Digital transformation of the Latin American economy

Abstract

The article is devoted to the analysis of the results of digital transformation in the countries of Latin-Caribbean America (LCA) over the past 15 years. Particular attention is paid to the formation of digital ecosystem and identification of problems faced by the countries of the region in the digitalization of production processes. Despite some successes achieved in recent years and a sharp increase in demand for digital platforms and online services during the COVID-19 pandemic, progress towards the digital economy of the LCA countries is delayed, and the scale and effectiveness of using its advantages in the production sector are due to structural and socio-economic factors. There are cross-country differences in terms of access to digital technologies, which increase the differ-entiation within the LCA. Limited opportunities for financing small and medium-sized businesses, a low level of computer literacy, and the presence of an extensive informal sector remain a serious obstacle.