Digitalization of the Financial Sector of the Economy: Who will Receive Digital Dividends?

2018 ◽  
Vol 11 (2) ◽  
pp. 75-83
Author(s):  
E. R. Bezsmertnaya
Keyword(s):  
Economic Development ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Innovative Technology ◽  
Innovative Technologies ◽  
Russian Economy ◽  
Socio Economic Development ◽  
Potential Benefits ◽  
The Subject ◽  
The Impact

Nowadays, all sectors of the Russian economy are feeling a certain stress caused by the development of digital technologies. There is no doubt that the competitiveness of both individual companies and the state as a whole depends on what positions the domestic economic entities will occupy in the processes of digital transformation. The subject of the research is the specific features and prospects for the development of digitalization processes in Russia. The purpose of the research was to assess the potential benefits and possible challenges to the Russian economy in implementing innovative technology programs. The paper pays special attention to the specifics of the development of digital technologies in the financial sphere. It is concluded that the impact of digital technologies on the socio-economic development of society is ambiguous and a further study of foreign and domestic experience of digitalization and the development of innovative technologies is needed.

scholarly journals Digital economy. IT strategy of the company development

2018 ◽  
Vol 170 ◽  
pp. 01034 ◽  
Author(s):  
Alexandra D. Borremans ◽  
Irina M. Zaychenko ◽  
Oksana Yu. Iliashenko
Keyword(s):  
Economic Development ◽  
Business Processes ◽  
Digital Technologies ◽  
Digital Transformation ◽  
It Strategy ◽  
Strategy Formation ◽  
Social And Economic Development ◽  
Socio Economic Development ◽  
The Russian Federation ◽  
The Impact

The article describes the impact of digital technologies on the level of social and economic development of the society, provides a rating of the largest IT companies in terms of the volume of business capitalization. The necessity of digital transformation of the management of the socio-economic development of society and organizations is substantiated. The problems of transition to a digital basis for managing the economy in the Russian Federation are revealed. The model of IT strategy formation for digital transformation of business processes at the enterprise is formed. As a tool for selecting the most preferred IT strategy of an enterprise in any industry, a matrix of possibilities for implementing an IT strategy for the enterprise is proposed.

The specificity of the digital transformation of the public sector

2021 ◽  
Vol 150 (3) ◽  
pp. 1-23
Author(s):  
Katarzyna Śledziewska ◽  
Renata Włoch
Keyword(s):  
Public Sector ◽  
Public Administration ◽  
Main Part ◽  
New Technology ◽  
Digital Technologies ◽  
Digital Transformation ◽  
The Internet ◽  
The Public ◽  
The Subject ◽  
The Impact

In this article we focus on identifying the specificity of digital transformation within the public sector. The aim of the article is to present the main mechanisms resulting from the introduction of digital innovations that have changed the functioning of the public sector. Starting from a discussion on the technological requirements of digital transformation, we briefly characterise the use of computers and the Internet in public administration, resulting in the development of e-services and administration. The main part of the article is devoted to discussing the specificity of the implementation of the new digital technologies in public administration, focusing mainly on artificial intelligence and blockchain technologies. Our thesis is that the impact of innovative digital technologies on the operation standards and structure of public administration should be analysed through the prism of interrelated mechanisms of datafication and platformisation, characteristic for the digital economy. The adopted methodology, which is based on an analysis of the subject literature and an analysis of new technology implementations in public administration in EU countries, indicates the pilot, random and non-transformational nature of these implementations, partly due to the lack of well-established methodologies to study and assess the maturity of digital transformation within the public sector.

