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The digital economy: the challenges of science and politics

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dc.contributor.author Lekashvili, Eka
dc.date.accessioned 2021-04-13T10:03:30Z
dc.date.available 2021-04-13T10:03:30Z
dc.date.issued 2019
dc.identifier.citation Economics and Business, №4, 2019, pp. 83-99 en_US
dc.identifier.issn 1987-5789
dc.identifier.uri http://dspace.tsu.ge/xmlui/handle/123456789/652
dc.description  Gabisonia Z. (2019). Bitkoinis, rogorc cifruli valutis samartlebrivi r egulirebis konceptualuri aspeqtebi, shedarebiti samartlis qartul-germanuli jurnali, [Bitcoin as a Digital Currency and its Conceptual Aspects of Legal Regulation, Georgian – German Journal of Comparative Law], 2/2019. p.p37-43 (in Georgian).  Gagnidze I. (2019). Meotkhe industriuli revolucia – umaglesi ganatlebis umnishvnelovanesi gamocveva saqartveloshi. Jurn. “ekonopmika da biznesi”, Vol. XII, N3 (in Georgian).  Bossler, A. M., Holt, T. J. (2012). Patrol Offi cers’ Perceived Role in Responding to Cybercrime, Policing an International Journal of Police Strategies & Management: 35(1): 165–181.  https://doi.org/10.1108/13639511211215504 /Last visit 20May, 2019/.  Constatinides P., Henfridsson O., Parker G. G. Platforms and Infrastructure in the Digital Age. vol. 29, no.2, pp. 381–400  https://doi.org/10.1287/isre.2018.0794 /Last visit 11 September, 2019/.  Corbet S., Lucey B., Urquhart A., Yarovaya L. (2018). Crypto Currencies as a Financial Asset: A Systemic Analyses. Elsevier B.V International Review of Financial Analyses. 182-200.  Dirk G. Baur, Kihoon Hong, Adrian D. Lee. Bit Coin: Medium of Exchange or Speculative Assets? (2017). Elsevier B.V. Journal of International Financial Markets, Institutions and Money. pp.177-190.  Gasparėnienė L., Remeikienė R., Ginevičius R., Schieg M. (2018) Adoption of Mimic Model for Estimation of Digital Shadow Economy. Technological and Economic Development of Economy. 24/4. 1453-1465 /Last visit 11 September, 2019/.  Gogorishvili I. (2018). Small and Medium Enterprise Perspective in the Development of Digital Economy, E-Book of Abstract, Fifth Business Systems Laboratory International Symposium, Cocreating Responsible Futures in the Digital Age: Exploring New Paths towards Economic, Social and Environmental Sustainability, University “Federico II” of Naples, January 22-24.255-257. ISBN 9788890824265  http://bslab-symposium.net/Napoli-2018/BOA-BSLAB-Symposium-2018.pdf /Last visit 14September, 2019/.  Golddfarb A., Tucke C. Digital Economics. Journal of Economic Literature 2019, (57), 3-43.  https://doi.org/10.1257/jel.20171452. /Last visit 24 September, 2019/.  Kovacs O. (2018). The Dark Corners of the Industry 4.0 – Grounding Economic Governance 2.0. Technology in Society. 55 (2018). 140–145.  Lekashvili E., Mamaladze L. Crypto Currency – A New Challenge for the Economy of Georgia. Copernican Journal of Finance and Accounting (2018, volume 7, issue 4). DOI:  http://dx.doi.org/10.12775/CJFA.2018.022 ISSN 2300-1240 (print); ISSN 2300-3065 (online) Last visit 24 September, 2019/.  Nguyen T. V., Nguyen B.T., Nguyen K.S., Pham H. Asymmetric Monetary Policy Eff ects in Crypto Currency Markets. Elsevier B.V. Research in International Business and Finance 48 (2019).335-339.  Qu J., Simes R. and O’Mahony J. How do Digital Technologies Drive Economic Growth? Economic Record, vol.93.Issue, June, 2017. 57-69.  Rayna T. Understanding the Challenges of Digital Economy: The Nature of Digital Goods, Communication & Strategies, no.71, 3rd quarter 2008, p.13 – 33.  Remeikiene R., Gaspareniene L, Schneider F. G., The Defi nition of Digital Shadow Economy. (2018). Technological and Economic Development of Economy. Volume 24(2): 696-717.  Rogers Z., Blockchain and the state: Vehicle or vice? AQ: Australian Quarterly, Vol. 89, No. 1 (JAN-MAR 2018), pp. 3-9, 44. Australian Institute of Policy and Science.  https://www.jstor.org/stable/26450190/ (Last visit 24 September, 2019/.  Sichinava D. (2019). Cryptocurrency – A Future Medium of Exchange (Journ. Economics and Business, Vol.11 Issue 1(19). Iv. Javakhishvili Tbilisi State University.  Vladimir F. Ukolov, Valentin Y. Afanasyev, Victor B. Vorontsov, Oksana V. Baikova, Olga I. Bolshakova. 2018.Digitalization of Economics and New Risks in the Leading Industries of FEC. Helix Vol.8; 6; E-ISSN: 2319-5592; P-ISSN: 2277-3495.  Ukolov V. F., Afanasyev V.Y., Vorontsov V.B., Baikova O.V., Bolshakova O. I. (2018). Digitalization of Economics and New Risks in the Leading Industries of FEC. Helix Vol.8.EISSN: 2319-5592; P-ISSN: 2277-3495.  Zorz M. (2015). Global Black markets and the Underground Economy [online], [Last visit 12 October 2015]. Featured News.  http://www.net-security.org/article.php?id=2288 /Last visit 20 May, 2019/.  https://www.bm.ge/ka/article/diplomebi-blokchein-platformaze-gantavsdeba/38452/ /Last visit 24 September, 2019/.  http://www.iset-pi.ge/index.php/ka/iset-economist-blog/entry/2017-07-07-10-19-51 /Last visit 24September, 2019/. en_US
