Refinery Analysis

The main purpose of this research was to examine the key metrics of the Russian digital economy and influencing factors affecting the digital economy development in Russia during the period of 2010-2020. One-way ANOVA was conducted to compare the three indicators of e-government. Results from LSD statistics indicated that there was a significant difference between the telecommunications indexes and human capital. The correlation matrix of economic influencing factors in Russia in terms of ICT application revealed that there has been a balance between the various economic sectors. Results of the Kruskal–Wallis test demonstrated that there was a significant difference between Russian financial institutions in terms of cyber-attacks. Based on the refinery methods of factor analysis, Pearson's correlation coefficient, and multiple regression model, five variables GDP, GDP per capita, R&D expenditure, cyber security, and consumer price index were removed from the analysis, and the results showed that the human capital has a significant positive impact on the development of the digital economy in Russia. Despite the significant explanatory role of the human capital index, this study strongly recommended considering the other variables, both predictive and control variables, to explain the variance in the development of digital economy in Russia.