Impact of Digitalization on the Efficiency of Russian Economy

Abstract

The object of the paper is to analyse the impact of digital transformation processes of the economy on its structural and qualitative characteristics, and to substantiate the strategic directions to improve economic dynamics in the context of the digital transformation of the economy. The analysis showed that the rather rapid development of the information infrastructure as well as the digital economy had not been accompanied by corresponding structural changes in the economy and improvements in its efficiency. The downfall of «digital inequality» indicators of regions has not led to a reduction, but to an increase of their socio-economic differentiation. In addition, the digitalization of economic sectors has had little impact on the sectoral structure of employment. Nor has the growth in digitalization been matched by positive performance indicators such as productivity and the share of the high-tech sector. The negative aspect of the digital transformation of the economy is the reduction of the need for highly qualified specialists and, as a result, the decrease in the number of students enrolled in higher education programmes. Low levels of investment and innovation, as well as high level of dependence on imported equipment and other products for the introduction of digital technologies, have been identified as the main factors for the lack of impact of the growth of digitalization on the efficiency of the economy. As a result, the multiplier effect from the rather impressive expenditures on the development of digital economy turned out to be insufficient for a significant improvement in economic dynamics.