The impact of digital transformation on the sustainable development of the Azerbaijani economy
DOI:
https://doi.org/10.22399/ijcesen.1322Keywords:
Digitalization, Digital Transformation, Investment, GDP, EconomyAbstract
The purpose of the study is to build a model of the impact of digital transformation on economic growth. The study reflects the changing different points of view of researchers explaining the impact of digital transformation on economic growth, as well as the impact of investment on GDP. Research theories Economic growth is a complex phenomenon, and theories must take into account all factors, including the volume of investments. The research methodology is based on research on digital transformation, economic growth, and investment. The data was collected using statistical materials on the economic growth of the countries of the world and the CIS. The impact of investments on the volume of Azerbaijan's GDP is also calculated. The factors influencing extensive and intensive ways of achieving economic development are revealed. We also identified indicators (quantity and quality of labor resources, availability of capital, technological level, quantity and quality of natural resources) characterizing the ability of economic growth. It is noted that the subjects of the economic system dealing with the business process need to undergo digital transformation and the factors determining the introduction of innovations in the field of information technology. The results of the study can be applied in determining the ways of economic development and maintaining its pace at an optimal level. The research contributes to the growth rate of the country's economy, thanks to the theoretical and practical results obtained. The relevance and value of the study is confirmed by its impact on the economy and investment.
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