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Modern financial technologies as a significant factor of digitalization of the Russian economics

https://doi.org/10.17073/2072-1633-2022-1-105-115

Abstract

In continuation of the article “Conceptual foundations for the use of modern financial technologies in the Russian industry the authors summarized the open-source data devoted to using modern financial technologies for successful digitalization of the Russian economics. The authors study initiatives of the Government of the Russian Federation presented as part of the National Program “Digital Economics of the Russian Federation”. The initiatives are devoted to the issues of implementation of modern financial technology (FinTech). The authors also analyze the dynamics and structure of financing six federal projects included into the National Digitalization Program. Among multiple projects of the above mentioned National Program they distinguish the initiatives connected with active development of FinTech. Analyzing the results of the National Digitalization program during the first three years of its implementation (2019-2021) it is possible to establish significant impact of modern financial technologies on the digitalization of the Russian economics. The authors consider the state of the regulatory and legislative framework regarding the issues of implementation of modern financial technologies into the national economy in three directions: an enhanced qualified electronic signature, turnover of digital financial assets and the Bank of Russia's regulatory sandbox. The authors summarized characteristics of various directions of the FinTech Association's activity in Russia. The Association has taken on the role of a coordinator in the sphere of development of methodology and promotion of modern financial technologies. The authors introduce a set of tools for assessing the effectiveness and efficiency of economic processes subject to the use of financial technologies in various fields. It is advisable to assess the impact of “Fin Tech” on the indicators that characterize financial and economic activity of a company (or a group of companies): from the “revenue” to “weighted average cost of the company's capital” and “the company's economic value added”.

About the Authors

N. A. Kharitonova
Financial University under the Government of the Russian Federation
Russian Federation

Nataliya A. Kharitonova - Dr.Sci. (Econ.), Professor, Professor at the Department of Industrial Markets, Faculty of Economics and Business,.

49/2 Leningradskiy Ave., Moscow 125167.



E. N. Kharitonova
Financial University under the Government of the Russian Federation
Russian Federation

Ekaterina N. Kharitonova - Dr.Sci. (Econ.), Professor at the Department of Financial and Investment Management, Faculty Higher School of Management.

49/2 Leningradskiy Ave., Moscow 125167.



I. A. Litvinov
Intercos-IV LLC
Russian Federation

Ilya A. Litvinov - Ph.D (Econ.), Director.

122a Izhora Plants, Kolpino, St. Petersburg 196650.



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Review

For citations:


Kharitonova N.A., Kharitonova E.N., Litvinov I.A. Modern financial technologies as a significant factor of digitalization of the Russian economics. Russian Journal of Industrial Economics. 2022;15(1):105-115. (In Russ.) https://doi.org/10.17073/2072-1633-2022-1-105-115

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ISSN 2072-1633 (Print)
ISSN 2413-662X (Online)