Innovative Industrial Development of the Oil and Gas Region Based on Effective Budgetary Policy and Tax Administration Strategies

Highly profitable oil and gas companies are key taxpayers in the federal and regional budgets. The purpose of this study is to develop a flowchart of priority conditions and prospective results for the innovative development of oil and gas regions in the Volga Federal District. The framework is based on effective budget policy and tax administration strategies. Institutional mechanisms for improving the financial performance of developing a changing resource base and hardtop-recover oil reserves are examined. The innovation-based resource path of industrial development in the region is examined. Issues of technological sovereignty and the transition to a new industrial paradigm are analyzed. Particular attention is paid to financial innovation, concession agreements, and the policies of subfederal public-law entities. A regression analysis of the dynamics of the percentage component of tax deductions to the regional consolidated budget is conducted. Taxes on profits, personal income, and property of organizations in oil and gas regions are examined. A statistical analysis was conducted of the level of innovation activity, the share of organizations implementing technological innovations, innovation expenditures, and the volume of innovative goods, works, and services in oil and gas regions. The results of the study are presented as an equilibrium system of interdependent input and output, direct and intermediate elements of a flowchart for the innovative development of an oil and gas region. The diagram is based on budget policy and tax administration strategies.

1. Kryukov V. A., Tokarev A. N. Opportunities for the development of Tyumen oblast based on innovations for the oil and gas sector, production of high-tech equipment, and high-tech services. Regional Research of Russia. 2024;14(1):77-85. DOI: 10.1134/S2079970523600373

2. Kryukov V. A., Tokarev A. N. Creation of conditions for the development of hard-to-recover oil reserves: Regional aspects. Ekonomika regiona = Economy of Regions. 2022;18(3):755-769. (In Russ.). DOI: 10.17059/ekon.reg.2022-3-10

3. Loseva O. V., Munerman I. V., Fedotova M. A. Assessment and classification models of regional investment projects implemented through concession agreements. Ekonomika regiona = Economy of Regions. 2024;20(1):276-292. (In Russ.). DOI: 10.17059/ekon.reg.2024-1-19

4. Kosorukova I. V., Loseva O. V., Fedotova M. A. Screening-evaluation of regional investment projects for the provision of state financial support measures. Finance: Theory and Practice. 2024;28(2):23-39. DOI: 10.26794/2587-5671-2024-28-2-23-39

5. Bodrunov S. D. Industrial policy of Russia in the face of challenges of global transformation: Tasks of the theory and practice of transition to a new stage of industrial development (NIS.2). Ekonomicheskoe vozrozhdenie Rossii = Economic Revival of Russia. 2023;(2):5-12. (In Russ.). DOI: 10.37930/1990-9780-2023-2(76)-5-12

6. Golovnin M. Yu. Financial risks for global economy in the short term. Nauchnye trudy Vol’nogo ekonomicheskogo obshchestva Rossii = Scientific Works of the Free Economic Society of Russia. 2023;239(1):365-378. (In Russ.). DOI: 10.38197/2072-2060-2023-239-1-365-378

7. Krinichansky K. V., Rubtsov B. B. Financial sector regulation on the agenda of economic policy reforms. Finance: Theory and Practice. 2022;26(5):6-21. DOI: 10.26794/2587-5671-2022-26-5-6-21

8. Gurvich E. T., Krasnopeeva N. A. Analysis of tax-spend nexus for Russian regional budgets. Voprosy ekonomiki. 2020;(2):5-29. (In Russ.). DOI: 10.32609/0042-8736-2020-2-5-29

9. Kabir L. S., Sigova M. V., Klioutchnikov I. K. Sustainable development financing: New risks and adaptation opportunities for financial market participants. Nauchnye trudy Vol’nogo ekonomicheskogo obshchestva Rossii = Scientific Works of the Free Economic Society of Russia. 2023;242(4):195-218. (In Russ.). DOI: 10.38197/2072-2060-2023-242-4-195-218

10. Kabir L. S., Yakovlev I. A., Rakov I. D. Sustainable development and “green” economy: Global trends and regional solutions. Ekonomika Severo-Zapada: problemy i perspektivy razvitiya = Economy of the North-West: Issues and Prospects of Development. 2022;(1):81-91. (In Russ.). DOI: 10.52897/2411-4588-2022-1-81-91

11. Lavrikova Yu.G., Andreeva E. L., Ratner A. V. Development factors of region’s foreign economic activity in the context of global challenges. Ekonomika regiona = Economy of Regions. 2021;17(2):688-712. (In Russ.). DOI: 10.17059/ekon.reg.2021-2-24

12. Klimanov V. V., Kazakova S. M. Debt policy for the sustainable development of Russian regions and megacities. R-Economy. 2022;8(4):327-339. DOI: 10.15826/recon.2022.8.4.025

13. Malkina M. Yu., Balakin R. V. Impact of external shocks on tax revenue stress in Russian regions. Regional Research of Russia. 2024;14(1):1-13. DOI: 10.1134/S2079970523600361

14. Malkina M. Yu., Balakin R. V. Assessment of the level and structure of stress in tax revenues of the federal and regional budgets. R-Economy. 2023;9(4):405-421. DOI: 10.15826/recon.2023.9.4.025

15. Lymar M. S., Reentovich A. A., Sinyakov A. A. A commodity exporting economy under “the new reality”: Aggregate and structural changes. Voprosy ekonomiki. 2022;(12):44-71. (In Russ.). DOI: 10.32609/0042-8736-2022-12-44-71

16. Kartaev P. S., Medvedev I. D. Monetary policy and the effect of the transfer of oil prices to inflation. Voprosy ekonomiki. 2020;(8):41-50. (In Russ.). DOI: 10.32609/0042-8736-2020-8-41-50

17. Kartaev P. S., Polunin K. E. Does the investment climate rating influence the economic development of the region? Voprosy ekonomiki. 2019;(5):90-102. (In Russ.). DOI: 10.32609/0042-8736-2019-5-90-102

18. Andersen А. D., Marin А., Simensen Е. O. Innovation in natural resource-based industries: A pathway to development? Introduction to special issue. Innovation and Development. 2018;8(1):1-27. DOI: 10.1080/2157930X.2018.1439293

19. Boschma R., Martin V., Minondo A. Neighbour regions as the source of new industries. Papers in Regional Science. 2017;96(2):227-246. DOI: 10.1111/pirs.12215

20. Breul M., Atienza M. Extractive industries and regional diversification: A multidimensional framework for diversification in mining regions. The Extractive Industries and Society. 2022;11:101125. DOI: 10.1016/j.exis.2022.101125