Sharing Economy: the Business Model of the Digital Economy in the COVID-19 Period

219
DOI: 10.20542/0131-2227-2021-65-5-87-94
L. Belova (lgbelova@bk.ru),
Lomonosov Moscow State University (MSU), 1 building 46, Leninskie Gory, Moscow, 119991, Russian Federation

Received 17.09.2020.

Abstract. The author undertakes an attempt to analyze the impact of the COVID‑19 pandemic on the phenomenon of the sharing economy and the viability of this business model in force majeure circumstances. The sharing economy is a business model of the digital economy, born by the fourth industrial revolution during the Great Recession of 2008 and developing in the context of the unprecedented economic crisis of 2020, when the impact of the coronavirus pandemic simultaneously collapsed production, financial markets and consumer demand for goods and services, and the task of “conscious consumption” – to spend money correctly and reduce costs – became vital. The concept does not focus on ownership but rather on the sharing of assets and resources. A predictive construct is given: the sharing economy is not so much the introduction of new technologies to implement the world-old idea of renting on digital platforms, but a new paradigm of production and consumption and as such leads to a circular economy, causes systemic changes that form qualitatively new principles of business organization, the economy and society as a whole. The study concluded that the sharing model has proven its viability not only in a period of stable economic development, but also in a contemporary crisis, which is caused by the COVID‑19 pandemic. Moreover, it was during this period of force majeure that the sharing economy model showed its importance both in everyday life and in business. This allows us to conclude about the further growth of the sharing economy, the creation of new services – both in spite of and thanks to the COVID‑19 pandemic.

Keywords: digital economy, sharing economy, cyclical economy, collaborative consumption, technological challenges


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For citation:
Belova L. Sharing Economy: the Business Model of the Digital Economy in the COVID-19 Period. World Eonomy and International Relations, 2021, vol. 65, no. 5, pp. 87-94. https://doi.org/10.20542/0131-2227-2021-65-5-87-94



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