State Management of Foreign Economic Activities of a Region in the Conditions of the Digital Economy

Abstract

Purpose: The purpose of the work is to study the specifics of public management of foreign economic activity of the region in the digital economy on the example of the North Caucasus Federal District of the Russian Federation. Design/methodology/approach: In order to obtain the most accurate and reliable results in the study of the problem, a comprehensive analysis of statistical data reflecting various aspects of foreign economic activity of the regions of the North Caucasus Federal District of the Russian Federation is carried out in this research. In order to identify the specifics of these activities in the digital economy, statistical data are considered in dynamics—2011 and 2018. Findings: So, the working hypothesis is confirmed. On the basis of the experience of the regions of the North Caucasus Federal District of the Russian Federation, which has demonstrated negative trends in foreign trade, four new directions of state management of foreign economic activity of the region, arising in the conditions of digital economy, have been defined: regulation of foreign trade in technologies as one of the most valuable resources of the region in the conditions of digital economy, general control of foreign trade in goods in the interests of ensuring economic security of the region, assistance in exploiting integration opportunities for the development of the digital economy in the region, and foreign investment attraction in the development of the digital economy in the region. Originality/value: The main conclusion of this study, which has both theoretical and applied value, is to justify the need to pay greater attention to public regulation of foreign trade in the digital economy. The analyzed experience of the regions of the North Caucasus Federal District of the Russian Federation can be useful for many other regions characterized by moderate global competitiveness and reserved integration. Selected regulatory directions are universal—they are relevant for all regions in the digital economy. But depending on the specifics of the situation, different approaches for the implementation of these directions can be applied based on either stimulating or deterrent and restrictive measures.