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Scientific and Technological Progress and its Role in Ensuring Inclusive Economic Growth of the Region (on the Example of the Republic of Tatarstan)

Elshin Leonid Alekseevich

Doctor of Economics

Senior researcher at Center for Strategic Assessment and Forecasts of the Institute of Management, Economics and Finance, Kazan Federal University

420139, Russia, respublika Tatarstan, g. Kazan', ul. Ostrovskogo, 23/1

Leonid.Elshin@tatar.ru
Other publications by this author
 

 
Burganov Rafis Timerkhanovich

ORCID: 0000-0002-8943-0781

PhD in Economics

Rector, Volga Region State University of Physical Culture, Sports and Tourism

420111, Russia, Republic of Tatarstan, Kazan, Karl Marx str., 23/6

C.p@tatar.ru
Gafarov Marat Rinatovich

PhD in Economics

Researcher, "Center for Advanced Economic Research of the Academy of Sciences of the Republic of Tatarstan"

420111, Russia, Tatarstan region, Kazan, Karl Marx str., 23/6

C.p@tatar.ru

DOI:

10.25136/2409-7802.2022.3.38820

EDN:

OOYAAT

Received:

22-09-2022


Published:

05-10-2022


Abstract: The subject of the study is economic relations regarding the formation and development of an inclusive model of economic growth in the region in the context of scientific and technological progress. The Republic of Tatarstan acts as the object of research. Based on the use of the methodological tools of the World Economic Forum adapted to regional socio-economic systems, aggregated indices of inclusive development of the region's economy are being developed, followed by the construction on this basis of a production function that provides an empirical assessment of the impact of STP on the inclusive type of formation of regional economic dynamics. Particular attention is paid to the issues and patterns in the field of ongoing changes in the demand for labor in various sectors of the national economy in the context of a change in technological structure, which generates systemic and structural distortions and forms appropriate models of inclusive economic growth in the regions. The main conclusions of the study are well-founded, within the framework of the use of economic and mathematical apparatus, arguments proving that the role of scientific and technological development in the system of intensification of inclusive economic growth is not only comparable with such a productive factor as "The number of people employed in the economy", but also exceeds it in terms of the degree of impact on the endogenous parameter under study. A special contribution of the authors to the study of the topic is a modernized, regional-specific and patchwork statistical reporting of the meso-level, WEF algorithm, which provides the possibility of an empirical assessment of the index of inclusive economic development. The proposed methodological tools allowed not only to evaluate the indicator under study, but also to build the desired model in the format of searching for relationships "Inclusive growth-scientific and technological progress".


Keywords:

inclusive economic growth, region, sustainable development, systemic transformations, quality of life, production function, scientific and technological progress, inequality, the sixth technological order, structural shifts

This article is automatically translated.

The era of globalization, which predetermined the intensification of economic growth through the integration of national and regional economic systems into the global value chain, has formed a number of externalities of both positive and negative order. At the same time, if the positive ones include, for example, the general growth of well–being and the intensification of economic dynamics in developed and developing countries, then the negative ones include, in some cases, trends in the sphere of increasing income inequality, insufficient rates of poverty reduction, which creates risks of social tension on the scale of individual macro-economies. and meso-level. In this regard, traditional approaches to the management of socio-economic systems are increasingly being criticized against the backdrop of unfolding discussions about the optimality and effectiveness of the orientation of public policy to a greater or dominant degree aimed at intensifying economic dynamics. Taking into account these trends and the growing criticism of the existing models of economic growth, a new area of research, called the Theory of Inclusive Economic Growth, has entered the scientific and expert space. Under it, according to the position formed in 2015 at the World Economic Forum, it is proposed to understand the need to achieve balanced development, involving a combination of economic growth with opportunities for prosperity and increasing the well-being of all segments of society and their integration into the system of non-discriminatory distribution of the final product [1, 2, 3]. In other words, the main goal of an inclusive model of economic growth It is an increase in the quality of life of the population, taking into account the reduction / localization of inequality in society against the background of the activation of the processes of economic dynamics.

It should be noted that despite the relatively new trend in the theory of economic thought devoted to inclusive economic growth, the international scientific community has generally formed an approach to the identification and meaningful interpretation of this category. At the same time, it is still not necessary to say that at the present moment a unified position has been formed on this issue. In a generalized form, as mentioned earlier, inclusive economic growth is understood as long-term economic growth in all its sectors and spheres in a strict combination of poverty reduction and employment growth for the vast majority of social and demographic groups of the population.

