The Fi̇scal Mechani̇sm of İnnovati̇ve Economi̇c Development
The ability of the mass media to process and store information, which is one of the most fundamental concepts that the IV Industrial Revolution has made, as well as the modern information society, has the advantage of enhancing globalization and the spread of human relations globally. Globalization accelerates innovation or renewal impacts on every environment through big data that connects to social systems such as inter-country cooperation, economy, culture, education. Today, the most exciting period of the digital age is seen, and in the global world, digitalisation of production is based on the production of specific products. The information centers are exploring new areas of service that enable users to create products through digital media.The article states that financial education will improve public spending in the country as a result of studying science and training in this field. High technology of networking, cyber-attacks, online financial monitoring, strengthening the mechanism for directing public expenditure by local governments, investment analysis, risk management, robo-tips, trading algorithms access to opportunities such as trade, preventing the shadow economy, and increasing efficiency in public administration.In our modern economy, digital data, artificial intelligence, and data science and the Internet are all inclined to support the new industrial revolution. The ever-increasing proportion of large databases make digitalization, machine learning, and digitalization of people seriously essential. In this regard, our country has a significant advantage in terms of the age composition of the population in comparison with the European countries and the countries of the region. If the population growth in our country is triangular (that is, the number of younger population groups is higher than that of the older population), the increase in neighboring countries is rhombic. This means that in the near future there will be a large number of young people and high-tech people in our country, the growth of computer technologies and the expansion of internet and softening opportunities. Everything we do in the world we live in is increasingly turning the information flow into data. Data is not perceived as a new discovery in a globalized world.The development of new digital technologies connected to the Internet of Things, along with breakthroughs in the field of artificial intelligence and automation, will allow for a new production innovation. Creating smart factories, industrial equipment communicating with users and other machines, supporting automated processes and dynamic adaptation, as well as utilizing mechanisms that facilitate real-time communication between the industry and the market to increase efficiency, are key to the new challenges of the IV Industrial Revolution. Smart factories can benefit from increased efficiency in the manufacturing process, product quality, durability and safety, and cost reduction
Year of publication: |
[2021]
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Authors: | Giyasova, Zeyneb |
Publisher: |
[S.l.] : SSRN |
Subject: | Entwicklung | Economic development | Entwicklungspolitik | Development policy | Entwicklungsländer | Developing countries | Entwicklungstheorie | Development theory | Entwicklungshilfe | Development aid | Ländliche Entwicklung | Rural development | Wirtschaftswachstum | Economic growth | Regionalentwicklung | Regional development |
Description of contents: | Abstract [papers.ssrn.com] |
Saved in:
Extent: | 1 Online-Ressource |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 11, 2021 erstellt Volltext nicht verfügbar |
Classification: | E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013227795
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