Reformatting the Social Contract in the Context of a Pandemic

2021 ◽  
Vol 27 (2) ◽  
pp. 111-116
Author(s):  
A. N. Leontieva
Keyword(s):  
Economic Development ◽  
Social Contract ◽  
National Development ◽  
Factors Affecting ◽  
Scientific Methods ◽  
Russian Economy ◽  
Development Agenda ◽  
The Social ◽  
Socio Economic Development ◽  
The Impact

Aim. The presented study aims to identify the most significant changes in the global and national development agenda associated with the impact of the coronavirus pandemic.Tasks. The authors analyze the performance of the financial sector; summarize the assessments of leading consulting companies and the results of public opinion polls regarding the actual and projected state of the global and Russian economy and changes in consumption patterns; determine challenges that national authorities are currently facing.Methods. This study uses general scientific methods of cognition: observation, generalization, comparison, deduction and induction, methods of institutional and structural analysis.Results. Major trends of socio-economic development during the post-crisis period are examined and analyzed; factors affecting changes in the social structure and potential directions of managerial influence are determined.Conclusions. The 2020 coronavirus pandemic has been a huge stress for the established management systems at all levels, generating additional public demands that need to be reflected in the social contract. Changes in the main trends of socio-economic development caused by quarantine measures determine the parameters of a different environment for national and social development. Production and industry are affected by regionalization, while consumption is becoming increasingly globalized. Human capital is undergoing transformation in response to the digitalization of the economy, which creates the prerequisites for increasing inequality.

scholarly journals THE STUDY OF THE TERRITORIAL AND SECTORAL STRUCTURE OF THE RUSSIAN ECONOMY IN THE CONTEXT OF INTERREGIONAL INTEGRATION: TO THE FORMULATION OF THE PROBLEM

2021 ◽  
pp. 108-116
Author(s):  
A. Ya. Trotskovsky ◽  
A. M. Sergienko ◽  
L. V. Rodionova ◽  
Yu. A. Perekarenkova ◽  
M. A. Sundeeva
Keyword(s):  
Economic Development ◽  
Industrial Structure ◽  
Driving Forces ◽  
Regional Growth ◽  
Agrarian Economy ◽  
Sectoral Structure ◽  
Russian Economy ◽  
Socio Economic Development ◽  
Industrial Regions ◽  
The Impact

The authors, taking into account the existing developments, reveal the scientific relevance of the topic, which consists in verifying the existing concepts of regional growth driving forces in relation to regions with an industrial or industrial-agrarian economy. The authors describe the practical relevance of the study, which, according to the authors, consists in identifying the reasons inherent in the agro-industrial regions as a whole for their lag in socio-economic development. For the first time, the question of studying the territorial and industrial structure and, in particular, one of its key elements-agro — industrial regions in the context of the formation and development of integration and cooperation processes is raised. The article considers the most important aspect of the problem — the impact of integration on the development of agro-industrial regions, the possibility of the latter to enter the integration union on an equal partnership basis. The authors explain their position on this issue in a reasoned manner. The article proposes a classification of agro-industrial regions of Russia by the size of the integration potential. The classification is based on two criteria: the level of socio-economic development and the degree of the region periphery. At the end of the article, the main priority directions and tasks of the long-term development of the topic under consideration are listed.

scholarly journals Assessment of the impact of digitalization on the socio-economic development of the country

2021 ◽  
Vol 128 ◽  
pp. 04013
Author(s):  
Margarita Bykova ◽  
Sergey Grachev ◽  
Oleg Donichev
Keyword(s):  
Economic Development ◽  
Driving Forces ◽  
Digital Transformation ◽  
Special Role ◽  
Time Lags ◽  
Highly Qualified ◽  
Socio Economic Development ◽  
The Russian Federation ◽  
The Impact ◽  
Transformation Processes

This article is devoted to the analysis of the impact of digital transformation processes on the socio-economic development of the country. To study the driving forces of development of the economy of the Russian Federation, a three-factor Cobb-Douglas function was constructed that was modified considering the factor of influence of digitalization on the GDP. Modern trends in the field of competition between cheap, but low-skilled labor, and expensive highly qualified labor, determine the need for analytical studies in the field of changing the existing factors of labor in the process of digital transformation. A special role in construction of a model that reflects the influence of various factors of changes within the framework of the sixth technology revolution is given to assessing the significance of the parameters under study in recent times. Wherein, special attention is focused on the need for further study of time lags reflecting the maximum return on use of labor, capital and digital resources.

scholarly journals Education as a driver of economic growth of territories in the conditions of digital transformation

2021 ◽  
Vol 97 ◽  
pp. 01001
Author(s):  
Inessa Vasileva ◽  
Natalia Morozova ◽  
Natalya Bondarenko
Keyword(s):  
Economic Development ◽  
Information And Communication Technologies ◽  
Education System ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Quality Of Education ◽  
Strong Impact ◽  
Digital Revolution ◽  
Socio Economic Development

