Digital Transformation of the South Asia Region: Challenges and Prospects

Abstract

The digital economy is on the agenda all over the world today, it represents a new paradigm for the development of cooperation between countries and can become a driver of their economic growth. The implementation of the key digitalization agenda is one of the main priorities for the development of the economies of South Asia. The purpose of the study was to determine the impact of the digital economy, and the introduction of R&D on the development of the economies of South Asian countries. Exploring the development of the transformation of the digital economy in the countries of South Asia, we came to the conclusion that this process can be significantly facilitated by the introduction of blockchain technology and cryptocurrencies. The use of a mathematical correlation and regression model led to the conclusion that the growth of R&D funding in South Asian countries has a positive effect on the development of their economies.