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The impact of digitalization on the Russian economy

Vol. 28, Iss. 7, JULY 2022

Received: 16 June 2022

Received in revised form: 30 June 2022

Accepted: 14 July 2022

Available online: 28 July 2022

Subject Heading: Financial system

JEL Classification: E22, E24, O33

Pages: 1534–1553

https://doi.org/10.24891/fc.28.7.1534

Oskar S. GASANOV Don State Technical University (DSTU), Rostov-on-Don, Russian Federation
osgas@mail.ru

https://orcid.org/0000-0002-2126-8394

Subject. This article discusses the development of digital technologies and their impact on workforce productivity and economic growth in Russia.
Objectives. The article aims to assess the impact of digital technologies on labor productivity and economic growth in Russia.
Methods. For the study, I used regression estimation using the two-stage least squares method. Expenditures on information and communication technologies (ICT) and investments in assets for the acquisition of ICT equipment were used as baseline variables. The Rosstat, Bank of Russia, World Bank, and the International Data Corporation data have been considered.
Results. The article presents the results of an assessment of the impact of ICT development on labor productivity and economic growth in Russia.
Conclusions and Relevance. The article establishes the positive impact of growth in spending and investment in ICT on labor productivity and economic growth in Russia. The hypothesis of a positive impact of ICT infrastructure development on these indicators is not confirmed. The results of the study can be used by market participants and public authorities when making decisions on investing in the ICT sector.

Keywords: digital technologies, information and communication technologies, labor productivity, economic growth

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