Relevance. The spread of the coronavirus infection and the ensuing economic restrictions significantly influenced the main parameters of the socio-economic development of Russia and its territories, affecting the growth rate, production structure, territorial differentiation and competitiveness of Russian regions. Purpose of the study. The key goal of the study was to identify the socio-economic changes in the development of the country and its regions during the pandemic. Data and Methods. The analysis relies on open data on the socio-economic development of Russian regions for 2019–2021 (monthly, quarterly and annual periods), posted on the official website of Rosstat. Methodologically, the study is based on the comparative analysis of the data for the federal districts and their regions. Results. The study describes the main trends in the development of industry, trade, paid services, and investment potential and in the dynamics of unemployment and income in federal districts and regions. The first wave hit Russian regions the hardest due to the rigorous restrictions. Although no sharp recession was detected during the second wave, the stagnation in the key sectors persisted. The third wave is expected to have the same impact as the second. Conclusions. After the second wave subsided, there was a revival of economic activity in the spring of 2021. However, this has not turned into a steady trend yet. The coronavirus pandemic affected the competitiveness of regions. The importance of certain factors (including those related to resource potential) decreased during the pandemic, while the role of the competitive position of regions in the distribution of federal budget transfers increased.

No abstract

This paper sets out to investigate the effects of the COVID-19 pandemic on digital transformations in the economy of Russian regions. The authors believe that, during this challenging period, the transfer of various types of economic relations and interactions to a digital format becomes an important factor in preserving the social and economic potential of regions and increasing the level of business survival. The aim of the paper is to study the trends of digital transformations in the economy of Russian regions, caused by the COVID-19 pandemic, as well as to identify the factors determining the readiness of regions to develop digitalisation processes. The methodology of the study involves the concept of intensive and extensive application of information and communication technologies and the theory of shocks. The empirical basis of the study relies on data provided by international organisations (ILO, OECD, WorldBank, ITC) andthe Federal State Statistics Service, analytical reports of international and Russian consulting, audit and expert organisations (McKinsey, FinExpertiza, RBC, NAFI), as well as on live data posted on official websites managed by public authorities of the constituent entities of the Russian Federation. The study of digital transformations at the procedural, institutional and business levels demonstrated that the vector of digital transformations in regional economies is expressed in the orientation towards the formation of business and manufacturing ecosystems, with a change in the process of value creation from the value proposition of products to the value proposition of services. The conducted analysis enabled the authors to evaluate the readiness of regional economies to implement digital transformations. It is concluded that the development of these processes is associated with active governmental support for the implementation of complex projects directed at the digitalisation of regional economies.