Scientific approaches to the essence of the digital economy

Kotelevets Dmytro
PhD (Economics), Doctoral Student (Economics), IHE «Academician Yuriy Bugay International Scientific and Technical University», Kyiv, E-mail:d.kotelevets21@gmail.com, ORCID ID: https://orcid.org/0000-0001-7778-6038

Cite this article:

Kotelevets D. (2021) Scientific approaches to the essence of the digital economy. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Naukovi pidkhody do traktuvannia sutnosti tsyfrovoi ekonomiky; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 9-10 (286-287), pp. 72-77.

Abstract

The relevance of the article is justified by the growing pace of the digital revolution in the world. Digital transformation of enterprises in various sectors of the national economy is accompanied by changes in business models, approaches to management and marketing, updating ways of communicating with stakeholders. Analysis of recent research and publications has revealed a relevant approach to the scientific consideration of the essence of digitalization, which could be analyzed on micro- and macroeconomic levels. The author identifies the formation of a new type of economic system - the digital economy. The aim of the article is to critically analyze and generalize scientific approaches to defining the essence of the digital economy. The article presents the results of a literature review covering the views of both foreign and domestic scientists and experts from international institutions (World Bank, International Monetary Fund, Organization for Economic Cooperation and Development). The author highlights a set of common features in the analyzed definitions of the digital economy. Within the article the author concludes that it is inappropriate to interpret the essence of the digital economy only on the basis of analysis of the technical and technological aspects. Systematization of scientific approaches to the interpretation of the digital economy has identified three typical approaches: technological (based on information and communication technologies and their implementation in various economic activities); transformational (changing business models and features of enterprises under the digitalization process); innovative / radical (formation of a new type of economy, the emergence of a new paradigm of national economy, caused by modern information technology). The author defines the innovative (radical) approach as the most relevant and reasonable, as he proposes to consider the digital economy as a new type of economic system within which the processes of production, exchange, distribution and consumption are based on modern information and communication technologies, and its main actors transfer and efficient use of information resources.

Keywords

digitalization; digital economy; information and communication technologies; digital transformation; scientific approach.

JEL classification: A100, В20, Р400; DOI: 10.32680/2409-9260-2021-9-10-286-287-72-77

UD classification: 330.101

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