Title: Hi-tech production based on intelligent machines in emerging economies in Industry 4.0: a source of new quality of economic growth or a path to socio-economic crisis

Authors: Anastasiya A. Sozinova; Ekaterina N. Ilyina; Larisa V. Shabaltina; Emil Velinov; Larisa V. Popova

Addresses: Vyatka State University, Kirov, Russia ' Vyatka State University, Kirov, Russia ' Plekhanov Russian University of Economics, Moscow, Russia ' Department of Marketing and Management, SKODA AUTO University, Mlada Boleslav, Czech Republic; Department of Business, RISEBA University of Applied Sciences, Riga, Latvia ' Volgograd State Agrarian University, Volgograd, Russia

Abstract: The goal of this paper is to determine whether hi-tech production based on intelligent machines in emerging economies in Industry 4.0 is a source of new quality of economic growth or a path to socio-economic crisis and to prepare recommendations for managing the process of robotisation of emerging economies with the help of economic policy. Originality of this research consists also in a multi-factor study of quality of economic growth and consideration of the current crisis situation in the global economy. The perspective of transition to new quality of economic growth is for the first time studied not at the upward but at the downward phase of an economic cycle. We study the experience of emerging economies that suffered from the 2020 crisis and take into account a new factor that appeared in the crisis conditions - the factor of entrepreneurial fear of failure, which supposedly influences the intensity of robotisation.

Keywords: economic policy; hi-tech production; intellectual machines; Industry 4.0; new quality of economic growth; socio-economic crisis; emerging economies.

DOI: 10.1504/IJEPEE.2024.139077

International Journal of Economic Policy in Emerging Economies, 2024 Vol.19 No.3/4, pp.368 - 380

Received: 08 Nov 2020
Accepted: 27 Mar 2021
Published online: 12 Jun 2024 *

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