Digital economy as an institutional environment for transaction costs of participants in the Russian housing market

Syrovatkina T.N.1, Fedorova O.I.1
1 Оренбургский государственный университет, Russia

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Journal paper

Creative Economy (РИНЦ, ВАК)
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Volume 12, Number 2 (February 2018)

Citation:

Syrovatkina, T. N., & Fedorova, O. I. (2018). Digital economy as an institutional environment for transaction costs of participants in the Russian housing market. Creative Economy, 12(2), 141-152. https://doi.org/10.18334/ce.12.2.38812

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=32596107
Cited: 14 by 30.01.2024

Abstract:
In the article we set a goal to describe the impact of information and communication technologies on transaction costs and behavior of real estate agents. The relevance of the issue is determined by the active position of the Russian state, representatives of business, households in the transition to a digital economy.At this stage, there has already been notable success in the application of electronic technologies in key sectors of the economy, including in construction and real estate market related to it. However, the issue of providing the population with quality housing remains unresolved. The main reason for this is the stable high cost of "square meters", which, among other things, is due to a significant level of transaction costs for all market participants. The application of the institutional approach allows to reveal the impact of the digital economy on the changing institutional environment of the housing market, as well as to identify new opportunities for the economy in solving the problem of minimizing transaction costs in the market under study.

Keywords: digital economy, transaction costs, institutional structures of the housing market

JEL-classification: L74, R21, L86

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