HIGH-TECH BUSINESS AND THE ECONOMIC COMPLEXITY OF RUSSIAN REGIONS
A.A. Goryushkin, S.R. Khalimova
Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences, Novosibirsk, Russia
Keywords: high-tech business, region, economic complexity, regional economic structure, clustering of regions
Abstract
High-tech business (HTB) drives new products and markets, as well as reshapes traditional industries and ways of doing business, which is one of the key factors in long-term economic development. This article analyzes the state of high-tech business development at the regional level in conjunction with the economic complexity of regional economies. The role of HTB varies significantly in the economies of individual regions. Furthermore, regions differ by their economic complexity. Such an index is calculated based on the local export basket and reflects the availability of special production opportunities for further expansion. The aim of the article is to classify Russian regions, bearing in mind the patterns of HTB evolution and regional economic complexity, in order to then identify leading and outsider regions. The results of our analysis suggest that high-tech business is more extensive and advanced in economically more complex regions. Thus, the economic complexity of regions may be a criterion for determining strategies for their economic development, including measures to support HTB. The article proposes regional economic development policy strategies for the selected groups of regions, which take into account the existing opportunities to make economies more complex.
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