Digital Economy and Its Components: A Brief Overview and Recommendations

Nguyen, Oliver (2023): Digital Economy and Its Components: A Brief Overview and Recommendations. Published in: Wilkie Edge Publishers , Vol. 2, No. 1 (7 January 2023): pp. 17-22.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Digital economic development, digitisation and economic impact, digitisation for competitiveness, Economy and digital journey
• Subjects: L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization ; Manufacturing and Service Industries ; Choice of Technology; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O32 - Management of Technological Innovation and R&D; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes

References

Bailey, Geoff. "Concepts, time-scales and explanations in economic prehistory." Economic archaeology 96 (1981): 97-117.

Baisya, Rajat K., and Siddhartha Paul Tiwari. "E-governance Challenges and Strategies for Better-managed Projects." Emerging Technologies in E-Government (2008): 203-208.

Buiter, Willem H., and James Tobin. "Fiscal and monetary policies, capital formation, and economic activity." (1978).

Burchinal, Lee G. "The communications revolution: America's third century challenge." European Conference on Information Literacy (ECIL). 1976.

Connor, Denis J. "Network Distribution of Digital Television Signals." Digital Video Volume 3: 14th SMPTE Television Conference. SMPTE, 1980.

Douglas, David H. "Experiments to locate ridges and channels to create a new type of digital elevation model." Cartographica: The International Journal for Geographic Information and Geovisualization 23.4 (1986): 29-61.

Feld, M. D., et al. "Revolution and Reaction in Early Modern EuropeCapitalism and Material Life: 1400-1800The Dutch Rural Economy in the Golden Age, 1500-1700. The German Military Entrepreneur and his Work Force: A Study in European Economic and Social History. The Modern World System: Capitalist Agriculture and the Origins of the European World Economy in the Sixteenth Century. The Imperial Theme in the Sixteenth Century." Journal of the History of Ideas 38.1 (1977).

Goddard, John B., and Andrew E. Gillespie. "Advanced telecommunications and regional economic development." Geographical Journal (1986): 383-397.

Hepworth, Mark E. "Geography of the information economy." NETCOM: Réseaux, communication et territoires/Networks and communication studies 4.1 (1990): 266-267.

Hirschman, Albert O. Journeys toward progress. Studies of economic policy-making in Latin America. WW Norton, 1973.

Jager, F. de, and C. Dekker. "Tamed frequency modulation, a novel method to achieve spectrum economy in digital transmission." IEEE Transactions on Communications 26.5 (1978): 534-542.

Kauffman, Robert J., and Peter Weill. "An evaluative framework for research on the performance effects of information technology investment." (1989).

Kundi, Ghulam Muhammad, and Bahadar Shah. "eBusiness in Pakistan: opportunities and threats." The Journal of Internet Banking and Commerce 12.3 (1970): 1-23.

Lucas Jr, Henry C., and Jon A. Turner. "A corporate strategy for the control of information processing." (1981).

Lynn, P. A. "Recursive digital filters for biological signals." Medical & biological engineering 9.1 (1971): 37-43.

Mahmoud, M. "Experience results and techno-economic feasibility of using photovoltaic generators instead of diesel motors for water pumping from rural desert wells in Jordan." IEE Proceedings C (Generation, Transmission and Distribution). Vol. 137. No. 6. IET Digital Library, 1990.

Murota, Kazuaki, and Kenkichi Hirade. "GMSK modulation for digital mobile radio telephony." IEEE Transactions on communications 29.7 (1981): 1044-1050.

National Research Council. Population growth and economic development: Policy questions. 1986.

Nabona, N., and L. L. Freris. "Optimisation of economic dispatch through quadratic and linear programming." Proceedings of the Institution of Electrical Engineers. Vol. 120. No. 5. IET Digital Library, 1973.

Ordeshook, Peter C., Randall Calvert, and Thrainn Eggertsson. Perspectives on positive political economy. Cambridge University Press, 1990.

Raja, John, and A. Seetharaman. "E-payments: Problems and Prospects." The Journal of Internet Banking and Commerce 13.1 (1970): 1-17.

Tiwari, Siddhartha Paul. "Information and communication technology initiatives for knowledge sharing in agriculture." arXiv preprint arXiv:2202.08649 (2022).

