Open AccessDigital Development of the Economy and its Role in Improving the Competitiveness of Ukraine at the International Level
Author(s) -
Olena Akymenko,
Petrovska Alina,
Zholobetska Maryna,
Skrytskyi Dmytro
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.c1011.1183c19
Subject(s) - digital economy , business , digital transformation , industrial organization , productivity , government (linguistics) , legislature , economic system , economics , computer science , political science , economic growth , linguistics , philosophy , world wide web , law
The article explores digital development and determines its role in improving the competitiveness of Ukraine. The definition of the digital economy has been given as an economy where the key factors and means of production are digital data (binary, information, etc.) and network transactions, as well as their use as a resource, which can significantly increase the efficiency and productivity of activities and value for products and services received. It has been outlined the reasons for Ukraine's lag in the implementation of digitalization, namely: political and regulatory environment; low efficiency of Ukrainian legislative bodies, judicial system; problems with protection of intellectual property; low level of introduction of new technologies by business; low impact of IT on the emergence of new business models; outflow of human capital. The principles of digitalization have been analyzed. It has been proved the expediency of choosing the target development scenario by the state: the main motivation of Ukraine is ability of digital technologies to rapid increase in productivity and efficiency of economy and business (which leads to complete transformation of the old system and modernization due to digital technologies); a key strategy is a focus on the internal market; key initiatives are formation of motivation, demand, and digital needs for digital technologies among consumers (business, government, and citizens).