Open Markets and Cross-Border Investments: Strategic Impact on the Development of the Global Creative Economy

Abstract

Scientific intelligence aims to position Industry 4.0 and the creative economy as integral parts of the modern economy at both local and global levels. The new economic realities are prompting changes in all spheres of life. Simultaneously, the economy requires innovative transformation and a new model of development. Information and technology are the two key elements of the Fourth Industrial Revolution in the contemporary scientific worldview. The task of this article is to distinguish between the concepts of the Fourth Industrial Revolution, Industry 4.0, the Creative Economy, and to define the necessary and effective economic models in the modern socio-cultural space. The research methodology is based on the synergy of general scientific methods (analysis, systematization, classification, structuring), the methodology of scientific economic discourse (methods of absolute and comparative advantages, modeling, optimization, equilibrium determination), and philosophical-scientific methodological principles. The results of the study are grounded in the principles of informatization and technologization and are embodied in theoretical methods and proposals of organizational logic for modern economic innovation models that correspond to the concept of the global paradigm of the Fourth Industrial Revolution. Therefore, the modern economy adheres to the principles of dynamism, mobility, pragmatism, and creativity. These concepts constitute the innovative potential of the modern economic paradigm and serve as the basis for implementing processes of digitalization, informatization, and technologization.