The Digital Economy: Opportunities and Challenges

Amuso, Valentina; Poletti, Giuliano; Montibello, Donato

doi:10.1111/1758-5899.12745

Cited by 38 publications

(17 citation statements)

References 11 publications

(14 reference statements)

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“…The government should help overcome the new DE challenges concerned with unemployment, rapid structural changes, and social inequality. In the light of the growing speed of digital transformation, governments should invest in education and other programs to realize the benefits of DE (Amuso, Poletti, Montibello, 2019). It is also related to DI, as it defines the education horizons, as well as the implementation of digital changes in the delivery of public services.…”

Section: Literature Reviewmentioning

confidence: 99%

Diffusion of Innovations as a Key Driver of the Digital Economy Development

Polyakov

Kovshun

2021

BJES

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The research objective includes detailing of the essence and structural changes of the digital economy (DE) at the national level; an explanation of the features of digital innovations; the role substantiation of diffusion of innovations (DI) as a key driver for DE development. The research methodology is based on: structural, institutional, historical, comparative, functional analysis, formalization method. The need to achieve all-encompassing digitalization nature and the systematic use of digital technologies, as well as the transition to digital models of organization through the diffusion of technologies, is taken into account. The research results are the detailing of the essence and structural features of DE. DE is considered as a new type of economy, characterized by the widespread adoption of digital technologies, cyber-physical systems, intelligent solutions, network technologies. The DE nature is revealed from the position of several approaches: technological; structural; component-resource; functional. The DE features (network nature, a new type of entrepreneurship, a new class of specialists, new institutions, etc.) are highlighted, as well as the negative consequences of the transition to such an economy; overcoming of these negative consequences requires smart policy with a focus on productivity growth, structural changes and growth incentives. The DE structure, including parts of the Internet economy (e-Commerce, e-Health, e-Education, e-Banking, etc.) and new forms of providing various services, is characterized. The IT sector growth is indicated as the DE “core”, where new jobs, infrastructure, cost are created, and the technology business is developed. The structural proportions of DE are largely determined by technological trends (on-demand economy, sharing economy, Internet of Things, etc.). Digital platforms as new intermediary mechanisms, as well as the Big Data market, are one of the key structural components of DE. The subject and features of digital innovations are highlighted. On this basis, the DI role in the DE development is substantiated, taking into account the provision of all-encompassing digitalization nature, stimulation of innovations, ensuring the benefits and economic growth, as well as the creation of economies of scale, chain and cumulative effects. Practical recommendations on the intensification of DI processes in the context of DE building include: targeted government support that concerns the IT and other sectors; establishment of technology transfer and commercialization centers, technology platforms and technology leadership programs; quality improvement of education and training; infrastructure role expanding of universities; development of research, innovation, entrepreneurial networks, professional communities, industry associations. In this context, it is necessary to strengthen support for small and medium-sized innovative businesses that should become a provider of new technologies. It is advisable to create portals for oriented R&D and adoption of technologies; knowledge management platforms during technology transfer process; industry knowledge bases; portals for experts work activity management for project evaluation. Value/originality. The article details the essence and reveals the structural features of DE, describes the specifics of digital innovations, as well as presents DI as a key driver for the development of such an economy.

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Section: Literature Reviewmentioning

confidence: 99%

Diffusion of Innovations as a Key Driver of the Digital Economy Development

Polyakov

Kovshun

2021

BJES

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“…Various scientists nowadays study the problems of digital economy development and the formation of an innovative society, among which Amuso et al [1], who analyzed the opportunities and challenges of digital economy; V. Bilozubenko et al [2], who compared the digital economy development parameters in the EU countries; Semyachkov [3], who studied the digital economy in management of modern socio-economic relations; Nosova et al [4], who studied the digital economy in Russia's modern economy. As to Ukraine, Dannikov and Sichkarenko [5] formed the conceptual principles of digitalization of Ukraine's economy; Zhekalo [6], Podolchak et al [7] analyzed the problems and prospects of development of digital economy in Ukraine.…”

Section: Literature Reviewmentioning

confidence: 99%

Digitalization of Ukraine’s Economy: Current State and Creating Competitive Advantages

Кендюхов¹,

Yahelska²,

Shakina³

2021

Proceedings of the 1st International Scientific Conference "Legal Regulation of the Digital Economy and Digital Relations: Prob

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Recently, the transition to a knowledge-based economy and information society has become increasingly dynamic, and the countries that have succeeded in mastering digitalization demonstrate economic success in the international arena and attracting attention as countries capable of meeting modern globalization challenges. This updates the study of digitalization in order to take advantage of it, minimize its risks and improve the country's position in the global environment. The article analyzes the development trends and volume of the digital economy in Ukraine, identifies obstacles to its development and substantiates the directions of creating competitive advantages of the country in modern conditions. The need for the introduction of innovative technologies has been identified, which becomes crucial for the continued existence of the country's economy, which emphasizes the need to change the principles of functioning of the economic system. The conclusion on expediency of increase of personnel, intellectual and technological advantages, formation of a flexible regulatory base for introduction of digital technologies in all spheres of life is made.

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“…A lot of researches also connects the development of human capital, parameters of labour market with digital progress (Amuso et al, 2019;Ark Van et al, 2003;Nambisan et al, 2019;Polozova, 2015;Terziyan, 2018). It will be useful to investigate the effect of digitalization process in EU-members on their progress in global rankings, such as Global Competitiveness Ranking (WEF, 2018), Human development ranking (UND, 2018), Information development Index (IDI, 2018).…”

Section: Introductionmentioning

confidence: 99%

Digital Gap in EU Countries and its Impact on Labour Productivity and Global Competitiveness

Полозова¹,

Kolupaieva²,

Шейко³

2021

Hradec Economic Days

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Nowadays digitalization has become a global trend that allows countries and individuals to get a number of benefits for economic and social development. Every country is trying to promote digital innovation through regulatory policies. However, the results of such policies vary for different countries, creating digitalization gaps. The aim of the research is to assess the gaps in digitalization process and productivity among EU-members countries, and to evaluate how such gap impact on competitiveness of the country. On the basis of DESI index and labour productivity data for EU-members four clusters were formed. Also, on the base of International DESI index and Global Competitiveness Score EU-members and seven global developed countries were divided into four clusters. As a result, leaders, perspective countries, followers and transition countries were identified reflecting the digital and labour productivity divide between them. Leading positions are occupied by North Europe countries, while number of Eastern Europe countries located at opposite side. Results of cluster analysis shows the linkage between digital development and human development due to co-movement of DESI and Human Development Index.

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The Digital Economy: Opportunities and Challenges

Abstract: Despite the increasing speed of digital innovation, governments should invest in education and life programmes to fully reap the benefits of the digital economy.

Cited by 38 publications

References 11 publications

Diffusion of Innovations as a Key Driver of the Digital Economy Development

Diffusion of Innovations as a Key Driver of the Digital Economy Development

Digitalization of Ukraine’s Economy: Current State and Creating Competitive Advantages

Digital Gap in EU Countries and its Impact on Labour Productivity and Global Competitiveness

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