Determinants of digital transformation of the national economy

Authors

DOI:

https://doi.org/10.35774/visnyk2020.04.007

Keywords:

digital transformation, digital platform, digital services, digital economy.

Abstract

Introduction. One of the main directions of ensuring the balanced development of the national economy is the digital transformation, which covers almost all spheres of life at 

the micro, meso and macro levels. An important component of the digital transformation of the economy is the service provision of its subsystems, which is carried out on the basis of a platform approach that is able to digitize social, economic and technological processes in the construction of ecosystems. In the context of the Fourth Industrial Revolution, digitalization has become a tool for commercializing the achievements of technological progress. This highlights the need to study the key determinants of digital transformation and opportunities for economic breakthrough.

The object of research is the process of digital transformation of the constituent subsystems of the national economy.

Purpose. The subject of the study is a set of scientific approaches and practical mechanisms for digitization of business processes as a factor of accelerated economic development.

Goal. The study is devoted to substantiating the conceptual foundations of the digital transformation of the national economy in the context of its accelerated development.

Methods. In the process of research general scientific methods were used: system, structural analysis, grouping in the study of structural elements and identification of factors and problems of digitization; historical analysis to consider the scientific principles and institutional mechanism of the digital transformation of the economy; comparative analysis in assessing the possibilities of implementing the service component of digitalization; economic analysis in assessing the current state of digital transformation of the national economy.

Results. The article analyzes the essential determinants of the digital transformation  of the economy, establishes the objective need to introduce digital technologies in the  real sector. The scientific novelty of the obtained results lies in the substantiation of conceptual approaches to digital transformation by detailing the forms and methods of its implementation in economic processes.

The practical significance of the obtained results is that the developed recommendations will be used to create organizational support for the digital transformation of the national economy at different levels of its functioning.

Prospects. Prospects for further research are in the plane of the use of innovative mechanisms for digitization of business processes, the introduction of virtual digital assets, the creation of effective decentralized database management systems.

Author Biography

  • Oleksandr Brechko, West Ukrainian National University
    PhD (Economics), Associate Professor, PhD student

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Published

2021-02-20

Issue

Section

NATIONAL AND REGIONAL ECONOMY

How to Cite

Brechko, Oleksandr. “Determinants of Digital Transformation of the National Economy”. Herald of Economics, no. 4(98), Feb. 2021, pp. 7-24, https://doi.org/10.35774/visnyk2020.04.007.

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