dc.description.abstract What should economic policy makers consider in process of developing economic strategies to tackle the challenges of the digital revolution and to take advantage of its progressive outcomes, and what are the threats to technological development that will allow industry 4.0 to have a negative impact on economic policy? To answer these questions, we aimed to conduct a bibliographic study based on the of modern advanced scientific papers and to systematize the expectations and challenges of the economic development of the digital economy using induction and deduction methods. The results of the study will help us to foresee the future concept of economic policy. During the research process, we selected the most recent and highly rated scientific papers, identified the results of the research using the induction method, and finally finalized the grouping of the results of the analyzed analyzes – systematization. In the research process, we have studied the works of Kovaks (2018), Nguyen et al (2019), Bosler and Holt (2012), Remeykenes, Gasparenier and Schneider (2018), Ukolov et al (2018), Baur, Hong and Lee (2017) and others, containing subjective assessments of the development of Digital Economics on Problems such as Digital Economics in relation to the economic growth, the theoretical economic model, productivity, the shadow economy, various institutional mechanisms. The work presents a bibliographic study of contemporary scientific papers on the problems of digital economy. The systematization of the results of the analyzed scientific literature shows the multitude of expected negative outcomes whose existence and origin will require greater literacy from the modern citizen and government. The negative effects are linked to a number of uncertainties, the expected decline in the employment of underaged people, the increase in stressful working conditions of managers, the unfair distribution of income, the growth of the digital shadow economy, cybercrime, the rise of ill-advised financial gain that will enhance financial sector and increase the value of speculative assets. The links between financial centers and political power will become even more important. As a result, economic policy regulation will be complicated. From an economic point of view, digitizing the economy may require huge additional costs, but ongoing operations reduce the costs of searching, multiplying, transporting, tracking and verifying information. However, the emergence of digital money accelerates turnover. It is cheaper, faster and more global in content than traditional cash. In order to facilitate the formation of databases, it will be necessary to develop an information production accounting methodology. In order to fi nd effective management tools for these and other challenges, it is important to establish a new economic mindset on the basis of which a new economic model in the form of a digital economy should be explored. There is a need to diversify research into issues such as expanding the database of cryptocurrency studies; Research on the legal, economic and regulatory issues of cryptocurrencies; Issues of information asymmetry; Theoretical development; Alternative Potential Benefits of Blockchain Consumption; Valuation of cryptocurrencies as an asset and as an individual; The issue of environmental change with regard to cryptocurrencies, etc. However, the authors pay great attention to the triad of problems: disorientation of regulation, price spikes and cybercrime. en_US
dc.language.iso ge en_US
dc.publisher Ivane Javakhishvili Tbilisi State University Press en_US
dc.subject Digital economy, industry 4.0, economic policy en_US
dc.title The digital economy: the challenges of science and politics en_US
dc.type Article en_US


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