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

Authors :
Chenic, Alina Ștefania
Burlacu, Adrian
Dobrea, Răzvan Cătălin
Tescan, Laurenţiu
Creţu, Alin Ioan
Stanef-Puica, Mihaela Roberta
Godeanu, Teodor Narcis
Manole, Alina Magdalena
Virjan, Daniela
Moroianu, Nicolae
Source :
Electronics (2079-9292); Apr2023, Vol. 12 Issue 7, p1612, 18p
Publication Year :
2023

Abstract

Digitalization has become a watchword in all areas of economic and social activity, and its integration has become a necessity for every state worldwide. If a few years ago we were talking about technological innovation and cutting-edge technologies we are now talking about digital technologies, robotics, big data, and artificial intelligence, and future industrial production will develop in symbiosis with modern information and communication technology. The paper aims to show the impact of digitalization on macroeconomic indicators, including labor productivity, value-added, and value of exports of goods and services, and in this regard, we have built an econometric model to see how digitalization and the evolution of macroeconomic indicators work, and how they will influence the degree of growth and economic development. The research results verify the hypotheses we started from, namely that there is a positive and strong correlation between digitalization and productivity, as well as between digitalization and value-added, and that there is a positive, yet weaker correlation between digitization and exports. The impact of digitalization on macroeconomic indicators extends beyond the theoretical and practical implications, as they influence both the decision-making process of the companies' management and national and European economic policies. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
20799292
Volume :
12
Issue :
7
Database :
Complementary Index
Journal :
Electronics (2079-9292)
Publication Type :
Academic Journal
Accession number :
163042769
Full Text :
https://doi.org/10.3390/electronics12071612