IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/116110.html
   My bibliography  Save this paper

Digital Economy and Its Components: A Brief Overview and Recommendations

Author

Listed:
  • Nguyen, Oliver

Abstract

The term "digital economy" refers to the use of information technology to create, adapt, market and consume goods and services that are based on the use of information technology, in order to make money. A number of digital research areas have been explored in the past few years, including digital banking, e-commerce, virtual education, smartphone apps, and collaboration platforms. During the past few decades, there has been no doubt that the world we live in has been changing steadily in many ways. Among the key factors that have driven these changes has been the Digital Revolution, which is one of the key drivers of these changes. It would be more accurate to say that the purpose of digital transformation is not to search for unicorns on the Internet, but rather to use the newest technology to do what you do already in a more efficient and effective manner. As a result of digital technologies, many countries are in a position to enhance their competitiveness and promote economic growth by increasing their use of these technologies. As a definition, the digital economy refers to the economic activity that results from billions of online connections that occur every day between people, businesses, devices, data, and processes. A key component of the digital economy is hyper connectivity, which is the increasing interconnection of people, organisations, and machines that is a result of the Internet, mobile technology, and the internet of things (IoT). There is no doubt that the digital economy is taking shape and upending conventional notions about how businesses are structured; how they interact; and how they provide services, information, and goods to consumers.

Suggested Citation

  • Nguyen, Oliver, 2023. "Digital Economy and Its Components: A Brief Overview and Recommendations," MPRA Paper 116110, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:116110
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/116110/1/MPRA_paper_116110.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Siddhartha Paul Tiwari, 2022. "Knowledge Enhancement and Understanding of Diversity," Technium Social Sciences Journal, Technium Science, vol. 30(1), pages 159-163, April.
    2. Tiwari, Siddhartha Paul, 2022. "Re-emergence of Asia in the New Industrial Era," SocArXiv g9tv5, Center for Open Science.
    3. Siddhartha Paul Tiwari, 2022. "Re-emergence of Asia in the New Industrial Era," Technium Social Sciences Journal, Technium Science, vol. 29(1), pages 471-480, March.
    4. Willem H. Buiter & James Tobin, 1978. "Fiscal and Monetary Policies, Capital Formation, and Economic Activity," Cowles Foundation Discussion Papers 512, Cowles Foundation for Research in Economics, Yale University.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Toma Sorin-George & Gradinaru Catalin & Modreanu Andra, 2023. "The Evolution Of The Digital Economy In Romania In The Period 2019-2022," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 205-210, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Heikkinen, Daan, 2023. "The Need for Green Data Centers in Modern Society: Technology, Economy and Environmental Sustainability," MPRA Paper 116245, University Library of Munich, Germany.
    2. Aria, Dr, 2021. "Technological Innovation and Corporate Entrepreneurship: A Study," MPRA Paper 116344, University Library of Munich, Germany.
    3. Oliver, Dr, 2023. "Economic impact of the digital revolution on the Asian economy," MPRA Paper 116052, University Library of Munich, Germany.
    4. Driskell, David, 2022. "Strategies for sustainable data centers: technology and sustainability in modern society," MPRA Paper 115434, University Library of Munich, Germany.
    5. Zhang, Shoucheng, 2022. "Impact of the Agricultural Supply Chain on Society: A Post-Covid Analysis," MPRA Paper 115355, University Library of Munich, Germany.
    6. Singh Tomar, Ashish, 2022. "The Socio-Economic Challenges Facing Asia Due to Insufficient Earnings and Employment," MPRA Paper 115540, University Library of Munich, Germany.
    7. Dayal Saraswat, Kinshuk, 2022. "Technology-Based Risk Management for Rural Sectors and Natural Disasters in Developing Countries," MPRA Paper 115480, University Library of Munich, Germany.
    8. Maestracci, Aria, 2023. "An Examination of the Economic and Social Impacts of Corporate Innovation and Interventions," MPRA Paper 116932, University Library of Munich, Germany, revised 03 Feb 2023.
    9. Maestracci, Aria, 2023. "Developing a framework for scaling M-governance in Asia: Issues and Challenges," MPRA Paper 116952, University Library of Munich, Germany.
    10. Heikkinen, Daan, 2023. "Changes In Learning Behaviors Post Pandemic: A New Era In Learning Economy," MPRA Paper 116912, University Library of Munich, Germany.
    11. Sharma, Rahul, 2022. "Transformation of rural areas through the use of technology: opportunities for women and youth," MPRA Paper 115336, University Library of Munich, Germany.
    12. Singh Tomar, Arun, 2022. "An Analysis of the Development of a Smart, Environmentally Friendly, and Technologically Sustainable City: A Necessity for the Future," MPRA Paper 115451, University Library of Munich, Germany.
    13. Goyal, Krishna, 2022. "An Analysis of the Effects of Service Quality on Society of Mobile Technology Applications Used by Banks," MPRA Paper 115366, University Library of Munich, Germany.
    14. Singhal, Bhoomika, 2022. "Using artificial intelligence to benefit society in Asia: opportunities and challenges," MPRA Paper 115421, University Library of Munich, Germany.
    15. Siddhartha Paul Tiwari, 2022. "Knowledge Enhancement and Understanding of Diversity," Technium Social Sciences Journal, Technium Science, vol. 30(1), pages 159-163, April.
    16. Banasiewicz, George, 2022. "New media technologies, fake news, and disinformation: challenges for the society," MPRA Paper 115282, University Library of Munich, Germany.
    17. Sharma, Devashish, 2022. "The use of technology to counter frauds and scams for the benefit of society: a detailed study," MPRA Paper 115323, University Library of Munich, Germany.
    18. Preminger, Ambrose Jude, 2022. "Study Examining New Technologies and Sustainable Development with a Focus on Social Entrepreneurship," MPRA Paper 115295, University Library of Munich, Germany.
    19. Zhang, Shoucheng, 2022. "Procurement technology and its impact on the economy: harnessing the power of sustainable procurement," MPRA Paper 115840, University Library of Munich, Germany.
    20. Clayton, Bernard, 2022. "The Role of Technology and Mobile Governance in Today’s Society: Analyzing How Apps Are Used in Governance," MPRA Paper 115265, University Library of Munich, Germany.

    More about this item

    Keywords

    Digital economic development; digitisation and economic impact; digitisation for competitiveness; Economy and digital journey;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:116110. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.