STRATEGY FOR THE INSTITUTIONAL DEVELOPMENT OF THE DIGITAL ECONOMY SECTOR

Abstract

Digitalisation initiatives and strategies are part of the country's overall efforts to adapt to the digital economy and society, as well as to increase its competitiveness at the national and global level. The article is concerned with developing a methodological approach to the formation of a strategy for the digital economy sector based on the development of elements of the institutional environment. The methodological basis of the study is modern economic institutional theories, the object of analysis of which is the institutional dynamics of the environment. The paper proposes a vision of integrated strategic planning that integrates a set of strategies - a portfolio of strategies at different levels, sectors and economic agents, formed to achieve specific goals of digital transformation. It is determined that the overall strategy consists of three elements: a strategy for the development of the DES, a strategy for the transformation of traditional sectors of the economy based on the introduction of elements of the digital economy; a strategy for the development of digital space. Based on the analysis of the digitalisation experience of developed countries, it is established that the basis of digital transformation should be a combination of strategies of horizontal integration along value networks, vertical integration, product diversification, digital interaction and standardisation. It is established that in the long term, the overall strategy determines the vectors of transformation of institutions aimed at modifying the characteristics of the architectonic elements of the institutional environment of the DES through the formation and implementation of institutional mechanisms. From the standpoint of institutional theory, the author identifies the vectors of institutional design: cultural digital imperative; industry 4.0 / X.0 technologies; digital business and social environment; digital adaptation in the labour market; digital cooperation policy; digital knowledge; digital living space; protection of legal rights of digital economy actors. The strategy ensures the digital transformation of the institutional environment of DES through the design and self-development of its components in order to meet the needs of the population, build a competitive national economy, and strengthen the resilience and strategic autonomy of the national economy.