Digitalization of the Russian Economy: Institutional Strategies, Factors and Problems

Abstract

The relevance of the research is determined by the importance of the competitiveness of the national economy in the new conditions of emerging and developing the digital economy. The purpose of the research is to assess the obstacles to the effective implementation of the digitalization strategy of the national economy and constraining factors, which, in our opinion, are left without due attention. The article considers the impact of institutional features of the modern Russian economy on the economic behavior of a business. An unfavorable institutional environment stands out as the main reason slowing down the digitalization of the Russian economy and the development of digital technologies by the business. An analysis of the current institutional environment in Russia, especially its factors such as insecurity of property rights and low institutional trust in the authorities, allows concluding that they lead to new economic and behavioral rules to emerge and enshrine, which become alternative mechanisms for actors to make a choice when fulfilling their economic interests. The article substantiates a modern phenomenon of the Russian economy such as the institutional alienation by the business of its reproductive functions in social production. In this connection, measures on digitalization of the economy should be developed at the government level when they are integrated with a plan of actions on the improvement of the institutional environment, which hinders the effective socio-economic development of the national economy.