Article2023

High-Tech Business and Economic Complexity of Russian Regions

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Economic and Technological Developments in Russia Regional Economic Development and Innovation Economic and Technological Innovation

Abstract

Abstract High-tech business creates new products and markets, as well as changing traditional sectors and ways of organizing business, which is one of the key factors of long-term economic development. The article analyzes the state and development of high-tech business at the regional level in conjunction with the economic complexity of regional economies. The role of high-tech business in the economies of individual regions differs significantly from its role in other economies. Regions also differ in economic complexity. This indicator is calculated based on the export basket of a region and reflects the special production opportunities for further growth and development. The objective of this study is to construct a scheme for determining the directions of technological development of regions, based on the classification of Russian regions, taking into account the development patterns of high-tech business, the complexity of a regional economy, and identification of the technological profiles of the obtained groups of regions. The operability of the scheme is demonstrated with examples of the Russian regions. The directions of technological development have been identified: related diversification of sectors oriented towards increasing their share in the technological chain with increased added value; technological modernization to increase the competitiveness of products oriented towards exports outside the region; innovation breakthrough—the creation of high-tech and knowledge-intensive sectors oriented towards high value-added products in regions with the largest mining corporations; smart specialization, implying the development of local advantages and expansion of markets, and interregional cooperation.

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References

2009The building blocks of economic complexity 2009The export orientation and export performance of high-technology SMEs in emerging markets: The effects of knowledge transfer by returnee entrepreneurs 2007Location: A Neglected Determinant of Firm Growth 2017Economic development and wage inequality: A complex system analysis 2020High tech business in Russian regions: Role in economy, differentiation, main development determinants 2020Influence of Regional Conditions on the Development of High-Tech Companies in Russia

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