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International competitive bidding and the digital economy

Author

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  • Aleksandr Nikolaevich Zakharov

    (Russian Foreign Trade Academy, Moscow, Russia)

Abstract

This article examines the relationship between international competitive bidding and the digital economy. The development of international competitive bidding and digital economy under globalization is shown. It is proved that integration of information and communication technologies in the foreign trade system in the context of globalization and the world wide web providesICT participants with a number of additional opportunities: operational decision-making based on the intra-company flow of information, expanding the range of consumers, reducing customer service costs, collecting and analyzing information on consumer preferences. Advantages of inter- national competitive bidding are considered. The article analyzes trends in e-Commerce, such as ensuring cybersecurity in enterprises and the use of cryptocurrency in international competitive bidding. The article reveals the most important aspects of the development of digital economy in modern conditions.

Suggested Citation

  • Aleksandr Nikolaevich Zakharov, 2019. "International competitive bidding and the digital economy," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 10, pages 98-105, October.
    • Handle: RePEc:alq:rufejo:rfej_2019_10_98-105
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