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New Digital Era: Digitalisation, Emerging Risks and Opportunities [Kietas viršelis]

Edited by (University of Uak, Turkey), Edited by (University of Uak, Turkey), Edited by (University of Malta, Malta)
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This volume consists of 18 essays by economics, finance, and other specialists from around the world, who explore the advantages and risks of digitalization in the context of its increase due to the COVID-19 pandemic. They address decentralized finance and cryptocurrency activity in Africa; whether digital financial services influence banking stability and efficiency, using the example of the US and India; the benefits of digitalization for economic growth, income, labor productivity, intellectual development, knowledge capital, and health care; digital aspects of internal audits of tax differences in Ukraine; the digitalization of public services in European countries; and digital currencies and central bank digital currency, including in Nigeria. They also discuss the impact of artificial intelligence on sustainability and industrial production; the impact of COVID-19 on digitalization in the banking sector in North Macedonia; the implications of blockchain technologies in entrepreneurial finance for startups and new ventures; developing students’ life skills through entrepreneurship in the digital era; tax challenges in the digital economy in the European Union; the impact of digitalization on the energy industry; the effects of consumers' technology readiness to use mobile payment applications; online gaming as a tool for emancipation and pleasure, particularly its use by employees as a break from routines; Elena, Bulgaria, as a tourist destination and the digitalization process of its local food festival; the labor market outcomes of Romanian migrants during COVID-19; and smart cities using cloud services. Distributed in North America by Turpin Distribution. Annotation ©2022 Ringgold, Inc., Portland, OR (protoview.com)

The New Digital Era's two volumes highlight the new social and economic policies that are needed to balance the effects on social and economic life and prevent possible conflicts between individuals and societies in the wake of the COVID-19 pandemic and digitalisation.



The COVID-19 pandemic has led to further acceleration of digitalisation in all areas. This caused significant changes in economic and social life. Through digitalisation, the need for people in business life has decreased and has forced the traditional employment structure to change. During the pandemic period, some segments enjoyed the advantages of owning digital technologies, while others remained strangers to the new world because they were deprived of digital technologies, revealing the inequality of opportunity on an individual or social basis.

Although this rapid change produced positive results, it also brought about risks. To help mitigate such emerging risks, The New Digital Era’s two volumes vitally generate new information in order to determine the advantages and risks in which areas this digitalisation, which has increased with the COVID-19 pandemic. The chapter authors highlight the new social and economic policies that are needed to balance the effects on social and economic life and prevent possible conflicts between individuals and societies

Contemporary Studies in Economic and Financial Analysis publishes a series of current and relevant themed volumes within the fields of economics and finance. Both disciplinary and interdisciplinary studies are welcome.