It is generally believed that the most important impulse that formed the activation of research processes in this direction and the increase in interest from the expert community was the growth of income inequality observed in many developed and developing countries against the background of increasing economic dynamics. The previous accents in the economic policy of the turn of the 90s, concentrated more on the growth of purely economic indicators (GDP growth, investment in fixed assets, etc.) began to go into clear dissonance with the position that economic growth is a necessary and sufficient condition for ensuring sustainable development and meeting the expectations of economic agents regarding improving the quality of life. It is no coincidence that in recent years a fairly large number of works have begun to appear aimed at substantiating the fact that inequality contributes to undermining economic growth, and therefore these processes should develop in a balanced track system. At the same time, researchers often, within the framework of their discussions on an inclusive development model, make a tilt towards increasing the dominance of the policy of ensuring social well-being relative to economic incentives [4, 5, 6, 7]. This approach, in our opinion, carries some risks and does not fully understand the philosophy of an inclusive model of economic growth, since the latter can be effective only if it does not undermine economic priorities and incentives. In other words, an indispensable condition for ensuring an inclusive development model is a harmonious combination of structural and institutional parameters of socio-economic growth that contribute to an increase in the quality of life of all social and demographic groups of the population in conditions of economic dynamism. With this in mind, the concept of inclusive development does not presuppose the placement of priority determinants. Each of them (economic, social, institutional, etc.) is important and significant and cannot be mutually exclusive within the framework of the concept of inclusive economic growth.

This paradigm of forming a model of socio-economic development is being actively implemented in the Russian Federation. Despite the obvious achievements in this area, there are some shortcomings that are somewhat discordant with some of the principles of the inclusive development model. This, for example, finds expression in the increasing inequality in income of the population against the background of the advancing dynamics of economic growth (with the exception of crisis periods, expressed in the cyclical decline of the economy and the aggravating aspects of the sanctions order), disproportionate growth rates of real incomes relative to GDP dynamics, etc. All this creates risks of sustainable development of social, and, consequently, the economic sphere, in view of which the principles of inclusive economic growth are now largely beginning to be absolutized both in the expert and scientific community.

The recognition, at the level of federal and regional government authorities, of stimulating the development of an inclusive economic growth model is largely due to the understanding that inequality in the socio-economic development of the subjects of the Russian Federation, the increasing processes of income concentration in large megacities and regions developed in financial, industrial, scientific and technological terms, the widening income gap between the poor and a rich population leads to negative social consequences (an increase in crime, poverty, deterioration of health, a decrease in social cohesion and solidarity in society, localization of opportunities for the realization of talents) and, as a result, a slowdown in labor productivity, structural "distortions" in the economy and a decrease in economic growth as a whole.

In solidarity with the approaches of Russian and foreign researchers [8-11], the most important factor determining the prospects and intensity of the transition of socio-economic systems to an inclusive development model is scientific and technological progress and the externalities generated by it. The transition of the world economy at the beginning of the tenth years of the XXI century to a new technological way of life significantly contributed to the transformation of economic relations, the emergence and development of new markets, the restructuring of processes taking place in labor markets, which could not but affect the models of social relations, the growth of the quality of life – the main indicator of inclusive development of socio-economic systems.

Taking into account the deep integration of the Russian economy into the system of the world division of labor, the ongoing processes associated with scientific and technological progress could not but affect the processes of perturbation in the national socio-economic system. Globalization and technological changes have predetermined the transition from an industrial type of development to a post-industrial one, associated with the active growth of the service sector, creative industries, and high-tech spheres of activity in contrast to the traditional dominance of the manufacturing sectors of the economy. The labor market, reacting accordingly, began to show an increased demand for highly qualified workers, as a result of which signs of increasing structural unemployment and increasing wage discrepancy processes between different spheres of economic activity began to appear more and more actively (Table 1, Figure 1). Expressed in terms of the theory of inclusive growth, signs of inequality in the process of creating and redistributing the final product began to increase as a result of the formed distortions in the labor market.

 

Table 1 – Average monthly nominal accrued wages of employees of organizations by type of economic activity, rubles (in current prices) [12]

