Economic Development In The Digital Age

This report documents how the ongoing digital transformation is affecting people’s lives across the 11 key dimensions that make up the How’s Life? Well-being Framework (Income and wealth, Jobs and earnings, Housing, Health status, Education and skills, Work-life balance, Civic engagement and ...

This book argues that digital globalization is inducing deep and productive transformations, making industrial policy necessary in order to reorientate development towards inclusive and more sustainable growth. The book also demonstrates that industrialization remains an important development process for emerging countries. Regarding the future of jobs, the authors show how the substitution of labour in automation is not inevitable since technology is also complementary to human capital. Policymakers should pay more attention to the new skills that will be required. A particular concern is is the rapid change in technology and business compared to institutions which take time to adapt. Territories have an important role to play in order to speed-up institutional adaptation, providing they can act coherently with the other levels of government.

This proceedings book presents the outcomes of the VII International Scientific Conference “Digital Transformation of the Economy: Challenges, Trends, New Opportunities”, which took place in Samara, Russian Federation, on April 26–27, 2019. Organized by the Samara State University of Economics, the conference chiefly focused on digital economy issues, such as theoretical preconditions for the development of economic systems in the digital age and specific practical issues related to real-world business practice. Consisting of six chapters corresponding to the thematic areas of the conference, and written by scientists and practitioners from different regions of Russia, Kazakhstan, the Czech Republic and Germany, the book offers answers to the most pressing questions for today’s business community: - How is our world changing under the influence of digital technology? - Is sustainable economic development a myth or reality in the context of digitalization? - What threats and opportunities does digitalization bring? - What are realities and prospects of digitalization in the context of business practice? - How do we create a digital infrastructure for the economy? - How should the legal environment of the economy be transformed in the context of digitalization? The conclusions and recommendations presented are not recipes for solving the existing economic problems, but instead are intended for use in further research on transformation processes in the economy and in the development of state economic policies in various countries and regions.

Addressing the big questions about how technological change is transforming economies and societies Rapid technological change—likely to accelerate as a consequence of the COVID-19 pandemic—is reshaping economies and how they grow. But change also causes disruption, creates winners and losers, and produces social stress. This book examines the challenges of digital transformation and suggests how creative policies can make it more productive and inclusive. Shifting Paradigms is the second book on technological change produced by a joint research project of the Brookings Institution and the Korea Development Institute. Contributors are experts from the United States, Europe, and Korea. The first volume, Growth in a Time of Change, was published by Brookings in February 2020. The book's underlying thesis is that the future is arriving faster than expected. Long-accepted paradigms about economic growth are changing as digital technologies transform markets and nearly every aspect of business and work. Change will only intensify with advances in artificial intelligence and other innovations. Investors, business leaders, workers, and public officials face many questions. Is rising market concentration inevitable with the new technologies or can their benefits be more widely shared? How can the promise of FinTech be captured while managing risks? Should workers fear the new automation? Are technology-driven shifts in business and work causing income inequality to rise? How should public policy respond? Shifting Paradigms addresses these questions in an engaging manner for anyone interested in understanding how the economic and social agenda is being transformed by today's winds of change.

There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain poorly understood. This volume aims to set the agenda for research in the economics of digitization, with each chapter identifying a promising area of research. "Economics of Digitization "identifies urgent topics with research already underway that warrant further exploration from economists. In addition to the growing importance of digitization itself, digital technologies have some features that suggest that many well-studied economic models may not apply and, indeed, so many aspects of the digital economy throw normal economics in a loop. "Economics of Digitization" will be one of the first to focus on the economic implications of digitization and to bring together leading scholars in the economics of digitization to explore emerging research.

With a background of technological and communication innovations, socialization research, particularly as it refers to cultural and academic learning, has become increasingly connected with the business and economic aspects of global societies. Nationalism, Cultural Indoctrination, and Economic Prosperity in the Digital Age examines the doctrines that society is expected not to question, particularly the influence these beliefs have on business and the prosperity of the world as a whole. This book is an essential resource for business executives, scholar-practitioners, and students who need a multidisciplinary approach to the effects of culture on cognitive strategies and professional methodologies.

The digital age is a modern stage of the development of society and economy, which started with the wide use of the first digital technologies (Internet, mobile communication) and reached its peak amid the Fourth Industrial Revolution due to the dissemination of smart technologies (the Internet of Things, artificial intelligence). The digital age has the highest rate of technological progress in the entire history of industrial revolutions, which predetermines two specific features of this age. The first specific feature is as follows: unlike the previous industrial revolutions, when, despite certain companies' transition to new technologies, other companies - due to the traditional thinking of society - preserved the previous technological mode for a long time, the society progressed together with economy. Digital technologies transform not only the processes of production but also the processes of distribution and consumption of products. The growing demand for digital innovations is strong pressure on the market, which does not allow companies to remain aside from the Fourth Industrial Revolution. The second specific feature is that digitalization takes place in waves - continuously and over and over again. This is the difference between the Fourth Industrial Revolution and the previous revolutions when the technological transition was momentary and single-step. Due to this specific feature, there emerged a hypothesis that the digital age could have not one but several industrial revolutions. Followers of this hypothesis suggest considering technological progress in the macro-scale, distinguishing the pre-digital age, which was the time of the first three industrial revolutions, and the digital age, which was opened by the Fourth Industrial Revolution. Regardless of the level of the view of the digital age, it is obvious that it requires continuous, step-by-step digital innovations. This book's contribution to the literature on digital innovations is due to offering a new scientific and methodological approach to managing innovative development in the digital age. The main feature of the new approach is active, continuous, and comprehensive interaction between government, society, and entrepreneurship. The advantage of the new approach is the increase of effectiveness of state and corporate management of innovative development, as well as accelerated and well-balanced adaptation of society to the digital age. This book is aimed primarily at scholars studying digital innovations. For them, the book offers fundamental developments, empirical overview, case studies, and scientific and methodological recommendations in the sphere of innovative development of state and law, society, and economy in the digital age. Due to its multidisciplinary character, the book will also be of interest to the representatives of various humanitarian disciplines: legal, social, and economic. The book will be also of interest for practicing experts involved with the practice of corporate management and for bodies of public administration of innovative development in the digital age. For them, the book offers various issues of economic and legal regulation of innovative development in the digital age, due to which it could be a theoretical and methodological guide for improving this management.