The development and spread of digital technologies lead to serious qualitative changes not only in the field of industrial production. They have a strong impact on the social development of society, including education. The new technological (digital) revolution requires an individualized approach to meeting the economic and social needs of society. The digital revolution focuses on the quality of education based on the comprehensive development of each individual. Moreover, the tools of information and communication technologies used in the education system change depending on the conditions and settings of socio-economic development of the territory. Digital technologies have penetrated all spheres of society’s life, which requires a new quality of education from every employee. In the modern world, a computer can replace about 62% of employees, and only 13% of people have a high level of intellectual literacy that surpasses computer systems [1]. The existing education system needs serious changes, since the system of modern training of workers is inferior to the level of training of workers who worked in the 90s. Moreover, the changes that are being made should also be individualized depending on the socio-economic requirements of the territory. The article identifies the main problems of socio-economic development of the Chuvash Republic. A number of projects are proposed that contribute to the development of the region’s territory in the context of digital transformation.

World fintech: main trends

2021 ◽  
pp. 14-26
Author(s):  
Yuliya Viktorovna Evdokimova ◽  
Olga Vladimirovna Shinkareva
Keyword(s):  
Mergers And Acquisitions ◽  
Banking Industry ◽  
Digital Technologies ◽  
Digital Transformation ◽  
The World ◽  
The Subject ◽  
Coronavirus Infection ◽  
Basic Characteristics ◽  
The Impact ◽  
New Criteria

Recently, digital technologies in the fi nancial sector have been actively developing. The pandemic of a new coronavirus infection COVID-19 only spurred this process. The result of these events was the structural transformation of the global fi nancial services market, which is the object of this study. The subject of the study is the processes taking place in this market as a result of its digital transformation and the development of fi nancial technologies. Analysis, synthesis, induction, deduction were used as research methods. The multidisciplinary nature of the study should be noted due to the interconnection of sectors such as information technology, fi nancial technology, economic aspects. The study examines the basic characteristics of fi ntech solutions introduced into the practice of the world business, an ecosystem of fi nancial services, reveals the features of such models of the development of fi nancial innovations as USChinese, European and Russian. The impact of the pandemic of a new coronavirus infection of COVID-19 on the fi nancial services market was analyzed, it was noted that fi nancial and technological leaders of this sector of the economy can benefi t from the current situation. New criteria for the optimality of fi nancial services are highlighted, in particular, international nature, round-the-clock access, instant conversion with minimal costs and the presence of both fi at money and cryptocurrency. The volume of the global fi ntech market was analyzed, as well as forecasts regarding its development in the future, the volume of global investments in fi ntech in the fi eld of mergers and acquisitions was considered. The main directions of the fi ntech segment development according to the results of the 2019 study were considered and the countries in which this segment is developing most actively were highlighted. The evolution of traditional banks and revealed fi ntech trends in the banking industry in 2020.

scholarly journals THE IMPACT OF DIGITALIZATION ON THE EFFICIENCY OF THE SALES CYCLE

2021 ◽  
Vol 9 (7) ◽  
pp. 204-206
Author(s):  
D. M. Kongo
Keyword(s):  
Business Processes ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Scientific Article ◽  
Construction Sector ◽  
Construction Company ◽  
Russian Economy ◽  
The Impact ◽  
Research Analysis

The scientific article is devoted to the research analysis of promising directions for improving the work of the sales department of a construction company through the digital transformation of business processes and the implementation of ready-made IT solutions. The relevance of the study is due to the digital transformation of the construction sector of the Russian economy, which is why an increasing number of competing organizations are introducing the latest technologies in managing the efficiency of their sales. Within the framework of the article, the characteristics of the directions of digitalization of the company's commercial sales cycle are considered. The advantages and efficiency, which is formed through the use of digital technologies and ready-made IT solutions, are analyzed.

scholarly journals The Role of Strategies in Diversification of Regional Economies: Planned Development versus Unplanned Results

