The Impact of Digitalization on Macroeconomic Indicators in the New Industrial Age

Chenic, Alina Ştefania; Burlacu, Adrian; Dobrea, Răzvan Cătălin; Tescan, Laurenţiu; Creţu, Alin Ioan; Stanef-Puica, Mihaela Roberta; Godeanu, Teodor Narcis; Manole, Alina Magdalena; Virjan, Daniela; Moroianu, Nicolae

doi:10.3390/electronics12071612

Cited by 6 publications

(4 citation statements)

References 18 publications

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“…According to the mainstream approach, the researchers applied a digital transformation to the digitization transition experienced in company processes. However, parallel to the significant macroeconomic effects of Industry 4.0, the terminology can also be applied to the entire macroeconomics of [11,12].…”

Section: The Role and Importance Of Digital Transitionmentioning

confidence: 99%

The relationship between digital development and economic growth in the European Union

Török

2024

IRASE

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Numerous studies have proven that digital development positively affects economic growth. This study aims to confirm or refute the positive impact of digital evolution on economic growth by applying the dimensions of the International Digital Economy and Society Index (I-DESI). The analysis refers to the period 2015–2020 of the European Union member states. The study's novelty is that the I-DESI index has yet to be used in research to investigate the relationship between the digital transition and GDP production. The present study, therefore, goes one step further than the previous typical DESI-GDP models. The research uses Pearson correlation and F-statistic analysis to show the relationship between the variables. The study confirms that digital development has positively impacted the economic growth of EU member states. This result was confirmed by both Pearson and Spearman correlation. However, the results are ambivalent. The empirical results indicate that the more digitally developed member countries had a higher GDP per capita. However, the positive effect is different. The results confirm that the development of digitalization and GDP increased more dynamically in the more digitally developed EU member states than in the less developed member states. Therefore, an increase in the backwardness of the less developed member countries and not a catch-up can be observed in the period under review.

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Section: The Role and Importance Of Digital Transitionmentioning

confidence: 99%

The relationship between digital development and economic growth in the European Union

Török

2024

IRASE

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“…Numerous scientific studies have been conducted in this domain, with mixed findings. For example, Chenic et al (2023) empirically examined the influence of digitalization on macroeconomic variables and concluded that digitalization has a beneficial effect on GDP and value-added but has a weak correlation between digitalization and export. The authors Debbarma et al (2022) advocate in the same vein that the higher digitization of firms will have a significant positive influence on the promotion of exports.…”

Section: Variables and Development Of Hypothesismentioning

confidence: 99%

“…As a result, in compliance with this principle of testing, our study employed the Hausman analysis, the outcomes of which are shown in Table 4 in the second section titled screening tests. Our study will adopt the methodology employed by Chenic et al (2023), Wang and Choi (2019), and Bahrini and Qaffas ( 2019), but with an update to modify it to our selected variables.…”

Section: Model Developmentmentioning

confidence: 99%

Effects of Broadband and Telephone Subscription on Exports in New Global Era: Evidence from Southeast European Countries

Spahiu,

McArdle,

Spahiu

et al. 2024

CEBR

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The overall objective of the current research is to examine the influence of information technology components on the export-to-GDP ratio, especially focused on the changes caused by the events of the 20th century for Southeast European countries (SEC). The motivation for selecting these countries is to evaluate if they have achieved a sufficient level to adapt the digital developments. To overcome these challenges, the study used a hybrid technique, employing random (RE), fixed (FE) regression, and Arellano-Bond estimations on panel data gathered from 13 countries from 2006 to 2021. The results confirm that fixed broadband subscriptions (FBS), gross formation capital (GFC), and official exchange rate (ORE), have a strong positive effect on the export-to-GDP ratio. Additionally, fixed telephone subscriptions (FTS), foreign direct investments (FDI), and inflation (INF) have a significant negative impact on the exports-to-GDP ratio. The Arellano-Bond technique reveals that FBS, INF, and ORE have a positive effect on exports, whereas FTS, GFC, and FDI have a negative effect. The novelty of this research is that it uses data comparisons that do not have access to a single determination in the economy but are conditioned to advancement, especially concerning global markets and the exploitation of gaps created by changes in supply chains. Implications for the Central European audience: Depending on the results of the research, it is anticipated that the policy-making structures and other regulatory authorities will create a clear overview of the importance of digitization and its dynamics in the realization of exports and the mitigation of the trade deficit. These discoveries will encourage the highly empowered actors to redesign the policies that will affect the expansion and increase of the quality of the infrastructure of broadband and telephone subscriptions. By expanding and increasing the quality of the economic structure of the respective countries, they will be able to maximize the progress of the export value, which is almost one of the main goals of each country included in the analysis.

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“…According to the mainstream approach, digital transformation has been applied by researchers to the digital transformation of business processes. Still, the terminology can also be used for the macroeconomy as a whole, in parallel to the macroeconomic impact of Industry 4.0 [3,4].…”

Section: Introductionmentioning

confidence: 99%

Digital Transformation of Hungary’s Economy between 2015 and 2021: Results and Future Objectives

Török

2024

Sustainability

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Hungary is a member of the European Union (E.U.), so more than three-quarters of its trade relations are with the E.U. Hungary’s strategic objective is to be among the top-ten E.U. member states in digitalization by 2030. This study aims to examine the country’s digitization development and planned digitization programs and, based on these, to predict Hungary’s expected digitization status. This study also attempts to answer whether Hungary is among the ten most digitally developed E.U. member states. We use the K-means clustering method to assess the current state of digitization and different generic methods to determine future development. The results show that Hungary’s digital development is close to the middle level of the E.U. However, future digital development in Hungary will be more dynamic than in the European Union. This more dynamic Hungarian growth is predicted to catch up with the average of the E.U.’s digital development. However, the results of the extrapolation calculations show that the Hungarian goal of Hungary being among the ten most developed digital countries in the E.U. by 2030 is unrealistic.

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The Impact of Digitalization on Macroeconomic Indicators in the New Industrial Age

Cited by 6 publications

References 18 publications

The relationship between digital development and economic growth in the European Union

The relationship between digital development and economic growth in the European Union

Effects of Broadband and Telephone Subscription on Exports in New Global Era: Evidence from Southeast European Countries

Digital Transformation of Hungary’s Economy between 2015 and 2021: Results and Future Objectives

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