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Most publications justify that digitalization is a source of economic growth, to a greater extent in the countries with higher levels of economic development. However, some papers fail to find empirical evidence supporting this claim, attributing it to digitalization being in its initial stages or to the presence of the digitalization paradox. Economic literature exhibits a degree of ambiguity in its conclusions regarding the role of the digital economy in growth. Researchers employ different measures of digitalization, country and year samples, control variables in regression equation, as well as different regression methods, which can provoke ambiguous effects on the parameters of digital variables. The purpose of the article is to identify the role of digitalization in economic growth by justifying an economic growth model with the digitalization index and providing detailed discussions on our sample of countries over recent years, along with options for regression estimators. The article utilizes statistical data from the World Bank, European Commission, and Heritage Foundation. Methods such as system analysis, statistical analysis, and the regression estimator of panel data with fixed effects are implemented to identify the role of digitalization in economic growth. We have designed an economic growth model incorporating the Digital Economy and Society Index (DESI) of EU member states for the years 2017-2022, utilizing available data. The results reveal a positive and significant causal effect of digitization on gross output growth. Specifically, a 1% increase in the digitalization index results in GDP growth of almost 0.2%. Moreover, we observe the important roles of capital, labor, trade, human capital, and intellectual property rights in driving growth, consistent with the theory of endogenous growth. Proving the importance of digitalization for economic growth can be an argument for policies aimed at promoting digitalization. We suggest further research on the role of digitalization at a more disaggregated level of industries. However, our study does not demonstrate a statistically significant effect of research activity and institutional quality on gross output. We have discussed possible reasons for this and propose further research in these areas. [ABSTRACT FROM AUTHOR]

The entertainment industry in its present state, as occasioned by the new wave of technology, is a ‘cash cow’. However, most African countries, Nigeria inclusive, are not fully tapping into its great potential to generate the required revenue for their economic growth and development. Anchored on the premise of cultural history, the paper adopts the historical research method to interrogate the concept of entertainment from the pre-colonial era to its current state and find the nexus between entertainment and the economic growth of nations. It finds that the entertainment industry is a gold mine that is not fully explored and concludes that Nigeria needs to capitalise on the new forms of technological advancement that could enhance and boost her economy. It recommends that young people need to be trained and repositioned in the process of driving modern entertainment and creative industries. Future researches need to explore ways Nigerians and Africans will learn to harness and absorb the positive changes in technological advancement and the digital revolution that is fast changing the face and pace of entertainment and the creative industries. This paper was limited by the shortage of schorly documentation on the emerging Nigerian creative industries. [ABSTRACT FROM AUTHOR]

The paper aims to improve the methodology of the Digital Economic and Society Index (DESI), the European Commission's newest index to assess the development of the digital economy. In particular, we investigate whether methodological changes to the structure of DESI improve its ability to capture the digital transformation of EU economies. Using the sensitivity-based analysis, we check whether the selection of weights of individual elements included in the DESI is optimal or should be improved. We also verify the importance of DESI in explaining changes in GDP per capita in EU economies. In the literature, we find that digital transformation has enabled the creation of new business models and maximized efficiency in traditional firms. Using DESI, we empirically test whether the gap between rich and poor countries in European Union can be closed or eliminated through rapid and intensive digital transformation. Our results show that the DESI -- when modified by eliminating the pillars on internet services and digital public services -- has the same explanatory power. Connectivity is the dimension with the largest impact on digital transformation in EU countries. We also find that DESI is a significant regressor to explain changes in GDP per capita in EU countries. [ABSTRACT FROM AUTHOR]

This study analyzed the impact of technological progress and digitization on Ghana's economy using panel data for the period 2009–2019. Technological progress and economic growth inter-dependency was analyzed in two steps. First, the relation was tested using Augmented Dickey–Fuller method. Second, we estimated the long-run relation between the variables by using Engel Granger and Error Correction models. The results indicate that adopting technology or digitizing the economy has the potential to drive sustainable growth and development. In particular, it was noted that ICT investments drive high productivity rates and faster economic growth. In sum, technological progress and digitization have the potential to foster significant growth and therefore must be given high credence in the planning and designing of development programmes. This paper contributes to development theories on the role that ICT plays in economic growth and development. [ABSTRACT FROM AUTHOR]

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To further promote the theoretical research on digital finance's effective support for highquality development of the real economy, this paper reviews the current status of domestic and foreign research on the impact mechanism of digital finance on the real economy and the impact mechanism of digital finance on economic growth. At present, domestic and foreign research on the impact mechanism of digital finance on the real economy mainly includes the basic transmission mechanism featuring the improvement of financing availability and guiding the flow of funds in the real economy, and the indirect transmission mechanism using innovation and R&D as a channel. Domestic and foreign research on the impact mechanism of digital finance on economic growth mainly includes: the direct impact mechanism featuring the improvement of financial services universality and efficiency, and the indirect impact mechanism with resident consumption, innovation and entrepreneurship, industrial structure transformation, and business environment as the channels. Future research directions include: deepening the research on the indirect transmission mechanism of digital finance to the real economy; expanding the research on the indirect impact mechanism of digital finance on economic growth. [ABSTRACT FROM AUTHOR]

