The impact of digitalization on the Russian economy

Abstract

Subject. This article discusses the development of digital technologies and their impact on workforce productivity and economic growth in Russia. Objectives. The article aims to assess the impact of digital technologies on labor productivity and economic growth in Russia. Methods. For the study, I used regression estimation using the two-stage least squares method. Expenditures on information and communication technologies (ICT) and investments in assets for the acquisition of ICT equipment were used as baseline variables. The Rosstat, Bank of Russia, World Bank, and the International Data Corporation data have been considered. Results. The article presents the results of an assessment of the impact of ICT development on labor productivity and economic growth in Russia. Conclusions and Relevance. The article establishes the positive impact of growth in spending and investment in ICT on labor productivity and economic growth in Russia. The hypothesis of a positive impact of ICT infrastructure development on these indicators is not confirmed. The results of the study can be used by market participants and public authorities when making decisions on investing in the ICT sector.