Title: The key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0

Authors: Vladimir S. Osipov; Elena I. Larionova; Aleksandr V. Sigarev; Vitalii V. Mishchenko

Addresses: Asset Management Department, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs Russian Federation", Moscow, 119454, Russia ' Department of Business Analytics of the Faculty of Taxes, Audit and Business Analysis, State-Funded Educational Institution of Higher Education "Financial University under the Government of the Russian Federation", Moscow, 125167, Russia; Institute for the Study of Science of the Russian Academy of Sciences, Moscow, Russia ' Department of Economic Theory, Plekhanov Russian University of Economics, Moscow, 115093, Russia; Lomonosov Moscow State University, Moscow, Russia ' International Institute of Economics, Management and Information Systems, Altai State University, Barnaul, 656049, Russia

Abstract: The purpose of the paper is to determine the key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0. The research is performed by the example of modern Russia as a typical developing country. It is shown that developing countries do not achieve unification of the types of economic activities as to the criterion of their contribution into creation of the pleasure economy in Industry 4.0. The authors distinguish five key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0: service sphere, industry, agriculture, science and education, and telecommunications. The authors also substantiate that provision of significant contribution of Industry 4.0 into formation of the pleasure economy in Russia by raising the satisfaction with labour for employees requires serious transformation of the economy's sectorial structure.

Keywords: types of economic activities; sectorial structure of economy; economy of pleasure; developing countries; Industry 4.0; digitisation; digital economy.

DOI: 10.1504/IJTGM.2021.116739

International Journal of Trade and Global Markets, 2021 Vol.14 No.4/5, pp.413 - 422

Received: 05 Feb 2020
Accepted: 31 Mar 2020

Published online: 14 Jul 2021 *

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