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Economy Digitalization and Labour Productivity

Economy Digitalization and Labour Productivity

Journal of Economic Regulation, , Vol. 10 (no. 3),

The article is devoted to the analysis of the relationship between economy digitalization and labour productivity. Authors consider digitalization processes in a broad historic context as well as the dynamics of human labour productivity over the past thousand years with the description of the main drivers of changes in its growth rates: industrial and scientific and technological revolutions. During this, demographic patterns are also taken into account. A comparative analysis of approaches to the current value of the digitalization of the economy and its future impact is carried out. The effect of digitalization on both transformation and transaction costs is shown. The characteristics of digital technologies and their development in historical retrospective are given, and the digitalization of the economy is considered as one of the forms of innovative activity.

Keywords: digitalization of the economy, digital economy, scientific and technological revolution, labor productivity

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