Conceptual Approaches to Defining the Term “Information Economy”
Kwilinski A. S., Trushkina N. V., Rynkevych N. S.

Kwilinski, Aleksy S., Trushkina, Nataliia V., and Rynkevych, Natalia S. (2019) “Conceptual Approaches to Defining the Term “Information Economy”.” The Problems of Economy 3:147–155.
https://doi.org/10.32983/2222-0712-2019-3-147-155

Section: Economic theory

UDC 330:004

Abstract:
The article determines the key prerequisites for the formation of the concept “information economy” and studies the evolution of its development. It is established that the majority of researchers identify the information economy with such concepts as digital economy, new economy, post-industrial economy, Industry 4.0, virtual economy, network economy, information and network economy, electronic economy, digital intellectual economy, Internet economy, e-economy, web economy, knowledge economy. Scientific approaches to defining terminology relating to the problems of the development of the information economy are conventionally broken down into classification groups: science, new type of economy, section of economic theory, information environment, system of economic relations, type of economic activity, instrument. Based on the result of the generalization of the existing scientific developments associated with the conceptual apparatus and the analysis of its compliance with modern business conditions, the content of the concept “information economy” is clarified. It is defined as a system of economic relations involving modern information technologies as well as the information environment, which is effectively evolving through the use of digital technologies and functioning of information infrastructure facilities. The article determines the priority areas for the development of the information economy in the global digital space, including: creation of a digital platform as a new business model; use of the concept of Industry 4.0 and smart factory as drivers for the digital transformation of industrial development; implementation of a cyber-physical system as a single complex of information resources, systems and physical processes.

Keywords: information economy, conceptual approaches, components, priority areas, digital technologies.

Fig.: 2. Tabl.: 2. Bibl.: 33.

Kwilinski Aleksy S. – Doctor of Sciences (Economics), The London Academy of Science and Business (3rd Floor, 120, Baker Street, London, United Kingdom)
Email: a.kwilinski@london-asb.co.uk
Trushkina Nataliia V. – Candidate of Sciences (Economics), Candidate on Doctor Degree, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkіv, 61166, Ukraine)
Email: nata_tru@ukr.net
Rynkevych Natalia S. – Leading Specialist, Department of Regulatory Policy and Entrepreneurship Development, Institute of Industrial Economics of NAS of Ukraine (2 Mariia Kapnist Str., Kyiv, 03057, Ukraine)

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