Economic Growth vs. Ecological Safety: Financial Consequences of the Transition to Industry 4.0 for Russia’s Regions

Galina N. Semenova (), Mariana H. Barcho, Marina N. Rudenko () and Olga A. Ageeva ()
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Galina N. Semenova: Plekhanov Russian University of Economics
Mariana H. Barcho: Kuban State Agrarian University named after I.T. Trubilin
Marina N. Rudenko: Perm State National Research University
Olga A. Ageeva: State University of Management

Chapter Chapter 36 in Industry 4.0, 2021, pp 405-412 from Springer

Abstract: Abstract Purpose: The purpose of this chapter is to form a systemic vision of the transition to Industry 4.0 from the positions of its influence on economic growth, ecological safety, and corporate finances in the context of the COVID-19 crisis and pandemic in 2020 by the example of Russia’s regions. Design/methodology/approach: The authors determine regression dependencies: the change of business’s income in March–May 2020, ecological safety index, and economic growth rate (growth of GRP) on the digitalization level as the indicator of completion of the transition to Industry 4.0. Findings: It is proved that Industry 4.0 does not imply vivid risks (though it is, of course, leads to certain risks) and, instead, creates advantages for economic growth (increase by five times), ecological safety (+14.09%), and entrepreneurship’s finances (+304.26%). Originality/value: By the example of top 10 regions of Russia by the level of financial manifestations of the COVID-19 pandemic and crisis in 2020, it is shown that transition to Industry 4.0 allows for full overcoming of all crisis phenomena in the regional economy. That’s why it is recommended—in the post-pandemic period—to concentrate efforts on stimulation of the rapid transition of Russia’s regional economy to Industry 4.0.

Keywords: Economic growth; Ecological safety; Entrepreneurship’s finances; Industry 4.0; Russia’s regions; Pandemic; Post-pandemic period; 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_36

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DOI: 10.1007/978-3-030-75405-1_36

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