The potential for labor productivity growth in the context of digital transformation

Abstract

Digital transformation permeates all aspects of life. Recent years have shown an increasing growth in the number of studies on the impact of digitalization on industrial and economic development, business environment, employment and labor quality. This article attempts to identify the relationship between increasing labor productivity and indicators that characterize the digital transformation of the economy. Relatively high level of regional differentiation and socio-economic development of territories in Russia makes the digital transformation of production and social processes uneven; the estimates within this study focus on the Federal districts of the Russian Federation. The authors apply macroeconomic analysis of the overall efficiency of the Russian economy (refined by the labor productivity indicators of the Federal districts), statistical and econometric methods for data analysis, and the multiple regression analysis of the selected data sets, including labor productivity indicators and digital economy development indicators from the official data collected by the Federal State Statistics Service of the Russian Federation. Analysis of the Networked Readiness Index, the Global Innovation Index and the Knowledge Economy Index, that demonstrate the significance of the culture of digital services consumption and digital skills training on the national level, shows a significant gap between Russia and the top ten leading countries. The authors emphasize the necessity for statistical monitoring of the current state and the development of digital skills among the population through the system of continuing education, as well as their utilization based on time and spatial factors.