Journal of Management Information and Decision Sciences (Print ISSN: 1524-7252; Online ISSN: 1532-5806)

Abstract

Modeling the influence of innovative factors on sustainable development of regions in the context of digitalization

Author(s): Tulchynska, S., Popelo, O., Garafonova, O., Yaroshenko, I., & Semyhulina, I.

Within the article, it is proposed to determine the impact of innovative factors on the development of regional economic systems in digital economy due to the developed methodological approach to determine the impact based on the use of the nonlinear dynamics model. To obtain more accurate results of the nonlinear dynamics model, the 4th order Runge-Kutta method was used, which minimizes the error in the calculations and makes it possible to obtain more accurate solutions of differential equations. Attractors were constructed to visualize the obtained solutions of the nonlinear dynamics model. The obtained parameters of dynamic changes make it possible to establish the rate of change of the studied functions of the development of regional economic systems in terms of digitalization, and to identify the most optimal parameters for managing the development of regional economic systems under the influence of innovative factors.

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