Type of economic activity

2005

2020

Ratio to the average wage level

2005

2020

Rural, forest

economy,

hunting, fishing

and fish farming

3841

34770

44,9

67,7

Activities in the field of

culture, sports,

leisure activities and

entertainment

5541

48445

64,8

94,3

Health and safety activities

social services

5927

49532

69,3

96,5

Scientific research

and developments

10991

84973

128,5

165,5

Education

5429

39563

63,5

77,0

Activities in the field of

information and communication

13453

85648

157,3

166,8

Wholesale and retail trade

retail; repair

motor vehicles

vehicles and motorcycles

6594

41867

77,1

81,5

Activity

professional,

scientific and

technical

13260

80077

155,0

155,9

Activity

administrative

and related

additional

services

6153

37090

71,9

72,2

Processing

productions

8373

46521

97,9

90,6

Activities on

operations with

immovable

property

7145

37628

83,5

73,3

Activity

financial

and insurance

22460

112680

262,5

219,4

State

management and

provision of military

safety;

social

provision

10955

54496

128,1

106,1

Construction

9095

44738

106,3

87,1

Transportation

and storage

10898

52939

127,4

103,1

Mining

fossils

19746

95 359

230,8

185,7

Provision

electric

energy, gas

and the ferry;

air conditioning

air

11328

53157

132,4

103,5

Activity

hotels and

enterprises

public

power supply

6036

27632

70,6

53,8

 

Figure 1 – The ratio of the level of wages in high-tech sectors of the economy and production, industrial spheres of activity, thousand rubles. (developed according to [12])

 

The presented data (Table 1, Figure 1) quite clearly "highlight" the patterns in the field of changes in the demand for labor in various sectors of the national economy in the conditions of a change in the technological structure. Industrial spheres of economic activity (mining, manufacturing, electric power, etc.) are beginning to show clear signs of lagging behind in terms of wage growth. At the same time, the sectors of the economy that are largely associated with the demand for highly qualified professions (research and development, public administration, information and communication activities, etc.) show outpacing dynamics in the growth of average monthly wages. In addition, the areas related to creative activity also receive a significant boost in the growth of the indicator under consideration.

It is also important to note the fact that the processes of interregional and international labor migration under the pressure of ongoing technological changes largely contributed to the growth of imbalance and spatial inequality in the paradigm of an inclusive model of economic growth. The concentration of labor resources began to form in large agglomerations, where scientific and technological markets and the service sector, including creative ones, are most developed (Figure 2). As a result, a number of traditional industrial sectors of the economy began to experience a shortage of labor, as a consequence of the insufficient effect of job replacement due to the outflow of workers to more marginal sectors of the economy and regions of concentration of highly qualified personnel.

Figure 2 – The leading regions of the Russian Federation in terms of labor force growth for the period from 2005 to 2020, an increase in thousands of people (Calculated according to [13])

 

To a large extent, the increase in the number of workers in these regions of the Russian Federation is due to the high concentration of knowledge-intensive industries and the intensive build-up of scientific and technological potential as a result of a significant orientation of state policy in these subjects to new technological development tracks in accordance with the basic principles and key technologies of the sixth technological order.

It is important to note that scientific and technological progress shows its impact not only in terms of perturbations in the labor market, but also in many other areas. And in many ways, NTR is undoubtedly the most important driver of the creation and subsequent use of technologies that ensure the implementation of the main principle of inclusive economic development – the comprehensive involvement of all social and demographic groups in the process of creating, distributing and redistributing the gross final product. The clearest example of the formation of positive externalities from the point of view of building an inclusive model of economic growth is the process of digital transformation, which actively absorbs the system of economic relations at the present stage of their development. This process contributes not only to the formation of new trends in the organization of economic relations, but also largely ensures the smoothing of structural distortions in the development of the labor market, by ensuring the emergence of new professions, localization of administrative barriers, improving channels of access to all kinds of markets, including labor markets and, as a result, determine the key parameters of inclusive development of economic systems. In other words, it contributes to the growth of the quality of life and the inclusion of various segments of society in the processes of socio-economic development.

Relying on the opinion of a large number of modern researchers, it can be argued with a high degree of confidence that the digital transformation of the socio-economic environment is today, in the era of the transition of the world economy to the sixth technological order, the most important factor ensuring the competitiveness and sustainability of the development of national and regional economic systems [14-17].

This is due to a number of reasons, the most important of which should include a series of key externalities being formed:

Effect 1. Increased efficiency in the public sector as a result of:

- increasing the speed of data exchange and decision-making;

- increase in the efficiency of the OGV;

- expanding the range of public services by creating additional opportunities for their provision through electronic services and remote maintenance;

- reduction of transaction costs, expressed in labor costs of time and resources;

- the growth of the quality of services rendered as a result of the creation of large amounts of information in digital form and their ordering;

- development of tools for citizens' feedback with public authorities;

and others .

