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Digital Economy and Multiplier Effects

The article is devoted to the analysis of a specific aspect of the digital economy influence on the dynamics of economic growth, namely, the analysis of the multiplier effects generated by the digital economy. The article analyzes the positive and negative aspects of the digitalization impact on the dynamics of modern macroeconomic development. Attention is focused on the fact that the vast majority of these aspects have already been identified and studied. While researchers pay insufficient attention to the multiplier effects of economic digitalization. It is shown that the relevance of these effects study is determined by the fact that, along with the strengthening of the country’s economic development processes, these effects can generate a shortage of resources and inflation. Consequently, multiplier effects require consideration in economic digitalization projects. Consideration should be supplemented with an active influence on the trajectory of the investment projects implementation through a change in the value of the investment multiplier. The purpose of this article is to analyze the positive and negative multiplier effects generated by modern processes of macroeconomic digitalization. The article clarifies the mechanism of action of the investment multiplier through the formation of multiplicative chains based on the transformation of the expenses of some their participants into the income of others. The positive and negative directions of the influence of digitalization on the dynamics of the investment multiplier are characterized. It is concluded that the positive impact generated as part of the digitalization of the world economy on the value of the investment multiplier prevails over the negative ones. The results obtained are confirmed by statistical data characterizing the multiplier effects of the digital economy in different countries of the world. It is noted that certain concerns remain regarding the negative impact of digitalization on multiplier effects through its impact on the labor market. Read more...

Application of Multiplicative Effects to Manage the Formation of the Region’s Resource Potential

The article is devoted to the analysis of multiplier effects generated as part of the formation of the resource potential of the region. The relevance of the study is due to the need for the development of Russian regions in the difficult conditions of the modern economy. The new challenges for the Russian economy that have emerged in 2022 necessitate the search for new approaches to overcoming them. One of these approaches is proposed in this article the use of an investment multiplier to influence the process of forming the resource potential of the region. The research carried out in the article showed that the effect of the investment multiplier can have both a stimulating and a restraining effect on this process. Changing the volume of this influence will make it possible to manage the formation of regional resource potential. To implement this proposal in practice, it is necessary to manage the value of the regional investment multiplier. As a basis for such a management system, the article proposes a model that formalizes the multiplicative process, taking into account the stages of its distribution in the regional economy. Results: based on the proposed author’s model, the values of investment multipliers for the Nizhny Novgorod and Novgorod economies were calculated. The obtained multiplier values were compared with the structure of the economies of the analyzed regions. A conclusion is made about the practical possibility of influencing the value of the regional investment multiplier through influencing the parameters of the multiplicative process and changing the structure of the regional economy. Read more...

The Multiplicative Effect of the Resource Potential Formation on the Value of the Gross Regional Product

The article is devoted to the analysis of the impact that changes in the structure of investments in the formation of the resource potential of regional economic sectors have on the value of the regional investment multiplier and, as a consequence, the gross regional product. The article presents an analysis based on the influence of different types of production on the value of the regional investment multiplier. A model is proposed that formalizes the dependence of the regional investment multiplier value on the structure of investment distribution in the formation of the resource potential of different types of production by the regional economy. It is concluded that changes in the investment structure, all other things being equal, can lead to an additional increase in the value of the gross regional product (­GRP). At the regional level, this will increase the competitiveness of the region’s economy by increasing the efficiency of resource use. At the national level, additional stimulation of regional ­GRP’s growth will lead to growth of gross domestic product (­GDP). The relevance of research related to the analysis of directions for increasing the efficiency of using regional resources increases in the context of a shortage of these resources (labor, financial) in the modern Russian economy. The work uses methods of econometric analysis. The practical significance of the work is that the model proposed in it can be used to develop economic policies aimed at increasing the competitiveness of regional economies, as well as increasing ­GDP. The use of the results obtained in the study will improve the efficiency of the functioning of the Russian Federation regions economies. Read more...