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Financial Provision of Energy Security of Regional Economy in Transition to Industry 4.0

In: Industry 4.0

Author

Listed:
  • Vladimir S. Osipov

    (Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation)

  • Murat A. Bulgarov

    (Kuban State Agrarian University Named After I.T. Trubilin)

  • Oleg F. Krivtsov

    (Russian University of Transport)

  • Sergei G. Vagin

    (MIREA—Russian Technological University)

Abstract

Purpose: The purpose of the article is to study the experience and prospects of financial support for the energy security of the regional economy in the transition to Industry 4.0 in modern Russia. Design/methodology/approach: In order to test the hypothesis put forward, the article uses the methodology of economic statistics, using which regression models of financial support for energy security of regions are compiled in the transition to Industry 4.0 in Russia. In order to determine the prospects for the implementation of copyright recommendations, a variation analysis is being carried out. Findings: It has been proved that with the highest level of digitalization (100 points, + 142.67%) in the regions of Russia, an annual reduction in energy consumption can reach 18.66% (+ 278.02%), which will ensure complete energy safety. Financial support involves increasing investments in fixed assets per capita, increasing the balanced financial result of enterprises, and increasing the balance of the regional budget. Originality/value: On the example of the regions of Russia, a model of systemic digitalization covering the energy sector has been demonstrated, in which the 4.0 Industry is extended to the entire economy (the hypothesis is confirmed). For development of “smart” energy (Smart Grid) and ensuring energy security requirements for financial security of the Industry 4.0 in 2021, achievement probability in which practice is moderately high is recommended.

Suggested Citation

  • Vladimir S. Osipov & Murat A. Bulgarov & Oleg F. Krivtsov & Sergei G. Vagin, 2021. "Financial Provision of Energy Security of Regional Economy in Transition to Industry 4.0," Springer Books, in: Elena B. Zavyalova & Elena G. Popkova (ed.), Industry 4.0, chapter 0, pages 389-396, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-75405-1_34
    DOI: 10.1007/978-3-030-75405-1_34
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