Digital Transformation of the National Economic System: Identification of Key Determinants

Abstract

The chapter presents the results of a comprehensive study devoted to identifying the most significant determinants of digital technological development at the macro level, that allow to determine effective scenarios for national and regional economic systems. The use of correlation and regression analysis in this study made it possible to identify the most significant institutional and economic factors that affect the effectiveness of the economic space digitalization at the national level. This, in turn, made it possible to identify a set of problems arising in countries in the context of the development of this phenomenon on a global scale and to define a set of directions for their consistent resolution. The timeliness and comprehensiveness of national economy responses to such challenges and threats posed to them by the natural process of the economic system evolution can provide a state with a high level of security and bring it to a higher competitive position. The significance of this study lies in identifying and validating institutional and economic factors that have a significant impact on the pace of digital transformation of national economic systems expressing features of technological singularity in modern economic life and leading to transformation following an exponential trajectory.