The Institutional Model of Building the Digital Economy in Modern Russia

Abstract

Purpose: The purpose of the research is to develop the institutional model of building the digital economy in modern Russia.

Design/Methodology/Approach: The authors use the methodology of the institutional economic theory – scientific induction, namely, the method of similarity. This method is used for determining the common causal connections of the preconditions, normative & legal regulation, and the economic practice at different stages of the process of institutionalization of the digital economy in Russia. The method of structuring is used for distinguishing the stages of this process. The method of modeling of socio-economic processes and systems is used for systemic presentation of this process.

Findings: It is determined that the process of institutionalization of the digital economy is implemented in three stages: formation of the system of e-government, information society, and the digital economy. This process has its specifics (it is predetermined by external factors, has a reverse, and faces the absence of opportunities of practical implementation of the government plan) – i.e., it is created artificially (by the government), as opposed to the existing economic practice.

Originality/Value: It is substantiated that Russia is peculiar for contradiction of interests of the state, which are established in the legal norms, and interests of the society, which are reflected in the economic practice, in the process of building the digital economy. It is proved that this contradiction hinders the formation of the digital economy in Russia and reduces its global competitiveness. The perspectives of further institutionalization of the digital economy in Russia are outlined, and recommendations for overcoming the contradiction of the digital economy in Russia, its quick institutionalization, and growth of its global competitiveness are offered.