The COVID-19 pandemic has led to further acceleration of digitalisation in all areas. This caused significant changes in economic and social life. Through digitalisation, the need for people in business life has decreased and has forced the traditional employment structure to change. During the pandemic period, some segments enjoyed the advantages of owning digital technologies, while others remained strangers to the new world because they were deprived of digital technologies, revealing the inequality of opportunity on an individual or social basis. Although this rapid change produced positive results, it also brought about risks. To help mitigate such emerging risks, The New Digital Era’s two volumes vitally generate new information in order to determine the advantages and risks in which areas this digitalisation, which has increased with the COVID-19 pandemic. The chapter authors highlight the new social and economic policies that are needed to balance the effects on social and economic life and prevent possible conflicts between individuals and societies Contemporary Studies in Economic and Financial Analysis publishes a series of current and relevant themed volumes within the fields of economics and finance. Both disciplinary and interdisciplinary studies are welcome.
About the Editors ix
About the Contributors xi
SECTION A EMERGING RISKS AND OPPORTUNITIES DUE TO DIGITALISATION
Chapter 1 Decentralised Finance and Cryptocurrency Activity in Africa
3(10)
Peterson K. Ozili
Chapter 2 Do Digital Financial Services Influence Banking Stability and Efficiency: An ARDL Analysis of a Developed and a Developing Economy
13(18)
Aamir Aijaz Syed
Ercan Ozen
Muhammad Abdul Kamal
Chapter 3 Social Benefits of Digitalisation
31(18)
Rasmiyya Abdullayeva Sabir
Allahyar Muradov Niyaz
Aytan Guliyeva Bakhtiyar
Chapter 4 Digital Aspects of Internal Audit of Tax Differences: Practical Experience of Ukraine
49(20)
Mariya Shygun
Anastasiia Chystova
Chapter 5 A Cross-cultural Study on the Digitalisation of Public Services
69(20)
Oana-Ramona Lobont
Sorana Vatavu
Loredana Jicarean
Nicoleta-Claudia Moldovan
Chapter 6 The Banking Industry in the Ecosystem of Digital Currencies and Digital Central Bank Currencies
89(28)
Timotej Jagric
Dusan Fister
Aleksandra Anion
Vita Jagric
Sabina Taskar Beloglavec
Chapter 7 Applicable Knowledge for Sustainability. The Status of Artificial Intelligence in Industrial Production and the Impact of Future Sustainability
117(8)
Wolfgang H. Schulz
Oliver Franck
Stanley Smolka
Vincent Geilenberg
Chapter 8 Central Bank Digital Currency in Nigeria: Opportunities and Risks
125(10)
Peterson K. Ozili
Chapter 9 A Delphi-AHP Approach to the COVID-19 Effect on Digitalisation in the Banking Sector
135(16)
Violeta Cvetkoska
Gokulananda Patel
Milanka Dimovska
Chapter 10 The New Digital Era: Emerging Risks and Opportunities
151(18)
Rashmi Sharma
Chapter 11 Developing Students' Life Skills Through Edupreneurship in the Digital Era
169(22)
Muthma Innah
Ahmad Al Yakin
Muhammad Massyat
Enkeleda Lulaj
Gul Erkol Bay ram
Chapter 12 Tax Challenges in the Digital Economy: EU Perspective
191(22)
Sabina Hodzic
Chapter 13 Digitalisation: A New Era in the Energy Industry for Sustainability
213(18)
Sorana Vatavu
Oana-Ramona Lobont
Catalina Sitnikov
Florin Costea
Chapter 14 The Effects of Technology Readiness on Intention of Using the Mobile Payment Applications
231(20)
Sahnaz Eksioglu
Tulin Ural
Chapter 15 Online Gaming and Accountabilities in the Pandemic Environment: A Multi-faceted Perspective
251(20)
Tehmina Khan
Chapter 16 Development of a Destination Via Digitalisation of a Local Food Festival: The case of Elenski But, Elena Town, Bulgaria
271(16)
Nadezhda Kostadinova
Chapter 17 Labour Market Outcomes of Romanian Migrants Under the Covid-19 Pandemic and Digitalisation Challenges: A Spatial Bootstrap Approach
287(18)
Marilen Gabriel Pirtea
Grafiela Georgiana Noja
Mirela Cristea
Irina-Maria Grecu
Chapter 18 Smart City Using Cloud Services: A Systematic Literature Review
305(20)
Arb'er Hamdi Hoti
Hamdi Hoti
Edisona Kurhasku
Index 325
Simon Grima is the the Deputy Dean of the Faculty of Economics, Management and Accountancy, Associate Professor and the Head of the Department of Insurance and Risk Management at the University of Malta. He is also a professor at the University of Latvia, Faculty of Business, Management and Economics, Latvia.



Ercan Özen is Associate Professor of Finance in the Department of Finance and Banking, the Head of the Finance and Banking Department, Deputy Dean in Faculty of Applied Sciences, University of Uak, Turkey.



Hakan Boz is Associate Professor at Usak Universitys School of Applied Sciences, Turkey.