Effect 2. Increased efficiency in the corporate sector as a result of:

- increasing competitive advantages within the framework of the implementation of the concept of flexible organization of business processes, taking into account dynamically adjusting factors of the external and internal environment and the growth of dynamic capabilities due to the automation of actions;

- optimization of information collection and processing processes;

- increasing the efficiency of economic and management processes and, as a result, increasing economic marginality;

- strengthening trust between the corporate sector and consumers of their products/services due to an adapted policy towards customers by providing all kinds of electronic services;

- automation of business relations with partners based on the use of ICT (for example, SMART contracts), which leads to a reduction in transaction costs and minimization of opportunistic behaviors;

- expanding the range of markets and market opportunities by "erasing" administrative barriers and borders;

- increasing the speed of communication between manufacturers and accelerating the creation of opportunities for cluster organization of business processes;

- creating conditions that stimulate the corporate sector to intensify process and product innovations;

- the growth of opportunities to attract capital through the creation of various kinds of electronic services (crowdfunding platforms, ICO, etc.)

and others .

Effect 3. Increased household efficiency as a result of:

- reducing restrictions on access to the labor market as a result of the development of various electronic platforms that provide job search, the possibility of integration into the system of corporate and public procurement (differentiation and diversification of the base of potential employers), expansion of product sales markets for self-employed workers;

- labor productivity growth as a result of elimination/minimization of administrative barriers, reduction of operational costs, minimization of time costs in the implementation of business operations within the framework of the development of electronic services;

- development of a system of continuous professional development and growth of competitiveness of households within the framework of electronic access to educational platforms;

- development of a feedback system with public authorities and, as a result, improvement of the quality of public services provided;

and others .

Returning to the subject of this study – inclusive economic growth of the region, as well as guided by the above argument about the importance of scientific and technological progress in the formation of socio-economic dynamics, it seems appropriate to conduct a formalized analysis of the impact of STD on the parameters of the formation of inclusive economic growth in regional socio-economic systems.

Methodically, the solution of this problem is based on neoclassical economic theory, where the construction of production functions acts as a fundamental tool for modeling economic dynamics. Neoclassical approaches to the construction of production functions are based on two key factors that trigger economic dynamics and influence the creation of the final product: labor (L) and capital (K). At the same time, this approach evolved in the future and led to the development of improved approaches to the study of economic dynamics. The most important, in our opinion, modification of the classical Cobb-Douglas model is the J. Tinbergen model [18]. Its main difference is that a component evaluating innovation activity in the economy has been added to the number of production factors. A similar position in the construction of the economic growth model was held by the American scientist R. Solow, who uses a factor in the production function that evaluates the level of scientific and technological progress as the most important parameter that intensifies economic dynamics [19].

In our opinion, given the high level of significance and relevance of such a productive factor at the present stage of economic development as "Scientific and Technological development", it is extremely important to focus the research field in this particular perspective. At the same time, the key difference of the developed model will be that the endogenous factor of the production function will not be a traditional indicator assessing macroeconomic dynamics (GDP), but a parameter reflecting the inclusive economic growth of the region. In addition, the regional aspect of the study will also characterize the distinctive features of the simulated function.

Relying on the presented approach, this study attempts to modernize the Cobb-Douglas production function, where the resulting element will be a parameter that evaluates inclusive economic growth in the context of the studied regional group. In general , the simulated production function has the following:

Y = A * La * K?* Iyy (formula 1)

where,

Y – index of inclusive economic growth of the region (IIGRE (Index of inclusive growth of the region's economy));

L – labor's contribution to GDP growth, billion rubles;

K - capital contribution to GDP growth, billion rubles;

I - the contribution of NTR to the growth of GRP, billion rubles.

The coefficients ?, ?, ? are elasticity parameters that demonstrate how much percent the IIGRE index will grow if the corresponding factor increases by 1%.

Following the proposed research algorithm, the most important task of constructing the desired production function is the assessment of the IIGRE index, which characterizes the dynamics of the parameters of inclusive economic growth in the region. Methodically, this problem is solved based on the use of the author's modeling tools of the index under study based on the modernization of the methodological approach proposed by the World Economic Forum [20].

In a concentrated form, the assessment process was carried out within the framework of constructing time series characterizing the dynamics of various indicators that assess the quantitative and qualitative parameters of the inclusive development of the region's economy in three key areas [21] (Table 2).

 

Table 2 - List of indicators used in the formalized assessment of the IIGRE index value

Name of the subindex

Indicator

Growth and Development (IIGRE 1)

GDP/GRP per capita;

Average annual number of employees

Life expectancy, years;

Labor productivity.

Inclusiveness (inclusion) (IIGRE 2)

Gini Coefficient;

Purchasing power of the population (the ratio of income to the value of the consumer basket)

The number of people with monetary incomes below the subsistence minimum;

Population Welfare Index*;

The average annual per capita monetary income of the population.

