Organizational and economic mechanism for ensuring regional economic security in the context of digital transformation

Digital economy: theory and practice
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Abstract:

Attention to the organizational and economic mechanism for ensuring regional economic security is driven by the need for systemic integration of traditional economic security tools and modern digital technologies into the economy of a constituent entity of the federation. This will create a positive synergistic effect in ensuring the territory’s economic security, impart a holistic and permanently implemented character to this process, and also make it possible to scale this experience to other regions. The aim of this study is to develop an organizational and economic mechanism for ensuring regional economic security, operating within a public-private digital ecosystem. During the study, a comparative analysis of the scientific literature was conducted, which made it possible to form a resource-terminological base for this organizational and economic mechanism. According to the developed definition, the organizational and economic mechanism for ensuring regional economic security is a set of strategic, economic, informational, organizational, legal, institutional, and other instruments, provided with the necessary resources and united by cause-and-effect and functional relationships, performing their functions in the physical and digital dimensions, and organized within a public-private digital ecosystem that ensures the harmonized implementation of state, corporate, and public interests, resulting in the creation of value propositions for all participants in the mechanism. A distinctive feature of the proposed definition of the organizational and economic mechanism for ensuring the economic security of a region is the substantiation of its functioning based on a public-private digital ecosystem, which improves the quality of information processing and the operational, tactical, and strategic management decisions made on its basis, monitors the effectiveness and quality of these decisions' implementation, and reduces the response time for neutralizing challenges and threats to the region’s economic security. This paper presents graphical modeling of the organizational and economic mechanism for ensuring the region’s economic security. The proposed model incorporates principles and participants, including governing bodies, objects, functions, resources, tools, value propositions and effects, as well as digital technologies integrated into the public-private digital ecosystem. The positive effects of involvement in the ecosystem for corporate participants (search for counterparties, additional utilization of production capacities, project management, optimization of business processes, cost reduction) will enable the monetization of the organizational and economic mechanism.