MECHANISMS OF TRANSITION TO THE DIGITAL ECONOMY IN DEVELOPING COUNTRIES/REALITY AND CHALLENGES (THE EXPERIENCE OF SINGAPORE AS A MODEL)
The digital revolution has become the basis of the global economy. Technological developments, information systems and intellectual capital have contributed to building the digital economy, which has been characterized by the interdependence and integration of business and financial institutions, the reduction of cost and time, and the increase in quality in performance. Technical innovation has become a driver of economic growth in developed countries. With regard to developing countries, they face a challenge in their transition towards a digital economy represented by the digital divide between them and developed countries, which necessitates cooperation with these countries to benefit from technology applications, manage them and employ them economically. However, this did not stand in the way of a number of developing countries, including (Singapore). which was able to harness technology, the Internet and skilled manpower to serve its economy in the field of trade, finance, tourism, education, health and government administration, to become a model for developing countries in financing towards the digital economy, as they excelled in their international competitiveness to be present in the global economic scene.
Keywords: Digital Economy, Digital Divide, Electronic Commerce, E-Government, Smart Cities, Digital Currencies.