Eco-economic Component of Digital Future in the Model of Sustainable Development of Economy

Abstract

Purpose: The purpose of this paper consists in determining the eco-economic component of digital future in the model of sustainable development of economy and developing the recommendations for its regulation for provision of balance of the global economic system in the future. Design/methodology/approach: The authors use regression and correlation analysis. The authors calculate cross correlation of the potential factors with “green” and digital economy in the countries of the selection in 2019 and perform multiple regression analysis of the influence of the selected factor variables on the resulting variables. For determining the optimal values of factor variables for guaranteed implementation of the digital future in the model of sustainable development of economy the authors perform scenario analysis with the simplex method. Findings: The eco-economic component of digital future in the model of sustainable development of economy is determined. It includes four factors, which largely determine development of “green” and the digital economy: institutional provision, population’s education and skills, financial system and innovation capability. Originality/value: The authors determine the values of the indicators of official statistics, at which the increase of the index of digital competitiveness up to 96,57 points on average and the index of green economy up to 0,81 will be achieved in the countries with the highest values of these indices in 2019. Recommendations for targeted management of the selected factors for guaranteed implementation of the digital future in the model of sustainable development of economy are offered.