We theoretically study the impact of two innovation policies on economic growth in a region that is creative in the sense of Richard Florida and that uses digital technologies to produce a final consumption good. The use of these digital technologies in our creative region gives rise toincompleteknowledge spillovers. Our analysis generates three salient findings. First, we characterize the balanced growth path (BGP) equilibrium. Second, we solve the social planner's problem, describe the Pareto optimal allocation of resources, and then compare the Pareto optimal allocation with the BGP equilibrium allocation. Finally, we study the impacts that a research subsidy and a particular patent policy have on economic growth in our creative region and then we relate our findings to the incompleteness of the above-mentioned knowledge spillovers. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Economics & Administrative Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The current global changes bring to the fore the importance of the innovation and digital transformation for economic development. Under the previous assumption, an objective evaluation of the economic growth discrepancies, considering the digitalization process, is required. The main goal of the present research is to analyse the economic growth of the European countries, based to the digitalization process, by using an input-output method. Under these circumstances, a Data Envelopment Analysis (DEA) was performed, considering the digitalization dimensions of DESI Index as input and the economic growth (annual %) as output. Based on the proposed model, the results highlighted the bidirectional relationship between economic growth and digitalization. Consistent with the research results, the European countries can be divided in two main categories: the efficient and the inefficient. On one hand, we can find the relatively efficient European states in terms of achieving the economic growth through digitalization (Ireland, Romania, Croatia and Greece). On the other hand, there is a numerous list of the inefficient ones, including important countries like Finland, Germany or France. Obviously, a remarkable aspect related to their situation is that, considering the national available inputs, an output maximization will be possible. According to the proposed model, the efficient countries can serve as peers or optimal benchmarks for solving the issue of relative inefficiency, by adapting and implementing their good practices. [ABSTRACT FROM AUTHOR]

This paper presents empirical evidence on the link between social equality and technology waves in the U.S. 1860–2019. We measure the impact of various technology adoption by the U.S. households on their social condition (social equality). Using unbalanced panel data for the U.S., we measure the individual technology impact (wave) on social equality over the last 160 years. The findings indicate that technology substantially impacts social equality (proxied by the life inequality index). Technology's impact on social equality varies across technology waves so that we can conclude not all technology is equally suitable for people. Digital technology adoption is significantly improving social equality in the U.S. The results also confirm that technology waves alone in the U.S. can explain about 30 % of changes in social equality. Policymakers should look at technology as a strong driver of social equality and adjust social policy accordingly. Economic growth models in a digital revolution time must pay attention not only to the Solow (1957) residual but also on social equality as a source of growth. • Income inequality occupies a large part of the economics body of literature • Using univariate singular spectrum analysis (SSA) (Ghil et al., 2002) we build a new time-series database. • We use this database for U.S 1860-2019 to investigate the link between technology adoption and social equality in the U.S • Our results show that technology's impact on social equality varies across technology waves • Our research raises an important question about the role of technology in promoting social equality [ABSTRACT FROM AUTHOR]

It is known that the evolution of digital technologies, together with a combination of other essential generic technologies, leads to a change in the way we design, produce and market related products and services, as well as in the way how value is generated from them. Digitalization and transformation of the business process to create remarkable customer experience are absolutely necessary for any company that wants to evolve and succeed in the fast-digitizing business environment. The main objective of this research was to discover how digitalization influences economic growth. The databases used were Eurostat and World Bank. We selected 8 main research variables, which were divided into two sets to describe (i) the phenomenon of digitalization by digital skills, mobile subscriptions, enterprises with e-commerce, and (ii) the phenomenon of economic growth by real GDP growth, unit labour cost growth, resource productivity and R&D expenditure of GDP. The research methodology was centred on Canonical Correlation Analysis to reveal the connections within and between the two phenomena. The results revealed, for example: the digitalization set was able to explain 70.33% of economic growth with the correlation of 0.800; the real GDP growth is affected by the share of enterprises involved with e-commerce, unit labour costs and resource productivity are affected by high-level digitalization seen by enterprises conducting data analysis on customers for marketing purposes; and that digital skills and R&D expenditures are positively related. [ABSTRACT FROM AUTHOR]

This paper examines the contribution of digitalization to economic growth of Sub Saharan Africa (SSA) in comparison with the Organization for Economic Cooperation and Development (OECD) economies. The main reason for comparing the most and the least developed countries to measure the effects of digitalization is to have an insight of whether such effects depend on the levels of development of the country. New technologies in Sub Saharan Africa are assumed to have played significant roles in economic activity, including accessibility of communications, which was impeded by poor infrastructure, accommodation of the poor majority who were initially financially excluded from mobile banking and participation of small and medium enterprises (SMEs) in e-commerce. On the other hand, due to the effects of digitalization, least developed countries in SSA have been facing a premature deindustrialization. This study employs a panel dataset consisting of 11 years from 2006 to 2016 for 41 SSA and 33 OECD economies and we use the generalized linear methods of moments (GMM) estimators. The results show that digitalization has a positive contribution to economic growth in both groups of countries. The effect of broadband internet is minimal for SSA compared to OECD countries, whereas the impact of mobile telecommunications is higher in SSA compared to the OECD counterpart. These results are particularly interesting as less advanced technologies create more opportunities in the least developed countries since there is more space for improvement. With respect to policy implications, this study recommends that SSA governments should invest more in ICT along with other infrastructures, so as to benefit from digitalization and to realize significant economic growth. • Examines the contribution of digitalization to economic growth of Sub Saharan Africa (SSA) in comparison with the OECD economies. • Analyses the positive and negative effects of digitalization developing countries. • Employse a panel data set for 74 countries and uses GMM estimators. • Finds that digitalization has a positive contribution to economic growth in both groups of countries. • Finds that broadband internet and mobile telecommunications have different impacts for OECD and SSA countries. [ABSTRACT FROM AUTHOR]

Copyright of Ekonomika is the property of Society of Economists 'Ekonomika' and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)