Equality of generations (I IIGRE 3)

Investments in fixed assets per capita;

Gross fixed capital accumulation;

Carbon intensity of the gross product (calculated as the ratio of carbon monoxide emissions to GRP);

Share of budget deficit/surplus in GRP;

Demographic burden on the able-bodied population

 

In accordance with the methodology under consideration, each of the three studied subindexes is evaluated on a seven–point scale (formula 2) [22], where the value 1 is the minimum value of the analyzed indicator, 7 is the maximum.

              (2)

 

For indices whose increasing value leads to a negative effect on regional dynamics, formula 3 is used.

 

-              (3)

 

The arithmetic mean sum of the obtained subindexes determines the integral value of the inclusive economic growth index of the region (IIGRE).

The practical use of the considered methodological tools in relation to the object of research – the Republic of Tatarstan, allowed us to obtain integral estimates of the IIGRE index. In concentrated form, the results for the period from 2010 to 2021 are presented in Figure 3.

Figure 3 - Assessment of the IIGRE index in the Republic of Tatarstan

(calculated by the authors)

 

The data obtained made it possible to proceed to the construction of the production function in accordance with the proposed research algorithm, which assumes the use of an indicator evaluating inclusive economic growth as an endogenous parameter.

Further, on the example of the Republic of Tatarstan, the main sequence of iterative actions and the construction of a production function in accordance with the parameters embedded in the model is presented.

The factors used in the production function are pre-normalized in order to unify them and allow an adequate comparison of their significance among themselves.

The following statistical data and simulated indicative values were used as the initial base (Table 3):

 

Table 3 – Values of factors used in the construction of the production function for the Republic of Tatarstan (compiled according to EMISS [13]

Year

IIGRE*

Number of employees, thousand people (L)

Availability of fixed assets at the end of the year at full book value for a full range of organizations, million rubles (K)

R&D expenses, expenses of organizations on technological innovations, million rubles (I)

2010

4,01

1 899,25

2 526 863

14351,1

2011

4,13

1 939,86

3 461 464

44166,4

2012

4,1

1 966,29

3 110 418

38101,0

2013

4,05

1 961,40

3 342 559

64436,5

2014

4,12

1 975,90

3 431 206

95720,7

2015

4,09

1 980,20

3 921 931

53353,8

2016

4,13

1 980,80

4 256 272

57571,1

2017

4,14

1 968,20

4 658 900

78404,6

2018

4,15

1 963,50

5 033 940

126908,4

2019

4,2

1 964,60

9 066 898

107097,7

2020

4,28

1 948,10

9 232 012

147733,3

2021

4,21

1974,0

9397126**

126909,4**

* the index values are calculated by the authors according to [10]

** evaluation

 

At the first stage of calculations, the normalized data series (L, K, I) used, included as exogenous parameters in the constructed production function for the Republic of Tatarstan, were prologarithmed in order to transition to the linear form of the modeled function (Table 4).

 

Table 4 - Logarithmic values of exogenous factors of the production function

Year

Ln IIGRE

LnL

LnK

LnI

2010

-0,1863050

-0,1852812

-0,6550846

-0,9506623

2011

-0,1776025

-0,1790699

-0,5154516

-0,5979869

2012

-0,1797481

-0,1751146

-0,5651481

-0,6607788

2013

-0,1833684

-0,1758413

-0,5319223

-0,4186255

2014

-0,1783155

-0,1736933

-0,5196081

-0,2232857

2015

-0,1804677

-0,1730603

-0,4550856

-0,5110441

2016

-0,1776025

-0,1729721

-0,4145625

-0,4743133

2017

-0,1768917

-0,1748314

-0,3693117

-0,3201848

2018

-0,1761831

-0,1755289

-0,3305133

-0,1067990

2019

-0,1726729

-0,1753655

-0,0792786

-0,1779867

2020

-0,1671695

-0,1778295

-0,0740127

-0,1491052

2021

-0,1771997

-0,1884993

-0,0784535

-0,1580515

 

At the next stage, the logarithmic values obtained served as the basis for a regression analysis, where the exogenous factors studied were used as explanatory parameters, and the index of inclusive economic growth of the region was used as an explanatory one. The results obtained, estimating the statistical significance of the equation, indicate its high level (R2 = 0.86, parameters estimating P-values do not exceed the required level of 0.05, t-statistics correspond to the tabular value of the normal distribution) (Table 5).

