For citation:
Valko, D. V. (2021). Development of Sharing Economy and its Impact on Economic Growth. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 18(1), 56-68, https://doi.org/10.31063/2073-6517/2021.18-1.4
Abstract:
This paper explores the potential of the sharing economy and the impact of current transformations in the sphere of shared consumption on economic growth and general welfare. The aim of the paper is to test the hypothesis about the possible negative impact of the sharing economy on economic growth and public welfare despite the growth in individual welfare. The study relies on the theory of economic growth, empirical evidence and expert assessments of the impact of the sharing economy on public welfare and economic growth. Expert and statistical data from the World Bank Group, World Economic Forum, RAEC, RBC, etc. on the development of this sector in Russia and in the world are cited; individual cases and examples are discussed. The conclusion is made that the prospects of development of the sharing economy and its impact on economic development, growth and general welfare significantly depend on the effectiveness of local regulation. The traditional methodology of economic growth accounting related to the ownership of newly created value should be reconsidered. This paper may be useful for further research on the sharing economy and public welfare in the digital and circular economy.
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