Systematic process analysis: digitalisation of the economy in terms of the political economy approach
Year: 2025
Type: article
Abstract: With the rapid development of information technologies, digitalisation is becoming a key factor in socio-economic development. However, the process of digital transformation involves a number of challenges, including changes in the nature of interaction between economic actors, transformation of reproduction chains, and redistribution of economic interests. At the same time, the issue of a comprehensive analysis of digitalisation in terms of a political economy approach remains insufficiently studied in the scientific literature. This research concerns with the digital transformation of the economy through the prism of political economy analysis. It allows us to identify the mechanisms of changes in economic interests, transformation of social reproduction structure and changes in the system of distributive relations. The political economy approach provides an opportunity to analyse the role of the state, corporations, and society in the process of digital transformation, examine the emerging economic imbalances associated with digital inequality, capital concentration and income redistribution in the digital economy. The purpose of the study is to comprehensively examine the processes of economy digitalisation in terms of the system-integrative analysis. The research considers the political economy approach in the context of digitalisation, the interests of key participants in the digital economy, transformation of reproduction chains, distribution relations, assessment of the impact of digital technologies on labour relations, and economic policy. The research methodology is based on the system-integrative approach, methods of logical, criterion, comparative, and structural-functional analysis. The main results of the study indicate the redistribution of economic interests, changes in the structure of social reproduction and the mechanisms of state regulation in terms of the digital economy. Indeed, digital transformation requires active state participation in the formation of digital institutions, regulation of new economic relations, and ensuring digital sovereignty. The practical application of the results obtained is possible in the development of digital transformation strategies.
Authors: Elena Irodova, Alexey Sokolov
Institution: Ivanovo State University
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4409523197