Empirical assessment of the impact of digital transformation upon development of inclusive model of economic growth of the region

Abstract

The subject of this research is the economic relations concerning the development of the model of inclusive development of the region based on transformations implemented in the field of digitalization of economic relations. The object of this research is the regions of the Volga Federal District. The authors dwell on the aspects and peculiarities of formalized assessment of the inclusive model of economic growth in the regions, taking into consideration the built integral indexes of digitalization of their socioeconomic systems, as well as aim to build integral indexes that characterize the key vectors and development trends of the analyzed categories with subsequent construction of models that assess the degree of their interrelation. Special attention is given to questions of comparative analysis of the regions of the Volga Federal District in accordance with the determined parameters and peculiarities of the developed model of inclusive economic growth. The main conclusions lie in the provisions, according to which regions with the higher level of inclusive development demonstrate better indicators of socioeconomic development. The authors’ special contribution consists in the construction of time series that assess the quantitative and qualitative parameters of digital transformation of the regions and the degree of development of their models of inclusive growth, which allows acquiring new results that would reveal the peculiarities and prospects of regional development in the new economic conditions. The author not only determined the degree of impact of digital transformation processes upon the prospects for the transition of the regional socioeconomic systems to a new, inclusive type of development, but also to formed the basis for further expansion of the approaches used in economic theory for studying the economic dynamics.

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“…To fix economic growth, a number of well-known macroeconomic indicators are used. To measure inclusive development, the Asian Development Bank has proposed a methodology for calculating the IDI (Inclusive Development Index), which includes, in addition to the traditionally used indicators of economic growth, indicators of poverty and inequality, social inclusion, generational equality and sustainability (Elshin et al, 2021).…”