Trust As a Factor in the Development of the Economy in the Context of Digitalization

Abstract

In the era of the development of digital technologies, a low level of trust in the digital environment with the spasmodic growth of transactions becomes one of the challenges. In Russia, ensuring the accelerated implementation of digital technologies in the economy and social sphere is one of the national development goals. A high and stable level of trust of citizens and entrepreneurs in basic institutions largely determines the country’s ability to achieve socio-economic development. In turn, the confidence indicator also reflects the economic situation and the potential for socioeconomic development of the country. The purpose of the study is to assess the level of trust and its dynamics in Russian society for the period 2012–2018, using an indicator of confidence in business. The empirical base is the Edelman PR Worldwide analytical reports — “Edelman Trust Barometer”, the results of the annual Deloitte Millennial Survey, and the Doing Business analytical reports prepared by the World Bank and the International Finance Corporation. Despite the penultimate places of Russia in the ranking of the countries where the survey was conducted, there is a positive trend: an increase in the level of trust from 38% in 2016 to 41% in 2018 and, accordingly, a shift in the rating position from 27th place in 2016 to 25th place in 2018. The change in the level of confidence of Russian citizens was carried out in relation to four basic enlarged groups of institutions: government organizations, the media, business and non-governmental organizations. A long-term trend of the level of trust was built and its features in the Russian Federation revealed. Keywords: trust, digital economy, institutions, socio-economic development