Digital Economy in a Global Context: World Experience

Abstract

Purpose: The purpose of the academic paper is to highlight the principal directions and trends of the world experience in developing the economic sphere’s digital component. Theoretical framework: The processes related to digitalizing all branches of the world economy are irreversible components of the evolutionary development of the modern global economy. In current realities, the overriding priority in the economic sphere is the development of innovations and digital technologies using all their advantages regarding expanding the information component of enterprises’ activities, creating information assets, minimizing risks, the possibility of remote cooperation and the reduction of transaction costs, the ability to quickly respond to existing security, competitive, and other types of challenges. Design/methodology/approach: System-structural, comparative, logical-linguistic methods, analysis, synthesis, induction, and deduction in the processing scientific information, abstraction, and idealization for studying and processing of statistical and analytical data were used during the research. Findings: Based on the research results, the concepts and components of the digitalization of the economic sphere, the main prerequisites, patterns and directions of developing digital economy in recent years were studied from the perspective of evaluating the global experience of this process. Research, Practical & Social implications: The theoretical part of the research substantiates the relevance, concepts, components and main stages of developing the digital economy in the global context. The practical part of the research includes the features of distributing countries that are best prepared for the new digital economy according to the NRI rating based on the results of 2020, as well as by groups that are separate components of this index, namely, by the level of technology development, human capital, management level and degree impact on the world economic arena. Originality/value: According to the analysis of the scientific literature on the research topic, in order to achieve success in the field of digital transformation of modern business, it is necessary to purposefully build its work, relying on the latest achievements of the digital environment and using all the possibilities of the digital infrastructure.