Tiwari, Siddhartha Paul. "Organizational Competitiveness and Digital Governance Challenges." Archives of Business Research 10.3 (2022).

Tiwari, Siddhartha Paul. "Strengthening E-Commerce Product Launches-Improving Efficiencies from Development to Production." Project And Technology Management Foundation (A Non-Profit Organization) Member of Asia Pacific Federation of Project Management 1.2 (2015): 4-6.

Tiwari, Siddhartha Paul. "Emerging Technologies: Factors Influencing Knowledge Sharing." World Journal of Educational Research (2022).

Tiwari, Siddhartha Paul. "Re-emergence of Asia in the New Industrial Era." Technium Soc. Sci. J. 29 (2022): 471.

Tiwari, Siddhartha Paul. "Covid-19: Knowledge Development, Exchange, and Emerging Technologies." International Journal of Social Science Research and Review 5.5 (2022): 310-314.

Tiwari, Siddhartha Paul. "Knowledge Enhancement and Mobile Technology: Improving Effectiveness and Efficiency." arXiv preprint arXiv:2208.04706 (2022).

Tiwari, Siddhartha Paul. "Knowledge Management Strategies and Emerging Technologies--An Overview Of the Underpinning Concepts." arXiv preprint arXiv:2205.01100 (2022).

Tiwari, Siddhartha Paul. "Emerging trends in soybean industry." (2017).

Tiwari, Siddhartha Paul, and S. P. Tiwari. "Is export-oriented and currency dynamics-based Indian soybean revolution environment-friendly." Current Science 114.08 (2018): 1604-1605.

Tiwari, Siddhartha Paul, and Rajat K. Baisya. "E–governance and its impact on enterprise competitiveness: Trends, Status and Challenges." MDI, Gurgaon INDIA in Association with Australian Centre for Asian Business, University of South Australia, Adelaide, AUSTRALIA 1 (2014).

Tiwari, Siddhartha Paul. "The Potential Impact of COVID-19 on the Asian Rural Economy: A Study Based on Asian Countries." Journal of Education, Management and Development Studies 2.3 (2022): 1-7.

Tiwari, Siddhartha Paul. "Business: Innovation & Survival, by a Googler." (2015).

Tiwari, Siddhartha Paul. "Diversity and its importance in today’s corporate environment." (2015).

Tiwari, Siddhartha Paul. "Exploring the Linkage between a Successful Digital Campaign and Gaming." Casual Connect, Asia Pacific, Singapore 1.1 (2014): 5-6.

Tiwarim, Siddartha Paul. "Knowledge Enhancement and Understanding of Diversity." Technium Soc. Sci. J. 30 (2022): 159.

Tiwari, Siddhartha Paul. "Editorial: Project and Technology Management Foundation (PTMF) Newsletter (June, 2015)." (2015).

Tiwari, Siddhartha Paul. "Editorial: Project and Technology Management Foundation (PTMF) Newsletter (December, 2014)." (2014).

Tiwari, Siddhartha Paul. The Impact of New Technologies on Society: A Blueprint for the Future. Scholarly Publisher RS Global Sp. z OO, 2022.

Tiwari, Siddhartha Paul. "Knowledge Sharing and Content Creator Best Practices Online." (2015): 5-12.

Tiwari, Siddhartha Paul. “Workshop on Digital Marketing: Credit Course, IIM, Indore.” (2010): 1-24.

Tiwari, Siddhartha Paul. "External factors which shape and influence an organisation's operating environment." Syngenta Workshop on Social, economic, political, technological & environmental trends, Singapore 1.1 (2016): 1-5.

Wang, Cun. "The development of information activities in the Special Economic Zones of China." Journal of information science 16.6 (1990): 393-398.

Wang'ombe, Joseph K. Industrial market structure and development in East Africa. Diss. University of Nairobi, 1975.

Wang, P. Y. "Economic insect fauna of China. Fasc. 21. Lepidoptera: Pyralidae." Economic insect fauna of China. Fasc. 21. Lepidoptera: Pyralidae. (1980).

Wang, Paul P. "The optimality of variable sampling schemes for a digital encoder." International Journal of Control 17.3 (1973): 587-596.

Yates, J. B. "Power engineering for the new cross-Channel link." Electronics & Power 28.1 (1982): 77-81.

Yates, I. R. "Investment for the future." The Aeronautical Journal 85.846 (1981): 286-300.