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ECO journal (ECOnomics and industrial Engineering)

2019 year, number 2

Innovative Restructuring of the Regional Economy (on the Example of Rostov Region)

O. S. Belokrylova
Southern Federal University, Rostov-on-Don
Keywords: конкурентные преимущества, инновационный потенциал, региональная инновационная политика, проблемные зоны, бенчмаркинг, неоиндустриализация, цифровизация, региональная инновационная система, Competitive advantages, innovative potential, regional innovation policy, problem areas, benchmarking, neoindustrialization, digitalization, regional innovation system

Abstract

The work evaluates the innovative potential of Rostov region’s economy, formed as a result of the implementation of the region’s innovation policy, which has shown inefficiency in the use of the sufficiently high scientific, technical, innovative and educational potential of the region due to a number of problem areas for innovative development of the regional economy. This determined the research task of justifying directions of the regional economic policy aimed at innovative restructuring of the regional economy. To solve this problem, a benchmarking method was used that provided identification of international best practices in the implementation of economic policy in the context of rapid deployment of the 4th Industrial Revolution, which includes the following areas: neo-industrialization, digitalization and formation of regional innovation system. This allowed building a cognitive model that ensures deployment of regional economic policy from goal-setting, through criteria and metrics to the result of an innovative restructuring of the economy of the Rostov region. If neo- industrialization is identified as one of the three directions of targeted orientation of the regional policy of innovation restructuring of the economy, the high growth rates of the regional industry are used as its criterion, and one of the metrics is connection to achievements of the 4th industrial revolution, in particular, the development of Don designers on this level, as well as the use of m2m tariffs of cellular companies. As a metric testing strategy for development of digital economy, the road map “Digitalization of the urban environment in Rostov-on- Don” was used. Finally, as an indicator of the last component of the cognitive model of innovation restructuring of the economy of Rostov region - a regional innovation system - an audit of its elements was used.