THE DIGITAL ECONOMY: CURRENT CHALLENGES FOR ECONOMISTS AND LEGAL EXPERTS

Author

, professor, Kharkiv, Pushinska, 77
ORCID ID: 0000-0001-9895-730X

In heading

Economic theory of law;

Signed print

22.05.2018

Issues number

2018 - № 2 (33)

Page

77-90

Type of articles

Scientific article

Code UDK

340.330.11

ISSN print

2411-5584

Abstract

Problem setting. The digital economy is a result of the fourth industrial revolution and is based on global information and communication networks integrating all subjects of value creation (manufacturers, consumers, partners, customers).
Recent research and publications analysis. The digital economy as a new sphere of scientific research attracts attention of experts in various spheres. Firstly, the experts consider peculiarities of information technologies. Secondly, they ascertain the essence and forms of the digital economy. Thirdly, they reveal dependence of the digital economy on a particular stage of «long waves». Fourthly, the experts predict tendencies of its development in Ukraine. Fifthly, they prevent threats and negative externalities of the digital economy.
Paper objective. The article objective is to outline frameworks for researching the digital economy and to form its categories.
Paper main body. The logical analysis of the digital economy contemplates the following stages of development. At the first stage, the experts suggest determining specific features of the techno-economic paradigm being the basis of the digital economy. Application of electronic communications apparatus enables to form digital technologies. Defining a concept of «digital economy», scientists place emphasis on peculiarities of the technology of electrical impulse transmission. From the standpoint of economics, such definition does not comply with methodology of economic research. The use of the concept of «digital economy» is possible when it comes to production of software. In the broader sense, the digital economy is referred to as the activity conducted in any real sector that involves new technological products. A notion of «information and network economy» focused on the nature of a resource and a mechanism of organizational and economic relations is the most adequate. Technologies may be divided into the following groups: communication technologies, technologies for accumulation of information in the form of capital and technologies of cognitive payments.
At the second stage of researching the digital economy, the experts analyse changes of the content (intellectual and cognitive abilities begin to prevail) and characteristics of labour, which becomes overall, scientific and common. These changes lead to formation of human capital that contemplates gaining digital competencies.
At the third stage of researching, the experts indicate peculiar features of information resources affecting the specificity of value creation, property and market mechanisms. An information product is belonged to merit goods, consumption of which becomes fair in modified markets and modified government bodies. Owing to a rare gift of software engineers, value of the latter is stipulated by capitalization of intellectual rent. The use of an information product will lead to a regime of free access that significantly decreases social transactional costs and enables to gain the benefit from possession of this good.
At the fourth stage, economics examines the influence of information technologies on emergence of new business models. Since communication technologies lead to transformation of interrelations between people into depersonified ones, they can result in economic opportunism, i.e. the use of distorted and deceitful information.
Conclusions of the research. In the process of development of the digital economy, Ukraine may not relay on a scenario of «catch-up» economic growth through a gradual and spontaneous market mechanism for implementation of new technologies. It is necessary to develop a forced scenario grounded in principles of institutional projecting that implies changes of normative and legislative frameworks for vital activities of the society. Therefore, the legal experts receive an important challenge from the society that consists in formation of the reliable legal construction of the digital economy and elimination of legislative obstacles the digital economy faces in the process of development.
Short Abstract for an article
Аbstract. The author proposes a procedure of researching the digital economy enabling to indicate its significant features, directions of development and ways of implementation. The author analyses the specificity of digital technologies that lead to changes of the labour nature, competencies of human capital, specification of property rights as well as creation of value and business models of the economic activity.

Keywords

digital economy, digital technologies, human capital, specification of property rights.

