The dimensions of the digital economy and society

Abstract

The chapter looks at the problem of proper understanding and defining the digital economy and society which is becoming a main competitiveness factor for developed countries. A precise understanding of digitalization allows the creation of more effective innovation policies which support higher productivity growth. First, the authors analyse the creation and evolution of the term in literature with focus on a number of publications in different research areas and the main keywords. Next, the authors define areas where digitalization makes the radical change, what brings the core determinants of the digital economy, e.g., digital platforms, information and communication technology and IT sector, and virtual data usage on a big scale using computer networks. This brings the authors to the conclusion that the digital economy phenomenon should be analysed in four dimensions: technological, regulatory, social and economic.