Building a legal framework to facilitate the transformative potential of digital economies

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Parry, R. ORCID: 0000-0001-8285-2191, 2022. Building a legal framework to facilitate the transformative potential of digital economies. Nottingham Insolvency and Business Law e-Journal, 10: 5. ISSN 2053-1648 (Forthcoming)

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Abstract

Digital and knowledge-based economies have been recognized as offering great prospects for the economic transformation of many developing countries. As well as offering the possibilities for increased trade in services, the digital economy can facilitate education, promote social inclusion and bring about improvements to manufacturing, agricultural and medical technologies. Often the focus in literature has been this enhancement of state functions but it is also important to have regard to businesses that operate in the digital economy as they offer much potential for economic development. A country’s laws should be an important part of any strategy to build a digital economy. This article will highlight two aspects, one soft law and one hard law. It considers how best practices by technology businesses as part of their corporate governance structures can enable them to be resilient in the face economic downturns and to weather shocks such as hacking, force majeure events and many other risks. It also considers how insolvencies in this sector can best be handled with minimal impact on users of digital services.

Item Type:

Journal article

Publication Title:

Nottingham Insolvency and Business Law e-Journal

Creators:

Parry, R.

Publisher:

Nottingham Law School, Nottingham Trent University

Date:

16 October 2022

Volume:

ISSN: