ISSN 2409-7616

Mabiala G., Bayrakova I.V., Kochetkova N.V.

PROBLEMS, PROSPECTS, AND PRIORITY DIRECTIONS OF INSTITUTIONAL SUPPORT FOR DIGITALIZATION AND DEVELOPMENT OF THE ECONOMIC SECTORS

DOI: http://doi.org/10.15350/2409-7616.2022.2.21

UDC 330.88 (338):1 (+075.8)

Mabiala G.1 (Simferopol, Russian Federation) – E-mail: gilmabiala@mail.ru, Bayrakova I.V.1 (Simferopol, Russian Federation) – E-mail: Bairakova67@mail.ru, Kochetkova N.V.1 (Simferopol, Russian Federation) – E-mail: st_iv@list.ru

1V.I. Vernadsky Crimean Federal University

Abstract. The purpose of the study is to substantiate promising ways of institutional support for the process of economic digitalization and ensure the improvement of efficiency indicators in certain areas of activity based on the identification of existing problems in the modern economic system. The object of the study is the processes of institutionalization of the economy, providing trends in the digitalization of the economy and its social sphere. The subject of the study is the problem of institutional support for regulatory systems and the sustainable digitalization of the economy in the foundations of structural changes in key sectors. The theoretical approaches to highlighting the role of institutional structures in stimulating economic growth and establishing factors for effective digitalization of spheres of activity are considered. To achieve this goal, traditional and specific methods of scientific research are used, which allowed us to achieve the main results: determination of the regulatory mechanism for digitalization of spheres of activity, and the feasibility of identified measures of institutional support for economic regulation; and the highlighting of priorities for ensuring the development of spheres of activity. Conclusions. The institutional environment is very important for the development of fields of activity. It is necessary to use the tools of institutional policy to achieve stabilization of trends to ensure the development of a digital economy. The problems of institutional economics and synergetic effects of the digitalization of the economy as one of the determinants of increasing the effectiveness of the implementation of the country’s social expectations are objectively discussed.

Keywords: system of state regulation, economic policy, institutional development, economic growth, institutional factors, synergetic effect, institutional changes, development institutions, a grouping of institutional factors, institutional environment.

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For citation:

Mabiala G., Bayrakova I.V., Kochetkova N.V. Problems, prospects, and priority directions of institutional support for digitalization and development of the economic sectors. CITISE, 2022, no. 2, pp.240-257. DOI: http://doi.org/10.15350/2409-7616.2022.2.21