THE BASIC PRINCIPLES OF ADAPTATION OF THE INSTITUTIONAL ENVIRONMENT OF AGRO-FROD COMPLEX TO THE CONDITIONS OF THE DIGITAL ECONOMICS

Abstract

In the studies of domestic scientists and economists, much attention is paid to the current trend of the transition of economic processes to a virtual form. It is emphasized that competitive advantages, providing by the digital economics, involves institutional changes. The article shows the increasing role of information in the development of the modern agro-food complex. The main principles of adaptation of the institutional environment of the agro-food complex to the requirements of the digital economy are formulated. It is grounded that in the process of digital technologies development, role and functions of traditional institutions change. Particular attention is paid to deepening the information interaction between economic entities during the of food chains formation. It is theoretically justified that the wide use of information technologies can lead to qualitative changes at all stages of agricultural production, contributing to the reduction of production costs and final prices for food products not only by automating processes within the production cycle, but also by eliminating unnecessary intermediate links in the added value chain.