Features of innovative development in the world economy in the conditions of digitalization of the economy

Abstract

The issue of the correlation of local and global is one of the main problem in comprehending the development prospects of modern society. The directions of development of the world economy are quite controversial and combine two components that reflect its glocalization, that is, the result of the transformation of economic relations of various types, levels and forms. The subject of this research is the evolution of the innovative development of entrepreneurship in the context of globalization and localization. The purpose of the article is to study and clarify the essential understanding of the concept of “glocalization” and the development of the theoretical foundations of the formation of a new scenario of economic development, taking into account the trends of the digital economy. Objective: to study the etymology of the concept of glocalization and to carry out a historical excursion into the process of its diffusion; to form an idea of the complementarity of the globalization of competition and the localization of sources of competitive advantage; identify the main criteria for the formation of an effective innovation environment; argumentation of the need to create a new scenario of economic development, taking into account the trends of glocalization in the digital economy. General scientific methods of analysis and synthesis are used. The following results were obtained: it was proved that the imposition of technological and integration processes taking place in modern society require clarification of the features of innovative development. Integration of the Ukrainian economy into the global economic space requires the creation of conditions for high-tech production and innovation. Conclusions: economic and political events of recent years have substantiated the increasing relevance of glocalization and fragmentation studies. It is necessary to create a new scenario of economic development, namely, an innovative type of development. Updating the technological base of production, digitalizing the economy and building up intellectual capital is the basis of the innovative development of the economy.