Institutional model for the protection of rights of the parties concerned in the sale of goods and services with the use of information technologies

Abstract

Goal: This paper is aimed at developing an institutional model for the protection of rights of the parties concerned in the sale of goods and services with the use of the information technology through the example of modern Russia. Methodology: The neo-institutional economic theory, in which we use a transactional conceptual approach to the study of economic activity, based on the ideas of R. Coase, serves as the fundamental platform of this paper. Statistical data from RosBiznesKonsalting (RBK) served as the analytic database for this research dealing with the review of the Russian e-commerce market in 2018. Conclusions: We have made a polygon of the parties concerned in the sale of goods and services with the use of the information technology, which identifies these parties, their role in e-commerce, and their rights. It has been found that the lack of protection of customers' rights in the sale of goods and services with the use of the information technology presents a problem of great concern in the development of e-commerce in modern Russia. An institutional model for the protection of rights of the parties concerned in the sale of goods and services with the use of the information technology has been developed with a view to solving this problem. Originality/Significance The developed model makes it possible to improve the institutional support for the protection of rights of the parties concerned in the sale of goods and services with the use of the information technology through the creation of the compulsory business insurance institution in e-commerce and the institution of contract in e-commerce, as well as by means of the optimization of existing institutions through standardization, rigorous selection, and control of e-commerce businesses (including brokerage). The expected positive results from the implementation of the proposed author's recommendations are attributed to the growth of consumer confidence in e-commerce in Russia and its increasing popularity, as well to the triumph over the shadow economy in e-commerce. In the long-term, this should guarantee an increase in federal budget income, improved competitiveness of the Russian economy, an increase in the net balance of international economic activity, as well as heightened rate of economic growth.