THEORY OF THE DIGITAL ECONOMY: THE ROLE OF DIGITALIZATION IN ECONOMIC GROWTH
Abstract
This paper explores the theory of the digital economy, emphasizing the transformative role of digitalization in driving economic growth. It analyzes how advancements in information and communication technologies (ICT) reshape production processes, market structures, and consumer behavior. The study highlights key mechanisms through which digitalization fosters innovation, productivity, and global competitiveness. Additionally, the paper discusses challenges such as digital divides, regulatory frameworks, and cybersecurity risks that accompany digital economic expansion. The findings underscore the importance of strategic policy interventions to maximize the benefits of digitalization for sustainable economic development.
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