Prospects of Russian regions for the transition to a new technological order

Abstract

The article presents the analysis of Russia’s potential to transition to a new technological order. The potential assessment was carried out on the basis of the obtained level of manufacturability in the Cobb—Douglas production function as an indicator reflecting long-term technological trends, the available resource potential, the efficiency of its use and the country’s ability to transition to a new technological order. The conducted research has shown that since 2014, the country has been undergoing a restructuring of the level of technology, caused by a decrease in the return on capital against the background of a stretched process of innovation in the economy. One of the limitations hindering the successful transition to a new technological order is regional differentiation in the level of technology, which can be explained by the excessive accumulation of old technologies and the discrepancy in the skill level of the workforce, as well as significant differences in the level of knowledge and skills among regions.