Journal of Management Information and Decision Sciences (Print ISSN: 1524-7252; Online ISSN: 1532-5806)

Abstract

Impact of the digital economy on the economic development of the country

Author(s): Elshad Yagub oglu Mammadov, Esmira Mirmammad gizi Ahmadova

 Recently, the role of modern ICT technologies and innovations in the development of the national economy of developed countries has been increasing. Modern technologies make it possible to increase the efficiency of production and work processes in economic spheres. The term "digital economy" has entered the field of science in recent years. The digital economy is an economy based on the application of information and communication technologies in the economic sphere.

The role of digital technology can be seen both globally and locally. The digital economy is a rapidly growing part of the global economy as a collection of new economic sectors. In recent years, the development of modern technologies has led to the emergence of large markets for internet network services, mobile communications, the online gaming industry and others. The digital economy is mainly based on the development of a number of markets directly related to mobile and digital technologies. The digital economy will be more dependent on the traditional economy in the next 15-20 years. At the present stage of development of digital technologies and the current state of markets, the digital economy should be considered not as a goal, but as a means of increasing the efficiency of economic activity. The modern digital economy demonstrates the need to change management mechanisms in accordance with changing trends and puts forward new business models. The adoption of digital technologies in some industries is particularly fast.

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