Emerging markets: the impact of ICT on the economy and society

Abstract

Purpose The purpose of this research is to quantifiably measure the relationship between technological advancement, economic growth and societal employment trends across the Brazil, Russia, India and China (BRIC) countries, while also describing various government initiatives and policy steps taken to promote technology development. Design/methodology/approach This paper examines the relationship between the United Nations’ International Telecommunication Union’s Information and Communication Technology (ICT) development Index (IDI), gross domestic product (GDP) and unemployment data. The paper also reviews the broadband and e-readiness components of each BRIC nation to further describe the policies in adoption of ICT. Findings This research concludes that there is in fact a significant positive correlation between technology (as measured by IDI) and economy (as measured by a nation’s GDP) and there is a significant negative correlation between technology (as measured by IDI) and a nation’s unemployment rate benefiting the society. Originality/value This research seeks to describe the impact of Information Communication Technology on economic and society indices in BRIC. Paper contributions include an empirical measurement and relationship between technological advancement, economic growth and employment trends across the BRIC countries, while also describing various government policy initiatives taken to promote technology.

Digital Literacy

“…Employment: To create new jobs, change the structure of jobs and the career development processes. According to (Amiri & Woodside, 2017;Gatautis et al, 2015) ICT integrated employment brings out more efficiencies, increase in productivity, development of new good and services, introduction to new market opportunities, provides flexibility of labor market, establishment of new financial systems, reduction in poverty and overall development of the country.…”

Small business awareness and adoption of state-of-the-art technologies in emerging and developing markets, and lessons from the COVID-19 pandemic

“…Most small businesses and local entrepreneurs in EMDEs tend to operate in the informal sector with limited funding and lack of human and social capital (Warnecke 2016;Ogunsade and Obembe 2016;Williams 2014). In some cases, the small and medium scale businesses (SMEs) in EMDEs are either unaware or lack the technical capabilities to implement the available state-of-the-art technologies (Abdullah 2002;Sookram and Watson 2008;Gurtoo and Williams 2009;Amiri and Woodside 2017). However, SMEs in these economies are gradually adopting the Internet and Web-related technologies to create social businesses and develop new business models (Venkatesh, Davis, and Morris 2007;Shaltoni 2017;Amiri and Woodside 2017;Omotosho 2020).…”

“…In some cases, the small and medium scale businesses (SMEs) in EMDEs are either unaware or lack the technical capabilities to implement the available state-of-the-art technologies (Abdullah 2002;Sookram and Watson 2008;Gurtoo and Williams 2009;Amiri and Woodside 2017). However, SMEs in these economies are gradually adopting the Internet and Web-related technologies to create social businesses and develop new business models (Venkatesh, Davis, and Morris 2007;Shaltoni 2017;Amiri and Woodside 2017;Omotosho 2020). Although these developments are improving the status quo, the systemic challenges in the EMDEs continue to inhibit the adoption and implementation of state-of-the-art technologies (Makiwa and Steyn 2018;Omotosho 2020;Suyambu, Anand, and Janakirani 2020;Wollschlaeger, Sauter, and Jasperneite 2017).…”

The Global Measure of the Social Economy Models Development

“…Він може також опосередковано використовуватися для оцінки результативності моделей соціальної економіки у глобальному вимірі. С оціальні виміри глобального економічного розвитку країн світу, з одного боку, відтворюються в основних сучасних трендах розвитку моделей соціальної економіки -екологізації, цифровізації соціальної економіки [11][12][13][14][15], а, з іншого боку, -в ефективності моделей соціальної економіки. Останнє полягає в оцінці соціальних економік країн світу за запропонованими глобальними соціальними індикаторами.…”