Accelerated introduction of digital technology has recently become one of the key areas in development of Russian economy. The paper presents the approach to innovation intensity assessment by sector and economic activity. The method makes it possible to identify the growth intensity for an output of innovative products. This serves as an indicator of introduction of new technologies and a transition to a more high-tech conversion. The narration assumes that innovations in various sectors are unstable and uneven. There is an observation that there was the highest efficiency increase over the period under review in production and distribution of electrical power, gas, and water, and in other low-tech sectors (primarily, food production). There is a highly intensive character of innovations observed in high-tech and medium-tech sectors. There is another observation that the reasons for the unstable and multidirectional dynamics are as follows: high dependence of efficiency and intensity of innovations on external economic shocks, significant impact made by measures of state support on intensity of innovations, concentration of innovating at large-scale Russian and transnational companies. The results obtained led to the conclusion on a need in more stimuli for national demand from the part of Russian businesses for innovations, including digital technology.
The cross-border movement of capital has suffered due to the COVID-19 pandemic since December 2019. Nevertheless, it is unrealistic for multinational companies to withdraw giant global value chains (GVCs) overnight because of the pandemic. Instead, active discussions and achievements of deals in cross-border mergers and acquisitions (M&As) are expected in the post-COVID-19 era among various other market entry modes, considering the growing demand in high technologies in societies. This paper analyzes particular determinants of cross-border mergers and acquisitions (M&As) during the pandemic year (2020) based on cross-sectional datasets by employing quasi-Poisson and negative binomial regression models. According to the empirical evidence, COVID-19 indices do not hamper M&A deals in general. This indicates that managerial capabilities of the coronavirus, not the outbreak itself, determined locational decisions of M&A deals during the pandemic. In this vein, it is expected that the vaccination rate will become a key factor of locational decision for M&A deals in the near future. Furthermore, countries that have been outstanding in coping with COVID-19 and thus serve as a good example for other nations may seize more opportunities to take a leap forward. In addition, as hypothesized, the results present positive and significant associations with M&A deals and the SDG index, confirming the resource-based theory of internationalization. In particular, the achievement of SDGs seems to exercise much influence in developing countries for M&A bidders during the pandemic year. This indicates that the pandemic demands a new zeitgeist that pursues growth while resolving existing but disregarded environmental issues and cherishes humanitarian values, for all countries, non-exceptionally, standing at the start line of the post-COVID-19 era.
This study analyzes the nexus between tourism and regional real growth for European regions at the Nomenclature of territorial units for statistics (NUTS), level 2, for the period 1995-2019. The study uses the dynamic panel threshold model to analyze complex relations between variables. As the dependent variable, we chose real growth rate of regional gross value added at basic prices by NUTS 2 regions. The independent variable is regional arrivals at tourist accommodation, while the control variables are health, household income, and employment at NUTS 2 regional level. The study found the threshold variable for 95% confidence interval. The marginal effects in the low inflation regime are higher compared to marginal effects in the high inflation regime. The study results support tourism-led growth hypothesis, indicating tourism as a one of the main drivers of regional growth. This research contributes to rare literature in application of dynamic panel threshold model in tourism. As an implication, this study can be used as a methodological approach to analyze the impact of different variables (not only tourism, but also innovations, technology, well-being, etc.) on regional growth, especially in countries with high regional differences, such as the Commonwealth of Independent States (CIS), Latin America, etc.
The purpose of the research is to analyse the market for dual-use industrial products in Russia and to make a forecast of its development through the example of the machinery and technical products export. The factors that affect the functioning of the dual-use product market are highlighted, including gross domestic product, the volatility index, oil price, and the dollar index. A multiplicative dynamic series decomposition model was used to forecast the export of dual-use machinery and technical products. It has been established that the export of dual-use machinery and technical products is characterised by a decrease in the medium-term forecast period (2020–2024). To intensify market development, priority areas for cooperation and expansion of joint projects in the military-industrial complex have been formulated. The practical significance of the results obtained is the ability to determine the points of innovative growth of the dual-use industrial products market in Russia.
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