resources, and environmental acceptability. Conclusions. The developed mechanism lowers the biased influence on the selection process, evaluates the validity of indicators, and excludes the insignificant ones. The study is intended for the government bodies in order to improve the evaluation of regional energy security and develop more efficient measures. Further research is supposed to expand the list of indicators by taking into account the aspect of affordability and various types of resources and develop the mechanism by including other economic security goals.
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