IDEAS home Printed from https://ideas.repec.org/a/bja/isteus/y2024i2p8-20.html
   My bibliography  Save this article

Interdependence of innovative economy and social inequality in the conditions of digital transformation: a globalization aspect

Author

Listed:
  • Kateryna Kraus

    (Bohdan Khmelnytskyi National University of Cherkasy)

Abstract

In the time of widespread digital transformation and innovation, economic relations are becoming more and more globalized, progressive and efficient. This is due to the automation of production and business processes, governance and various spheres of social life, accelerated development of ICT and digital technologies. The latter significantly change the market and transform the outlook of its economic agents, influence the change in behavior and thinking of buyers / clients, create a new type of business landscape based on the cluster approach, give impetus to the emergence of new business models, stimulate the production of innovations and the search for effective economic solutions, lay the foundations for sectoral, regional and national transformations. Today, more than ever before, the competitiveness and leading positions of countries in terms of economic innovation on the world map are determined by innovative and institutional structural transformations at all levels of economic aggregation. The implementation of advanced digital technologies for the purpose of increasing the economic and social well-being of mankind, modernization, and automation of production and business processes, transparency and availability of administrative services, creation of a digital space for quality life, determines the leadership in innovativeness of companies, territories (regions, agglomerations), countries, is important condition for sustainable economic development. In the Global Innovation Index of 2023, among 132 economies of the world, the leadership belongs to the economies of European countries (Switzerland, Sweden, the Netherlands, United Kingdom) and the USA. It is noteworthy that these countries fall into the group of countries with a high level of income, which confirms the direct relationship between the rating of innovativeness of the economy and the level of income in the country. A visualization of the spatial-geographic location of centers of innovation and digital development of the economies of individual countries of the world is presented, where the predominance of European and North American countries in the GII 2023 ranking can be traced. Established network connections and international cooperation, trust and mutual assistance, especially among the leading countries in terms of economic innovation, is what will help make the world a safe, comfortable, harmonious and balanced place for the life of every person, with a high level of economic and social well-being, environmental and information security.

Suggested Citation

  • Kateryna Kraus, 2024. "Interdependence of innovative economy and social inequality in the conditions of digital transformation: a globalization aspect," Economic Synergy, Higher Educational Institution Academician Yuriy Bugay International Scientific & Technical University, issue 2, pages 8-20.
  • Handle: RePEc:bja:isteus:y:2024:i:2:p:8-20
    DOI: 10.53920/ES-2024-2-1
    as

    Download full text from publisher

    File URL: https://es.istu.edu.ua/EconomicSynergy/article/view/192/141
    Download Restriction: no

    File URL: https://libkey.io/10.53920/ES-2024-2-1?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
    ---><---

    More about this item

    Keywords

    digital transformation of the economy; digital technologies; digital divide; innovation; innovative economy; institutional structures; social inequality; enterprise; production;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • P13 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Cooperative Enterprises

    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:bja:isteus:y:2024:i:2:p:8-20. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Anna Duchenko (email available below). General contact details of provider: https://es.istu.edu.ua/EconomicSynergy .

    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.