EFFICIENCY OF ECONOMIC POLICY IN THE CONTEXT OF GROWING DIGITAL TRANSFORMATION
Abstract
In today’s world, where technologies and digital innovations are rapidly developing, the effectiveness of economic policy is becoming an important issue for countries and the global economy as a whole. The article explores the topical issue of economic policy efficiency in the context of the rapid development of digital transformation of modern society. The growing role of digital tools, platforms, and data in modern society and economy poses significant challenges to governments and regulators in formulating and implementing economic policies. The article examines the current problematic aspect of economic policy effectiveness in the context of active digital transformation, which is shaping new realities for global and regional economies. The growing digital transformation is affecting all aspects of the global economy, creating new opportunities and challenges for economic policy. The article analyzes the measures and strategies that can be most effective in managing the economic situation in the context of digital transformation. The key strategic directions that can be used to improve the effectiveness of economic policy in the context of digital transformation are considered, namely, creating a favorable regulatory environment for innovation, developing digital literacy skills, supporting small and medium-sized enterprises in the implementation of digital technologies, and investing in research and development. The research in this article identifies strategic challenges facing governments, businesses, and society in the context of digital transformation and provides recommendations for improving the effectiveness of economic policy. The research in this article helps to reveal the key challenges and opportunities arising from digital transformation and provides recommendations on optimal strategies for achieving effective economic policy in the new environment. This article is important for practitioners, researchers, and policy makers who are interested in modern economic policy in the context of digital transformation and seek to understand how to achieve optimal development in this new economic landscape.
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