Digital economy: towards a conceptual research framework based on bibliometric and in-depth analyses

The improvements in connectivity, artificial intelligence, and automation and their increasing penetration into all aspects of society and economy require informed decisions based on rigorous research on the determinants and outcomes of the digital economy. This context has promoted policy incentives dedicated to the digital transformation of business models and societal settings with a potential to disrupt existing markets and form a backbone of future development. The interest in digital economy and the research domains strongly connected to it has generated a wide array of terms that created confusion over its theoretical foundations. Several bibliometric analyses in recent years have attempted to map scientific findings and provide guidelines for future research in this area. However, such analyses draw their conclusions from algorithms that focus on attributes common to all studies without looking at their content. Our study combines bibliometric and in-depth content analyses to shed light on the definition, theoretical underpinnings, and state of the art of research on the digital economy. Our findings show that research in this domain is still in its infancy and the stated focus of studies on digital economy is often not reflected in their content. The study design allows us to make an original contribution by more precisely identifying gaps in the existing knowledge, outlining a detailed research agenda, and providing guidelines for future studies as well as informed policy decisions based on rigorous research on the determinants and outcomes of the digital economy.