State Regulation of Commodity Prices as a Factor of Global Competitiveness and Development of the Digital Economy in the EAEU Member States

Abstract

One of the driving forces of the modern economic system is global competitiveness and digitalization of the economy, which determine the position of states in world markets. At the same time, restrictions on free trade in the country may lead to deterioration of the activities of domestic entrepreneurs. However, the consequences of state regulation of prices on commodity markets may have ambiguous consequences for these factors, which is why the relevance of the study is determined. The purpose of the study is to identify the degree and nature of dependence in the EAEU member states of competitiveness and development of the digital economy on state regulation of commodity prices. The main methods presented in the work are general scientific methods, statistical methods and methods of economic and mathematical modeling. Within the framework of the study, statistical data were used to study the causal relationships of state regulation of commodity prices in the EAEU: the global competitiveness index, the digital competitiveness index, the digital knowledge index, the technological readiness index, the digital technology application index, the annual economic growth rate, the volume of investments in the economy of the EAEU countries, imports of goods in the EAEU countries. The evaluation of the regression analysis showed that market competition and inflation have a statistically significant impact only on global competitiveness, digital knowledge, the volume of investments, but there is no impact on digital competitiveness, technological readiness, the use of digital technologies, the pace of economic growth, imports, according to the study. Based on the results of the study, alternative scenarios were constructed for the development of the consequences of state regulation of commodity prices in the EAEU member states for global competitiveness and the development of the digital economy in the post-pandemic period.