Digital Economy: Approaches and Features of Development

Abstract

Digitalization acts as an integrator of Ukraine’s entry into the global economic and information space, opens up new innovative opportunities in the future. Studying the economic essence of digital economy is a particularly important strategic task for the formation of socioeconomic relations of interaction and the construction of an efficient economic system. The article conducts a comprehensive study of the essence of digital economy as an economic category and allocates eight main institutions for understanding the essence of digital economy. Namely, the conceptual vision of the digital economy is revealed as: an economy based on digital technologies (convergence of information and communication technologies, knowledge, resources); the result of the evolution and development of society, the consequence and catalyst of innovation in the economy; development of e-business and e-commerce infrastructure; a method of automation of digital data processing; the way of communication between participants in socioeconomic activities through networks and digital platforms; the network economy of flows and processes of organization of activities of enterprises and society; synthesis of real production and electronic platforms; a part of economic relations created by digital resources based on the production of electronic goods and services. On the basis of allocating the features of development of digital economy, the author’s own definition of the digital economy as an economic category is formed. It is defined that the digital economy is an activity aimed at strengthening the influence of innovative digital technologies on certain links in information, material, financial, intellectual and service flows on the basis of their integration into all processes of the enterprise’s activity and a transformation of its business model.

Keywords

• digital economy
• approaches
• transformation
• features
• development