 

Table 5 - Regression statistics

Multiple R

0,921125

R-square

0,8324581

Normalized R-square

0,762108

Standard error

0,002051

Observations

12

 

The resulting equation has the form:

Ln IIGRE = -0,157+0,144LnL+0,217LnK+0,192LnI    (4)

By converting the resulting equation from a logarithmic form into a power function, the following equation is constructed:

Y = 1,15*L0.144*K0,217*I0,192      (5)

The following key conclusion follows from the obtained model: the role of scientific and technological development as a productive factor in the system of organizing inclusive economic growth is comparable to traditional factors of production (labor, capital). Moreover, for the region considered here as an example, the Republic of Tatarstan, the value of this parameter (elasticity coefficient) is even slightly higher than such a factor as "The number of people employed in the economy". According to the results obtained, an increase in the I index characterizing scientific and technological progress by 1% leads to an increase in the IIGRE index of the region by 0.19%, which slightly exceeds the sensitivity parameter characteristic of factor L. This indicates a noticeable level of sensitivity of the inclusive economic growth model to the processes of STD activation.

The result obtained is quite explicable by the trends of the processes of diffusion of the Fourth Industrial Revolution (4PR) into the system of economic relations both at the global and national and regional levels. Considering that any industrial revolution generates a transformation in the labor market, as a rule in favor of reducing the demand for labor, the 4PR that began in the 21st century led to further changes and redistributions between productive factors. The role of suppliers of capital and scientific and technical products (both physical and intangible, cognitive) is beginning to acquire an almost comprehensive character against the background of the decline in the role of labor [23, 24]. This thesis fits quite logically into the result obtained, indicating the significant positions of the analyzed factor I (characterizing the processes of intensification in the region of scientific and technological progress). In other words, the NTR of the ecosystem of the region significantly determines the parameters and prospects for the formation and expansion of inclusive economic growth while reducing the importance of the factor of employment of the population.

It should be noted that in many respects the obtained conclusion correlates with traditional neoclassical models and functions constructed in the middle of the XX century by leading economists-scientists. So, for example, in his work "Contribution to the Theory of Economic Growth", Nobel laureate R. Solow [19] convincingly proved the need for the development of human capital and the knowledge economy as the most important factors ensuring economic growth. The scientist proved, within the framework of the implemented empirical assessments, on the example of the US economy of the 20th century, that more than 75% of the dynamics of economic growth in that historical period was provided by the NTP. Subsequently, these conclusions were developed, which was reflected in the emergence of the theory of endogenous economic growth, the founders of which are considered to be R. Lucas [25] and P. Romer [26]. Scientists also absolutely categorically prove the importance of scientific and technological progress in ensuring the growth of labor productivity and economic growth in general.

At the same time, the key difference of the production function proposed in this paper is the object of research, which is not economic growth in its traditional sense (increasing the dynamics of GDP), but inclusive. The desire to expand the research framework and adapt it to new trends and trends in science, which without any doubt should include the developing theory of inclusive development of socio-economic systems as the most promising in the post-industrial globalized economy, provides an opportunity to create and build new macroeconomic models that are most adapted to new realities and ongoing systemic transformations.

In conclusion, based on the results of the assessments, it should be noted that modern economic conditions, expressed in the growth of global competitiveness of economic relations, changes in the structure-forming productive factors under the pressure of technological shifts, predetermine the need to increase investments in the scientific and technological sector. As it has been demonstrated, it acts as the most important productive factor in the intensification of an inclusive model of economic growth. Undoubtedly, scientific and technological progress is not a panacea in the search for mechanisms to stimulate an inclusive model for the development of regional systems. At the same time, along with other important areas, such as administrative and institutional reforms, it is now becoming a number of priority areas and development mechanisms. In a special way, the role of this factor is actualized in the conditions of immersion into a new geopolitical reality with all its attributes of an acute phase of confrontation with a number of countries of the Western world, which determines the need to ensure technological sovereignty in order to intensify economic growth, improve the quality of life, social stability, which refers to the key components of an inclusive development model. The latter, in turn, proclaims the need to eliminate inequality and maximize the involvement of all social and demographic groups in the process of creating and distributing the final gross product, and, consequently, determines the sustainability of the development of socio-economic systems as a whole.

The present work should be considered as an attempt to develop meaningful support for the study of the concept of inclusive economic growth. Undoubtedly, it would not be true to assert that the estimates and conclusions obtained and the contour solutions proposed in it are non-controversial. Nevertheless, the methodological tools proposed here are able to somewhat expand the research models of inclusive economic growth and outline ways to solve topical issues in the field of ensuring the sustainable development of regional economic systems in the new reality.

References
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First Peer Review

Peer reviewers' evaluations remain confidential and are not disclosed to the public. Only external reviews, authorized for publication by the article's author(s), are made public. Typically, these final reviews are conducted after the manuscript's revision. Adhering to our double-blind review policy, the reviewer's identity is kept confidential.
The list of publisher reviewers can be found here.

