The Impact of Digital Economy on the Economic Growth and the Development Strategies in the post-COVID-19 Era: Evidence From Countries Along the “Belt and Road”

Abstract

The digital economy is considered as an effective measure to mitigate the negative economic impact of the Corona Virus Disease 2019 (COVID-19) epidemic. However, few studies evaluated the role of digital economy on the economic growth of countries along the “Belt and Road” and the impact of COVID-19 on their digital industries. This study constructed a comprehensive evaluation index system and applied a panel data regression model to empirically analyze the impact of digital economy on the economic growth of countries along the “Belt and Road” before COVID-19. Then, a Global Trade Analysis Project (GTAP) model was used to examine the impact of COVID-19 on their digital industries and trade pattern. Our results show that although there is an obvious regional imbalance in the digital economy development in countries along the “Belt and Road”, the digital economy has a significantly positive effect on their economic growth. The main impact mechanism is through promoting industrial structure upgrading, the total employment and restructuring of employment. Furthermore, COVID-19 has generally boosted the demand for the digital industries, and the impact from the demand side is much larger than that from the supply side. Specifically, the digital industries in Armenia, Israel, Latvia and Estonia have shown great growth potential during the epidemic. On the contrast, COVID-19 has brought adverse impacts to the digital industries in Ukraine, Egypt, Turkey, and the Philippines. The development strategies are proposed to bridge the “digital divide” of countries along the “Belt and Road,” and to strengthen the driving effect of the digital economy on industrial upgrading, employment and trade in the post-COVID-19 era.

The dilemma and path of digital empowerment of enterprise asset management

“…As an important product of the third technological revolution, the digital economy has had an important impact on the development of human society. In the context of the 2019 coronavirus (COVID-19) outbreak, the digital economy is considered an effective measure to effectively mitigate its negative economic impact (Zhang et al, 2022). The development of the digital economy and enterprise production are relatively well integrated, and the digital economy has become a research hotspot at this stage.…”

“…The development of the digital economy and enterprise production are relatively well integrated, and the digital economy has become a research hotspot at this stage. At the same time, the digital economy also promotes industrial upgrading in the post-COVID-19 era, and employment and trade play a good role in promoting (Zhang et al, 2022), which has a certain role in promoting the successful transformation of enterprise asset management. This paper studies the specific embodiment of digital economy empowering enterprise asset management from the perspective of digital finance and the Internet.…”

Research on the Construction of Digital Economy Index System Based on K-means-SA Algorithm

“…Li & Wang, 2022;Yan et al, 2022). Most scholars have specifically analyzed the application and influence of the digital economy from the perspectives of highquality development, networking, and industrial conversion and upgrading (Han et al, 2022;Ren, Wang, & Liu 2023;Zhang, Zhao, & Cheng). However, more studies must evaluate the digital economy, especially in forming a digital economy index system.…”

Evaluation of the Government's Makassar Recover Program in Makassar City

“…It can be interpreted to what extent the community understands, its legal basis, and its goals through the Makassar Recover program, it can be said that the Makassar Recover program is a multi-innovation program created by the mayor of Makassar city to deal with the Covid-19 pandemic, as well as postpandemic adaptation and post-pandemic economic recovery. and for its legal basis, it is contained in Makassar mayoral regulation number 5 of 2021, then for the purposes of the Makassar Recover program, namely increasing public health immunity during the co-19 pandemic, understanding and implementing social adaptation to change good behavior during the co-19 pandemic, and establishing strategies and steps in recovering the regional economy so that Makassar is recovered, healthy and safe from the co-19 pandemic (Cheng et al, 2019;Ishikura, 2020;Liu et al, 2021;Lyu et al, 2022;Tang, 2022;Zhang et al, 2022).…”