JEL Classification: F01, F20, F29
Okhrimenko O., Doctor of Economics, Professor at the International Economics Department, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine
Hryshchenko Y., student at the International Economics Department, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine
ANALYSIS OF ELECTRONIC BUSINESS INFLUENCE ON THE WORLD ECONOMY
Introduction. The key feature of the economy development in the 21st century is digitalization – the transition to a digital economy. Digital is considered an economy based on digital computer technology (also called the Internet economy, new economy, or web economy). The rapid proliferation of digital technologies accelerates the pace of development of international economic relations: increasing of competition in national and international markets, liberalization of economic policies of states, especially in developed countries.
Purpose. The purpose of the research is to analyze main trends of e-business development and what impact does e-business have on national economies and world economy in general.
Results. The article deals with the main trends of the influence that the development of e-business on the world economy has. Thus, the United States and China have been and remain leaders among the countries in terms of the capacity of the e-commerce market, however, India and the countries of Latin America are actively involved in this trend. The rapid development of e-business is gaining in the poorly developed countries where in recent years there has been a tendency to increase the share of the population with access to the Internet. It should be noted that the positive results from the development of e-business for national economies have both quantitative (value) and qualitative character, in particular, new technologies considerably facilitate business procedures, which is confirmed by the increase of the place in the Doing Business rating for countries where e-commerce is developing at a fast pace.
Conclusions. The development of e-business accelerates economic growth, so new players are rapidly selecting a part of the market from countries that have exhausted their potential for rapid growth (Latin America vs. Europe). E-business influences all spheres of economic relations and one of its key advantages is simplification of business (as evidenced by examples of countries such as the US, China, and India). Thus, in the era of the digital economy, the development of electronic business has evolved from an opportunity into a necessity – the necessity of constant development in order to remain competitive in the world economic arena.
Keywords: digital economy, information economy, e-business, e-commerce, the Doing Business index.
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