Reviewer

External reviewer

Article in PDF

77-90

Bibliography

1. Tsyfrova ekonomika pidnime VVP Ukrainy: Hroisman pokazav ambitnyi plan [The digital economy will raise GDP of Ukraine: Groisman showed an ambitious plan]. (2017, May 16). Retrieved from https://ukr.segodnya.ua/economics/enews/cifrovayaekonomika-podnimet-vvp-ukrainy-groysman-pokazal-ambicioznyy-plany-1021198.html [in Ukrainian].
2. Kontseptsiia rozvytku tsyfrovoi ekonomiky ta suspilstva Ukrainy na 2018-2020 roky. Skhvaleno rozporiadzhenniam Kabinetu Ministriv Ukrainy vid 17.01.2018. 67-r. [The Concept of the Development of the Digital Economy and Society of Ukraine for 2018-2020. Approved by the order of the Cabinet of Ministers of Ukraine dated January 17, 2018]. Retrieved from https://uteka.ua/ua/publication/Koncepciya-razvitiya-cifrovojekonomiki-i-obshhestva-Ukrainy-na-2018-2020-gody [in Ukrainian].
3. Koliadenko, S. V. (2016). Tsyfrova ekonomika: peredumovy ta etapy stanovlennia v Ukraini i u sviti [Digital economy: preconditions and stages of formation in Ukraine and in the world]. Ekonomika. Finansy. Menedzhment: aktualni pytannia nauky i praktyky – Economy. Finances. Management: topical issues of science and practice, 6, 105-112 [in Ukrainian].
4. Semyachkov, K. A. (2017, August 28). Tsifrovaya ekonomika i eye rol v upravlenii sovremennymi sotsialno-ekonomicheskimi otnosheniyami [Digital economy and its role in the management of modern socio-economic relations]. Sovremennyye tekhnologii upravleniya – Modern management technologies, 8(80). Retrieved from http://sovman.ru/article/8001/ [in Russian].
5. Kit, L. Z. (2014). Evoliutsiia merezhevoi ekonomiky [Evolution of the network economy]. Visnyk Khmelnytskoho natsionalnoho universytetu. Ekonomichni nauky – Bulletin of the Khmelnytsky National University. Economic sciences, 3, Vol. 2, 187-194 [in Ukrainian].
6. Tsifrovaya ekonomika – ugroza dlya Ukrainy [Digital economy is a threat for Ukraine]. (n.d.). Retrieved March 13, 2018, from http://hubs.ua/business/tsifrovaya-ekonomikaugroza-dlya-ukrainy-46357.html [in Russian].
7. The World Bank Group. (n.d.). Doklad o mirovom razvitii 2016 «Tsifrovyye dividendy» [World Development Report 2016 «Digital dividends»]. Retrieved March 13, 2018, from https://openknowledge.worldbank.org/bitstream/handle/10986/23347/ 210671RuSum.pdf?sequence=16 [in Russian].
8. Tsyfrova adzhenda Ukrainy – 2020 («Tsyfrovyi poriadok dennyi» – 2020) [Digital Adzhenda of Ukraine 2020 («Digital Agenda» – 2020)]. (2016, December). Retrieved from https://ucci.org.ua/uploads/files/58e78ee3c3922.pdf [in Ukrainian].
9. Tapscott, D. (1996). The Digital Economy. McGraw-Hill.
10. Malyk, I. P. (2013). Tendentsii rozvytku informatsiinoi ekonomiky v Ukraini [Trends of information economy development in Ukraine]. Visnyk Skhidnoievropeiskoho universytetu ekonomiky i menedzhmentu – Bulletin of the East European University of Economics and Management, 1(14), 25-34 [in Ukrainian].
11. Uorner, M., & Vittsel, M. (2005). Virtualnyye organizatsii. Novyye formy vedeniya biznesa v ХХI veke [Virtual organizations. New forms of doing business in the 21st century]. Moskva: Dobraya kniga [in Russian].
12. Yudina, T. N. (2016). Osmysleniye tsifrovoy ekonomiki [Understanding the digital economy]. Elektronnyy nauchnyy zhurnal «Teoreticheskaya ekonomika» – Electronic Scientific Journal «Theoretical Economics», 3, 12-16 [in Russian].
13. Liashenko, V. I., & Vyshnevskyi, O. S. (2018). Tsyfrova modernizatsiia ekonomiky Ukrainy yak mozhlyvist proryvnoho rozvytku [Digital modernization of the Ukrainian economy as an opportunity for breakthrough development]. Kyiv: In-t ekonomiky promyslovosti NAN Ukrainy [in Ukrainian].
14. Hrytsenko, A. A. (2017). Arkhitektonika ekonomichnoi bezpeky [Architectonics of economic security]. Kyiv: In-t ekonomiky ta prohnozuvannia [in Ukrainian].
15. Danilenkov, A. V. (2014). Internet-pravo [Internet law]. Moskva: Yustitsinform. Retrieved from https://books.google.com.ua/books?id=WR5OBAAAQBAJ&pg=PT9 &lpg=PT9&dq=интернет++как+фундаментальное+право&source=bl&ots=I1eh24 nXlI [in Russian].
16. Kognitivnaya sistema IBM Watson: printsipy raboty s estestvennym yazykom [IBM Watson cognitive system: principles of working with natural language]. (2015, September 03). Retrieved from https://habrahabr.ru/company/ibm/blog/266015/ [in Russian].
17. New Forrester Consulting Study: The Contextual Marketing Imperative. (n.d.). Retrieved March 13, 2018, from https://hybris.com/en/downloads/analystcommissioned-research/forrester-contextual-marketing-imperative/724 .
18. Baranova, N. (2017, March 28). Prediktivnaya analitika: chto eto takoye i pochemu NKO vazhno eye ispolzovat [Predictive analytics: what it is and why it is important for NGOs to use it]. Retrieved from https://te-st.ru/2017/03/28/predictive-analyticsfor-ngo/ [in Russian].
19. Kalabrezy, H. (2016). Buduschee prava i ekonomiki. Ocherki o reforme i razmyishleniya [The future of law and economics. Essays on Reform and Reflections]. Moskva: Izd-voInstituta Gaydara [in Russian].
20. Kornivskaya, V. (2017). Bitkoin i blokcheyn skvoz prizmu glubinnykh usloviy finansovogo i sotsialno ekonomicheskogo razvitiya [Bitcoin and blockade through the prism of the deep conditions of financial and socio-economic development]. Ekonomicheskaya teoriya – Economic Theory, 4, 60-76 [in Russian].

16.04.2018