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Forcing the Digital Economy: How will the Structure of Digital Markets Change as a Result of the COVID-19 Pandemic

Author

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  • N. A. Ganichev

    (Institute of Economic Forecasting, Russian Academy of Sciences)

  • O. B. Koshovets

    (Institute of Economic Forecasting, Russian Academy of Sciences)

Abstract

Could the forced digitalization of multiple spheres of human life caused by the coronavirus pandemic lead to radical changes in the global and Russian economies? How and to what extent have ubiquitous lockdowns affected the digital transformation? The new model of the digital economy growth, formed during the ongoing crisis, actually contributes to the accelerated development of secondary digital infrastructure (platforms and artificial intelligence technologies) through the creation of mass markets, the noticeably higher consumption in the field of ICT services, and the redistribution of a significant part of resources from other sectors. However, this digital forcing, within the framework of which traditional industries were placed in a deliberately losing situation due to artificially created circumstances, is taking place during a fundamental structural crisis of the global economy. Therefore, unlike the technological revolutions of the past, this one will have serious objective limitations associated with narrowed opportunities for the development of the primary digital infrastructure, without which extensive development of digital services and markets is impossible. In addition, further implementation of the adopted model of building a digital economy, based on the collection and processing of big data, is fundamentally impossible outside globalization processes and implies a significant imbalance between the new “world technological center” (the United States and China, who, however, are in a state of trade war) and the “world technological periphery.” For most other countries, including Russia, it means the need to “fit” into one of the two currently possible peripheral contours of the global digital transformation.

Suggested Citation

  • N. A. Ganichev & O. B. Koshovets, 2021. "Forcing the Digital Economy: How will the Structure of Digital Markets Change as a Result of the COVID-19 Pandemic," Studies on Russian Economic Development, Springer, vol. 32(1), pages 11-22, January.
  • Handle: RePEc:spr:sorede:v:32:y:2021:i:1:d:10.1134_s1075700721010056
    DOI: 10.1134/S1075700721010056
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    References listed on IDEAS

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    1. Ruttan, Vernon W., 2006. "Is War Necessary for Economic Growth?: Military Procurement and Technology Development," OUP Catalogue, Oxford University Press, number 9780195188042, Decembrie.
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    4. N. A. Ganichev & O. B. Koshovets, 2019. "Integrating Russia into the Global Project of Digital Transformation: Opportunities, Problems and Risks," Studies on Russian Economic Development, Springer, vol. 30(6), pages 627-636, November.
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    Cited by:

    1. A. N. Klepach & L. B. Vodovatov & E. A. Dmitrieva, 2022. "Russian Science and Technology: Rise or Progressive Lag (Part I)," Studies on Russian Economic Development, Springer, vol. 33(6), pages 631-644, December.
    2. V. V. Kharitonov & D. Yu. Semenova & E. V. Akinfeeva, 2021. "Investment Performance Predictions in the Digitization of Nuclear Energy," Studies on Russian Economic Development, Springer, vol. 32(6), pages 662-667, November.
    3. Makoza, Frank, 2022. "Analysing Digital economy Strategy of Malawi against the Digital Economy Ecosystem Framework," EconStor Preprints 264273, ZBW - Leibniz Information Centre for Economics.
    4. N. A. Ganichev & O. B. Koshovets, 2022. "Rethinking Russian Digital Economy Development Under Sunctions," Studies on Russian Economic Development, Springer, vol. 33(6), pages 645-655, December.
    5. Lilia A. Valitova & Elena R. Sharko & Marina Yu. Sheresheva, 2021. "Identifying industrial clusters based on the analysis of business ties: A case of the textile industry," Upravlenets, Ural State University of Economics, vol. 12(4), pages 59-74, September.
    6. Wei Wan & Jue Wang & Weimin Jiang, 2023. "Does COVID-19 Exacerbate Regional Income Inequality? Evidence from 20 Provinces of China," Sustainability, MDPI, vol. 15(15), pages 1-16, August.
    7. Julia Varlamova & Ekaterina Kadochnikova, 2023. "Modeling the Spatial Effects of Digital Data Economy on Regional Economic Growth: SAR, SEM and SAC Models," Mathematics, MDPI, vol. 11(16), pages 1-31, August.
    8. V. E. Dementiev, 2022. "Prospects for Russia Under the Digital Domination of China and the United States," Studies on Russian Economic Development, Springer, vol. 33(4), pages 359-366, August.

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