REGIONOLOGY ◽  
2021 ◽  
Vol 29 (2) ◽  
pp. 283-305
Author(s):  
Yaroslav Yu. Eferin
Keyword(s):  
Economic Development ◽  
Structural Changes ◽  
Strategic Decision ◽  
Regional Economies ◽  
Managerial Decisions ◽  
Russian Economy ◽  
Socio Economic Development ◽  
Regional Authorities ◽  
The Impact

Introduction. The issues of long-term strategic planning are crucial for the successful socio-economic development of Russia’s regions. At the same time, the validity of the choice of industry priorities is often not supported by a comprehensive analysis of the unique competitive advantages of the region, which makes it difficult to achieve the established goals. The purpose of the study is to identify the links between the stated priorities and structural changes in Russia’s regions, particularly, the emergence of new industries of specialization in the regions. Materials and Methods. The study was based on the strategies for socio-economic development of Russia’s regions adopted in 2005–2010. The method of content analysis of documents was employed when forming a list of the priority industries declared in the strategies of 66 constituent entities of the Russian Federation. The adapted methodology of the European Cluster Observatory for identifying industry specializations was used to determine the diversification of regional industry portfolios. Results. The conducted analysis of the strategic documents has shown that the industry priorities of Russia’s regions do not reveal their unique specializations, but are focused on the sectors which are most common for the Russian economy. In half of the strategies the food industry and heavy engineering are named as priorities for long-term development. Diversification of regional industry portfolios has been recorded in 46 regions. A total of 76 cases of industries emerging in regional portfolios from 2005 to 2015 have been identified. In 11 regions, the declared industry priorities have not been associated to the real processes of diversification. Discussion and Conclusion. The study has revealed that the diversification of the economy in many Russia’s regions is unplanned. This is not so much the result of a strategic decision of regional authorities, but rather the impact of factors that are not taken into account when choosing industry priorities, which have a significant impact on industry development. The provisions and regional classifications developed in the article may contribute to the development of the theory of public and municipal administration in terms of assessing the impact of managerial decisions on the socio-economic development of territories.

Anne O. Krueger, Constantine Michalopoulos and Vernon W. Ruttan. Aid and Development. Baltimore: The Johns Hopkins University Press. 1989. xiv + 386 pp.Price: U.S. $ 52.00

1991 ◽  
Vol 30 (2) ◽  
pp. 213-217
Author(s):  
Mir Annice Mahmood
Keyword(s):  
United States ◽  
Economic Development ◽  
International Development ◽  
Western Europe ◽  
Development Assistance ◽  
The United States ◽  
Social Infrastructure ◽  
Low Literacy ◽  
The Subject ◽  
The Impact

Foreign aid has been the subject of much examination and research ever since it entered the economic armamentarium approximately 45 years ago. This was the time when the Second World War had successfully ended for the Allies in the defeat of Germany and Japan. However, a new enemy, the Soviet Union, had materialized at the end of the conflict. To counter the threat from the East, the United States undertook the implementation of the Marshal Plan, which was extremely successful in rebuilding and revitalizing a shattered Western Europe. Aid had made its impact. The book under review is by three well-known economists and is the outcome of a study sponsored by the Department of State and the United States Agency for International Development. The major objective of this study was to evaluate the impact of assistance, i.e., aid, on economic development. This evaluation however, was to be based on the existing literature on the subject. The book has five major parts: Part One deals with development thought and development assistance; Part Two looks at the relationship between donors and recipients; Part Three evaluates the use of aid by sector; Part Four presents country case-studies; and Part Five synthesizes the lessons from development assistance. Part One of the book is very informative in that it summarises very concisely the theoretical underpinnings of the aid process. In the beginning, aid was thought to be the answer to underdevelopment which could be achieved by a transfer of capital from the rich to the poor. This approach, however, did not succeed as it was simplistic. Capital transfers were not sufficient in themselves to bring about development, as research in this area came to reveal. The development process is a complicated one, with inputs from all sectors of the economy. Thus, it came to be recognized that factors such as low literacy rates, poor health facilities, and lack of social infrastructure are also responsible for economic backwardness. Part One of the book, therefore, sums up appropriately the various trends in development thought. This is important because the book deals primarily with the issue of the effectiveness of aid as a catalyst to further economic development.

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