Digital Economy: Impact on the Socio-economic Transformation in Ukraine

Nina Chala,Oksana Poplavska

doi:10.18523/2519-4739.20205.1.124-130

Abstract

Having studied the subject matter of Digital economy as a phenomenon, the authors came to the conclusion that it should be considered as a manufacturing and economic system; it is implemented in conditions of redundancy and availability of information, possessing the features of the knowledge economy. Having identified the key role of the state – improving the quality of human resources and increasing the social responsibility of business and society, the authors recommend estimating the impact of Digital economy on the labor market and socio-labor relations in terms of maintaining social security and meeting the development criteria of Economy 4.0. The suggested criteria include economic viability; involvement in the digital economy and knowledge economy; social security; transparency; sustainability. Having identified and estimated the social challenges, the authors noted the most acute, among them, the lack of staff with necessary expertise. JEL classіfіcatіon: J07, O1:O52 Manuscript received 24.03.2020

Highlights

Introduction and the research problemThe digital economy is increasingly influencing the socio-economic development of all countries in the world
Today it is clear that only countries that are adapting to the challenges of the digital economy and globalization are capable of witnessing economic growth and improving the quality of life of the population
One should understand that the focus on digital technologies alone is insufficient; it is vital to use all components of the knowledge economy

Summary

IN UKRAINE

Having studied the subject matter of Digital economy as a phenomenon, the authors came to the conclusion that it should be considered as a manufacturing and economic system; it is implemented in conditions of redundancy and availability of information, possessing the features of the knowledge economy. One should understand that the focus on digital technologies alone is insufficient; it is vital to use all components of the knowledge economy It is a productive activity of society that has a socio-economic effect on both society as a whole and individual households in particular; it is represented by digital goods and services, technologies, organizational and management decisions. Digital economy is a production and economic system implemented in conditions of redundancy and availability of information and its resources to each market player (increasing risks associated with information security, the need to verify reliability of information, loss of confidence or growth of brand costs) with the necessary interaction between state, corporations (business) and civil society.

The impact vector for actors

Findings

Conclusions