The aim of the study is to evaluate the IIGRE index of the Republic of Tatarstan, which characterizes the dynamics of the parameters of inclusive economic growth in the region. The accelerated development of information technologies, widespread digitalization and the rapid transition to the digital economy in the last few years have shifted the scientific field of research into the impact of the factor of scientific and technological development, as productive (at the same level), on the activities of regional subjects of the Russian Federation with renewed vigor. Modern theoretical scientists have long established a positive relationship between these processes in the context of the fourth industrial revolution. Meanwhile, it is necessary to note the weak descriptive and instrumental base of the mechanisms underlying this relationship, especially with regard to domestic developments. Thus, the relevance of the article is related to filling this scientific gap, and it will also be in demand for current representatives of regional authorities responsible for the socio-economic development and promotion of the region in Russia and in the world as a whole. The methodological basis of the research consists of the following methods of scientific cognition: the hypothetical-deductive method, mathematical modeling, including correlation analysis and the least squares method. The appeal to the opponents is presented in due volume, the list of references contains a sufficient number of sources (twenty-three publications, almost half of them from foreign authors). The scientific novelty consists in presenting the author's concept of inclusive economic growth from the point of view of comparing scientific and technological progress at the regional level. The material of the article is structured in accordance with internal logic, at the end of the article not only conclusions for the scientific community are presented, but also the results of comparing the proposed hypothesis with the scientific works of other scientists are presented. The style of the article is scientific, at the same time, the article is written in a language understandable to readers. The reviewer has some comments and suggestions: 1. Graphic and tabular materials are designed carelessly. So, Table 1 is displayed incorrectly in the article, signatures are "chopped off" in Figure 1, Figure 3 must be presented in color. 2. The authors need to carefully check the article for grammatical, punctuation and stylistic errors and typos that occur in the text: "fvktors", in addition there are extra characters "].". At the beginning of one of the sentences. 3. The classifier of the article mistakenly indicates "Biological Sciences". The work does not fully meet the requirements for scientific research, but it is written on an urgent topic that will receive a response among the readership, and can be recommended for publication in the scientific journal Finance and Management after revision and elimination of the submitted comments. Most of the comments are of a design nature.

Second Peer Review

Peer reviewers' evaluations remain confidential and are not disclosed to the public. Only external reviews, authorized for publication by the article's author(s), are made public. Typically, these final reviews are conducted after the manuscript's revision. Adhering to our double-blind review policy, the reviewer's identity is kept confidential.
The list of publisher reviewers can be found here.

The subject of the study. Based on the topic of the scientific article, its content should be devoted to the study of scientific and technological progress and its role in ensuring inclusive economic growth in the region (using the example of the Republic of Tatarstan). The content of the article is broader than the formed title, including other regions of the Volga Federal District. Research methodology. The author uses general scientific methods (comparison, synthesis, analysis), as well as special economic and mathematical methods (index method (the integral value of the index of inclusive economic growth of the region is calculated), the construction of the production function). At the same time, the data used for the calculation is limited to 2020. Firstly, it is correct to take 2020 for analysis, given the coronavirus pandemic (it is necessary to assess this possibility in the text), and secondly, it is recommended to supplement it with 2021. The relevance of the study is due to the need to ensure the socio-economic development of the Russian Federation on an innovative basis, which is fixed by the national development goals of the Russian Federation for the period up to 2030, implemented by state programs of the Russian Federation (for example, the state program of the Russian Federation "Economic development and innovative economy"). At the same time, the development of a federal state is possible only with the implementation of an appropriate state policy at the regional level, on the implementation of which the level of spatial development of the Russian Federation depends, the achievement of high values of which is fixed by the Spatial Development Strategy of the Russian Federation until 2025. The scientific novelty of the research is due to the author's approach to assessing scientific and technological progress and its role in ensuring inclusive economic growth in the region. These methods and calculation results can be used in the practical activities of public authorities of both the Russian Federation (including in the distribution of subsidies and other inter-budgetary transfers within the framework of the implementation of state programs of the Russian Federation) and the subjects of the Russian Federation. Style, structure, content. The style of presentation is scientific. The structure of the article, on the one hand, is not clearly indicated by the author, but, on the other hand, on the whole, the text is presented consistently: a description of the subject of the study (including terminological aspects) is given, the main part of the study is presented (including calculations justifying the author's position and discussion of the results with the results of research by other authors). At the same time, based on the results of the conducted research, it is also recommended to clearly formulate existing problems and justify recommendations for their solution, including taking into account modern socio-economic conditions. Bibliography. The list of references includes both domestic and foreign publications, but the scientific literature of 2020-2022 has not been studied, including those taking into account the adjustment of vectors of socio-economic development of states in connection with the pandemic of coronavirus infection. It is recommended to eliminate this remark, including in terms of reviewing these sources and specifying in the text the specifics of the impact of these processes on the results of the study. Appeal to opponents. A notable advantage of this scientific article is the presence of a scientific discussion with other authors who study the problems raised in the text (both in terms of terminology and in terms of the scientific results obtained). Conclusions, the interest of the readership. Taking into account all the above, it is necessary to note the author's responsible attitude to conducting scientific research, taking into account the use of a wide range of research methods (including special economic and mathematical ones), a significant period of research (2010-2020). However, correcting a scientific article based on the comments given in the text of the review will seriously increase its level of demand among more a wide range of people . Potentially, it may be of interest to specialists of public authorities of the Russian Federation, public authorities of constituent entities of the Russian Federation, financial analysts (primarily those involved in the development of public finance and spatial development of the Russian Federation), the scientific community.

