IDEAS home Printed from https://ideas.repec.org/a/bal/journl/2256-074220239422.html
   My bibliography  Save this article

Informatisation Of The Digital Economy As The Main Trend Of Exponential Development

Author

Listed:
  • Victoria Marienko

    (Engineering Institute of Zaporizhzhia National University, Ukraine)

  • Vitalina Nikitenko

    (Engineering Institute of Zaporizhzhia National University, Ukraine)

  • Valentina Voronkova

    (Engineering Institute of Zaporizhzhia National University, Ukraine)

Abstract

The relevance of studying the informatisation of the digital economy as the main trend of modern development is beyond doubt, since the digital economy represents the main trend of digitalisation. Therefore, the world's largest developed countries consider the development of the digital economy as one of the important strategies for increasing national competitiveness, promoting economic growth and social development. The digitalisation of the economy is a fundamental and transformative trend in the world of technology and business. It encompasses the convergence of digital technologies with economic activity, leading to a profound impact on industries, societies and people's lives. The purpose of the study is to examine the theoretical and practical aspects of digitalisation of the digital economy as the main trend of modern development. Metodology. The paper uses the following methods and approaches: cross-cultural, systemic, structural-functional, institutional, anthropological and axiological, as well as general scientific methods - allowing to effectively analyse the ways of using digitisation to create new benefits. The article uses a data-centric approach to the analysis of information provision at an enterprise for the purpose of change management, which includes methods of collecting, structuring, documenting and reusing basic data generated by the change management processes. Results. The article elaborates on the directions of development of the digital economy as an economic form of big data; the directions of exponential development of information and trust in information sources; reveals the informatisation of the digital economy as the main trend of modern digital development. Practical implication. The informatisation of the digital economy creates both opportunities and challenges. Companies, governments and individuals must proactively adapt to this trend by adopting technology, prioritising data management, developing digital skills and adhering to ethical and responsible practices to unlock the full potential of the digital economy. The digitalisation of the economy is a transformative force with far-reaching implications. It represents a new era of rapid change and innovation, offering opportunities for growth and efficiency, but also creating challenges that require careful navigation. As this trend continues to evolve, it will shape the future of industries, economies and societies around the world.

Suggested Citation

  • Victoria Marienko & Vitalina Nikitenko & Valentina Voronkova, 2023. "Informatisation Of The Digital Economy As The Main Trend Of Exponential Development," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 9(4).
  • Handle: RePEc:bal:journl:2256-0742:2023:9:4:22
    DOI: 10.30525/2256-0742/2023-9-4-178-183
    as

    Download full text from publisher

    File URL: http://www.baltijapublishing.lv/index.php/issue/article/view/2215/2214
    Download Restriction: no

    File URL: http://www.baltijapublishing.lv/index.php/issue/article/view/2215
    Download Restriction: no

    File URL: https://libkey.io/10.30525/2256-0742/2023-9-4-178-183?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Satish Nambisan & Shaker A. Zahra & Yadong Luo, 2019. "Global platforms and ecosystems: Implications for international business theories," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(9), pages 1464-1486, December.
    2. Maxim Polyakov & NataliÑ–a Kovshun, 2021. "Diffusion Of Innovations As A Key Driver Of The Digital Economy Development," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 7(1).
    Full references (including those not matched with items on IDEAS)

