The Digital Economy and the Impact of Its Formation on Economic Development

Khayala Ibrahimova (), Elchin Suleymanov () and Farhad Rahmanov ()

Academic Journal of Economic Studies, 2020, vol. 6, issue 3, 105-108

Abstract: In the process of globalization, the need to use ICT is felt in all segments of society. The widespread use of the Internet and communication technologies by people has affected a number of areas, including the economy, and has brought a number of new economic concepts and facts to society. The fourth industrial revolution, the technological revolution, is sometimes called the digital revolution. As a result of this digital revolution, changes have taken place in the traditional economy, and information capital has emerged. In the digital economy, the development process, the establishment of direct relationships with consumers, the quantitative and qualitative indicators of the product in accordance with the wishes of the customer can be implemented more effectively. As a result of all these processes, it has given impetus to the establishment of a cashless society in our country.

Keywords: Digital economy; digital technologies; e-Trade; ICT (search for similar items in EconPapers)
JEL-codes: L14 L15 (search for similar items in EconPapers)
Date: 2020
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