Modern Regions on a Path of Sustainable Development: Financial Support of Industry 4.0 as the Basis of Environmental Safety

Svetlana V. Lobova (), Aleksei V. Bogoviz () and Alexander N. Alekseev ()
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Svetlana V. Lobova: Altai State University
Aleksei V. Bogoviz: Independent Researcher
Alexander N. Alekseev: Plekhanov Russian University of Economics

Chapter Chapter 13 in Industry 4.0, 2021, pp 151-159 from Springer

Abstract: Abstract Purpose: The purpose of this work is to study the experience of sustainable development of modern Russian regions and to identify the optimal financial support of Industry 4.0 as the basis for environmental safety of various types of regions. Design/methodology/approach: In order to study the experience of regions of different types, a typology of the regions of Russia is used according to the criterion of the level and pace of socio-economic development. For each type of region, using the regression analysis method, the contribution of private investment and government costs to the financial support of Industry 4.0 to ensuring the environmental safety of the regions of Russia in 2020 is determined. Based on the regression equations, the optimal ratio of private investment and government costs for the financial support of Industry 4.0 is determined, which allows ensuring the environmental safety of the regions of Russia. Findings: Due to the optimization of industry financing 4.0, the level of environmental safety in the “paratroopers” regions increases by 72.04%, in the “rockets” regions by 15.09%, in the “racers” regions by 8.85%, and in the “turtle” regions by 70.94%. Originality/value: It has been proven that in different types of regions, sustainable development in terms of environmental safety requires a specific optimal ratio of private investment to public spending on Industry 4.0. Recommendations on optimizing the financial support of Industry 4.0 in the interests of environmental safety are proposed for all selected types of regions of Russia. The experience of the regions of Russia can be useful for the regions of other countries of the world, provided that they are similarly typologized according to the criterion of the level and pace of socio-economic development.

Keywords: Modern regions; Sustainable development; Financial support; Industry 4.0; Environmental safety; Regions of Russia; Q01; Q51; Q52; Q53; Q54; Q55; Q56; Q57; Q58; O31; O32; O33; O38 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-75405-1_13

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DOI: 10.1007/978-3-030-75405-1_13

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