Fall of transactional sector: april trends and consequences of economic policy alternatives

Abstract

Objective: to assess the current trends in the development of the transaction sector in Russia and to identify alternatives to implementing economic policy in the context of restrictions on economic activity.Methods: the research used general scientific methods of cognition; content analysis of literary sources and mass media; comparative discursive categorical analysis.Results: the corona virus pandemic highlighted new challenges for the economies of almost all countries of the world. One of the manifestations of the economic systems’ crisis associated with the pandemic was the reduction of the transaction sector, which determines the need to assess its impact on the Russian economy. Political-economic cause-and-effect relationships of the fight against corona virus and the state of national economies are considered by the example of the “Trump dilemma”. It was found that under strict restrictive measures imposed by most countries of the world, the most vulnerable were transaction sector businesses, primarily in the service sector. By the example of sports as a part of the “impression economy” in Russia and other countries of the world, we consider the range of negative consequences following the cancellation of sports events and the reduction of sports clubs funding.Scientific novelty: the research presents the author’s position on the existing discourse in the Russian literature on the content and scope of the transaction sector. We also recommend a way to update the choice of socio-economic alternatives to solve the problem of economic functioning under restrictions associated with the corona virus pandemic.Practical significance: the results obtained can be used as recommendations for regional authorities when evaluating and developing economic policy alternatives.

Keywords

• transaction sector
• economy under coronavirus
• import of institutions
• economy of impressions
• economy of sports