Digital Platforms as a Key Tool for the Transformation of Regional Economy
International Journal of Economics & Business Administration (IJEBA), 2020, vol. VIII, issue Special 1, 33-38
Purpose: The presented article is aimed at exploring the possibilities of utilizing digital platforms as a key tool for transforming the regional economy, based on the classification of types and revealing the advantages of digital platforms. Design/Methodology/Approach: In the current conditions of regional transformation and the integration of traditional production and marketing processes into the electronic market conditions, any economic agents including commercial enterprises, non-profit organizations and public authorities, should use the advantages of digital platforms in the process of satisfying the needs of customers and the interests of stakeholders. The methodological grounds of this study are based on a systematic approach and a classification method, which are used to substantiate the advantages and possible limitations of introducing digital platforms into the activities of economic and social actors of the regional economy. Findings: The following advantages of digital platforms as a tool for the development of the regional economy are revealed: consolidation in one place of the external resources of various business partners; the ability to seamlessly integrate new functional modules into an existing platform; economies of scale on the demand side; reduction in transaction costs; platform value growth with an increase in the number of users; increased returns as the network effect of the digital ecosystem develops; opportunities for quick monetization and capitalization of the service; the presence of control of all business processes of the digital ecosystem. It is proposed to highlight innovative, informational, communication, commercial, professional digital platforms and digital government services platforms. Practical implications: In practice, the results of the study will help to determine the vectors for the further implementation of various types of digital platforms in the economy of the region, taking into account the interests of owners, participants, users and stakeholders of regional electronic platforms. Originality/value: The introduction of digital platforms into the economic system will be the driver of the development of the regional economy due to faster and better satisfaction of the needs of owners, participants, users and stakeholders of electronic platforms.
Keywords: Digital economy; digital platforms; transformation of the regional economy. (search for similar items in EconPapers)
JEL-codes: F02 F15 F63 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ers:ijebaa:v:viii:y:2020:i:special1:p:33-38
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