Third Peer Review

Peer reviewers' evaluations remain confidential and are not disclosed to the public. Only external reviews, authorized for publication by the article's author(s), are made public. Typically, these final reviews are conducted after the manuscript's revision. Adhering to our double-blind review policy, the reviewer's identity is kept confidential.
The list of publisher reviewers can be found here.

The article submitted for review examines the issues of scientific and technological progress and its role in ensuring inclusive economic growth of the Republic of Tatarstan. The research methodology is based on the provisions of neoclassical economic theory, mathematical statistics and econometrics, the construction and application of production functions. The relevance of the work is associated with the need to understand in modern conditions that balanced development implies a combination of economic growth with opportunities for prosperity and increasing the well-being of all segments of society and their integration into the system of non-discriminatory distribution of the final product. The scientific novelty of the reviewed study, according to the reviewer, consists in the proposed methodological tools aimed at expanding the research model of inclusive economic growth and identifying ways to solve topical issues in the field of ensuring the sustainable development of regional economic systems in a new reality. The authors understand inclusive economic growth as long-term economic growth in all its sectors and spheres in a strict combination of poverty reduction and employment growth for the vast majority of social and demographic groups of the population, note certain disadvantages that are somewhat dissonant with the principles of an inclusive development model: increasing income inequality against the background of outpacing economic growth dynamics, disproportionate growth rates of real the income of the population relative to the dynamics of GDP, etc. This leads to the formation of risks for the sustainable development of the social and economic sphere. The article draws attention to the signs of inequality in the process of creating and redistributing the final product as a result of the formed distortions in the labor market, provides data on the average monthly nominal accrued wages of employees of organizations by type of economic activity, the ratio of wages in high-tech sectors of the economy and manufacturing, industrial spheres of activity. The sectors of the economy associated with the demand for highly qualified professions (scientific research and development, public administration, information and communication activities, etc.) show outpacing dynamics in the growth of average monthly wages. The authors consider the leading regions of the Russian Federation in terms of labor force growth over the period from 2005 to 2020, highlight Moscow, the Moscow region of St. Petersburg and the Krasnodar Territory in this parameter. The article attempts to modernize the Cobb-Douglas production function, analyzes the factors used in constructing the production function for the Republic of Tatarstan, and develops a mathematical model based on the use of correlation and regression analysis methods. The bibliographic list includes 26 sources – publications of domestic and foreign scientists on the topic of the article. The text contains targeted references to literary sources confirming the existence of an appeal to opponents. The following points should be noted as comments. Firstly, the text of the article is not structured properly, it does not highlight the sections generally accepted in modern journal publications, such as: introduction, material and methods, results and their discussion, conclusion (or conclusions). Secondly, to modernize the Cobb-Douglas production function, the authors try to apply elasticity coefficients reflecting how many percent the index will grow with an increase in the corresponding factor by 1%, however, the factors themselves are presented in absolute units, and it is not clear how the transition to measuring the index of inclusive economic growth of the region will be carried out – it seems that clarifications or clarifications are required here. Thirdly, the numbering of the formulas is performed with a deviation from the generally accepted rules. The reviewed material corresponds to the direction of the journal "Finance and Management", has been prepared on an urgent topic, contains theoretical justifications, elements of scientific novelty and practical significance. The presented material contains generalizations of modern ideas about inclusive economic growth, reflects the results of the analysis of economic data at the federal and regional levels, may arouse interest among readers, and is recommended for publication after some revision in accordance with the comment made.