    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. Jinqiu He & Huiwen Su, 2022. "Digital Transformation and Green Innovation of Chinese Firms: The Moderating Role of Regulatory Pressure and International Opportunities," IJERPH, MDPI, vol. 19(20), pages 1-21, October.
    2. Christina Theodoraki & Alexis Catanzaro, 2022. "Widening the borders of entrepreneurial ecosystem through the international lens," The Journal of Technology Transfer, Springer, vol. 47(2), pages 383-406, April.
    3. Maria Rumyantseva & Catherine Welch, 2023. "The born global and international new venture revisited: An alternative explanation for early and rapid internationalization," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1193-1221, September.
    4. Satish Nambisan & Yadong Luo, 2021. "Toward a loose coupling view of digital globalization," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(8), pages 1646-1663, October.
    5. Cenamor, Javier, 2021. "Complementor competitive advantage: A framework for strategic decisions," Journal of Business Research, Elsevier, vol. 122(C), pages 335-343.
    6. Delios, Andrew & Li, Jiatao & Schotter, Andreas P.J. & Vrontis, Demetris, 2024. "Challenging the orthodoxy in international business research: Directions for “new” research areas," Journal of World Business, Elsevier, vol. 59(4).
    7. Bu, Juan & Cuervo-Cazurra, Alvaro & Luo, Yadong & Wang, Stephanie Lu, 2024. "Mitigating soft and hard infrastructure deficiencies in emerging markets," Journal of World Business, Elsevier, vol. 59(4).
    8. Dirk Ulrich Gilbert & Stephanie Schrage & Michael Behnam, 2024. "Advancing the Moral legitimacy of digital platforms as gatekeepers: a critical analysis from a political corporate social responsibility perspective," Journal of Business Economics, Springer, vol. 94(7), pages 1115-1145, October.
    9. Jean, Ruey-Jer “Bryan” & Kim, Daekwan & Cavusgil, Erin, 2020. "Antecedents and outcomes of digital platform risk for international new ventures’ internationalization," Journal of World Business, Elsevier, vol. 55(1).
    10. Hou, Hong & Shi, Yongjiang, 2021. "Ecosystem-as-structure and ecosystem-as-coevolution: A constructive examination," Technovation, Elsevier, vol. 100(C).
    11. Hosanoo, Zuberia & Patel, Parth & Prikshat, Verma & Kanungo, Rama Prasad & Gupta, Surkasha, 2024. "Focal firms and interorganisational relationships in small economies: Towards a multi-level theoretical framework for enhancing value co-creation and performance," Journal of International Management, Elsevier, vol. 30(3).
    12. Klaus E. Meyer & Jiatao Li & Keith D. Brouthers & Ruey-Jer ‘‘Bryan’’ Jean, 2023. "International business in the digital age: Global strategies in a world of national institutions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(4), pages 577-598, June.
    13. Eugénie Coche & Ans Kolk & Václav Ocelík, 2024. "Unravelling cross-country regulatory intricacies of data governance: the relevance of legal insights for digitalization and international business," Journal of International Business Policy, Palgrave Macmillan, vol. 7(1), pages 112-127, March.
    14. Shaheer, Noman & Kim, Kijong & Li, Sali, 2022. "Internationalization of Digital Innovations: A Rapidly Evolving Research Stream," Journal of International Management, Elsevier, vol. 28(4).
    15. Adomako, Samuel & Amankwah-Amoah, Joseph & Tarba, Shlomo Y. & Khan, Zaheer, 2021. "Perceived corruption, business process digitization, and SMEs’ degree of internationalization in sub-Saharan Africa," Journal of Business Research, Elsevier, vol. 123(C), pages 196-207.
    16. Enderwick, Peter & Buckley, Peter J., 2021. "The role of springboarding in economic catch-up: A theoretical perspective," Journal of International Management, Elsevier, vol. 27(3).
    17. Martín Martín, Oscar & Chetty, Sylvie & Bai, Wensong, 2022. "Foreign market entry knowledge and international performance: The mediating role of international market selection and network capability," Journal of World Business, Elsevier, vol. 57(2).
    18. Alain Verbeke & Hadi Fariborzi, 2019. "Celebrating 50 Years of JIBS: Anniversary Issue and Medal Awardees," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(9), pages 1441-1447, December.
    19. Liena Kano & Eric W. K. Tsang & Henry Wai-chung Yeung, 2020. "Global value chains: A review of the multi-disciplinary literature," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(4), pages 577-622, June.
    20. Šilenskytė, Aušrinė & Butkevičienė, Jurgita & Bartminas, Andrius, 2024. "Blockchain-based connectivity within digital platforms and ecosystems in international business," Journal of International Management, Elsevier, vol. 30(3).

    More about this item

    Keywords

    informatisation; digital economy; big data; digitisation; information technology;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

    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:bal:journl:2256-0742:2023:9:4:22. 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: Anita Jankovska (email available below). General contact details of provider: .

    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.