Building a Model for Financial Management of Digital Technologies in the Areas of Combinatorial Effects
Open Access
- 7 April 2021
- Vol. 9 (2), 52
- https://doi.org/10.3390/economies9020052
Abstract
The race of states for digital leadership faces the challenges of digital transformation foresight, providing combinatorial effects and acceleration of digitalization processes, contributing to a more efficient allocation of limited financial resources. This situation determines the relevance of the authors’ study, which aims to develop an appropriate model for the allocation of funds for digital technologies. The methodology of the study is based on the concepts of technological modes and cyclical development of the economy. The paper presents the authors’ definition of the concept “digital space,” which is new to Russian scientific literature. The key research method is mathematical modeling. The scientific novelty of the paper is chronological architectonics of digital transformations, built by the authors, and the model of distribution of financing under the investment constraints due to the trust limit of the society institutions, the time of fluctuations of the system of technological adaptation, and the response of the institutional environment to the digital limits of the transformations. The practical significance of the proposed models is the identified tandem interconnected digital technologies of the areas of combinatorial effects that accelerate the dynamics of Industry 4.0, as well as the resulting tools for the effective management of digital technology financing. The obtained theoretical and empirical results are desirable for the heads of government agencies, foundations, corporations, and development agencies, as well as enterprises interested in accelerating digital transformation and increasing strategic competitiveness in the digital space.Keywords
This publication has 40 references indexed in Scilit:
- Effects of Industry 4.0 on the Labor Markets of Iran and JapanEconomies, 2018
- Econometric Fine Art Valuation by Combining Hedonic and Repeat-Sales InformationEconometrics, 2018
- Forecast Combinations in the Presence of Structural Breaks: Evidence from U.S. Equity MarketsMathematics, 2018
- The Future of the World Economy is an Integrated World Economic StructureEconomy of regions, 2018
- DEVELOPMENT OF A FINANCIAL FRAMEWORK FOR THE NATIONAL PLAN FOR REGIONAL DEVELOPMENT: THE EVIDENCE FROM SERBIAEconomy of regions, 2017
- Back to the Future: The Digital Millennium Copyright Act and the Trans-Pacific PartnershipLaws, 2017
- Digital Forensics to Intelligent ForensicsFuture Internet, 2014
- Academic identities re-formed? Contesting technological determinism in accounts of the digital ageContemporary Social Science, 2011
- Digital space meets urban place: Sociotechnologies of urban restructuring in downtown San FranciscoCity, 2002
- The Long Wave Cycle. By Nikolai Kondratieff, Translated by Guy Daniels. New York: Richardson & Snyder, 1984. Pp. 138. $30.00. $100 limited edition.The Journal of Economic History, 1985