Digital Development of the Economy and its Role in Improving the Competitiveness of Ukraine at the International Level
Akymenko Olena1, Petrovska Alina2, Zholobetska Maryna3, Skrytskyi Dmytro4

1Akymenko Olena, Ph.D, Associate Professor, Department of Economics, Chernihiv National University of Technology, Chernihiv, Ukraine.
2Petrovska Alina, Post Graduate, Chernihiv National University of Technology, Chernihiv, Ukraine.
3Zholobetska Maryna, Post Graduate, Chernihiv National University of Technology, Chernihiv, Ukraine.
4Skrytskyi Dmytro, Post Graduate, Chernihiv National University of Technology, Chernihiv, Ukraine.
Manuscript received on 25 November 2019 | Revised Manuscript received on 05 December 2019 | Manuscript Published on 11 December 2019 | PP: 64-68 | Volume-8 Issue-3C November 2019 | Retrieval Number: C10111183C19/2019©BEIESP | DOI: 10.35940/ijrte.C1011.1183C19
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Abstract: The article explores digital development and determines its role in improving the competitiveness of Ukraine. The definition of the digital economy has been given as an economy where the key factors and means of production are digital data (binary, information, etc.) and network transactions, as well as their use as a resource, which can significantly increase the efficiency and productivity of activities and value for products and services received. It has been outlined the reasons for Ukraine’s lag in the implementation of digitalization, namely: political and regulatory environment; low efficiency of Ukrainian legislative bodies, judicial system; problems with protection of intellectual property; low level of introduction of new technologies by business; low impact of IT on the emergence of new business models; outflow of human capital. The principles of digitalization have been analyzed. It has been proved the expediency of choosing the target development scenario by the state: the main motivation of Ukraine is ability of digital technologies to rapid increase in productivity and efficiency of economy and business (which leads to complete transformation of the old system and modernization due to digital technologies); a key strategy is a focus on the internal market; key initiatives are formation of motivation, demand, and digital needs for digital technologies among consumers (business, government, and citizens).
Keywords: Digitalization, Modernization, Competitiveness, Economy, Infrastructure, Principles, Sustainable Growth.
Scope of the Article: Social Sciences