Journal of Risk & Control

The Information Economy in the Age of Digitalization: Key Characteristics, Distinctions and Development Trends

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• Abstract

   

  The information economy, which uses knowledge and digital technologies as primary resources, has transformed traditional economic models and practices. Despite its growing significance, there are varying and often conflicting interpretations of the essence and unique features of the information economy. This article aims to explore the theoretical foundations on which the information economy is studied to define its main characteristics. Through an in-depth analysis, a classification of the core characteristics of the modern information economy was established, highlighting its reliance on digital information, knowledge-intensive activities, and network effects. Additionally, based on market data, the study identifies key development trends within the information economy, emphasizing the impacts of increasing digitalization and globalization. These findings provide a comprehensive understanding of the evolving nature of the information economy and its influence on broader economic practices.

   

  JEL classification numbers: B52: L86; D80.

  Keywords: Digital economy, Information, Information society, Digitization.