DIGITAL TRANSFORMATION AND ITS INFLUENCE ON GDP

  • Ljubiša Mićić University of Banja Luka, Faculty of Economics, Bosna i Hercegovina

Abstract

Digital transformation as integration of digital technology into business results in fundamental changes of way world does business, communicate and develops on national and international level. Tere is increase of high-tech public spending which is connected with increase of need for high-tech as well as importance and benefts that it brings to development of economy. Tis so called digital or high-tech sector is one of the strategic sectors in the leading world economies, starting from the US and the European Union. EU recognized it in strategic document “Europe 2020” which sees this sector as key factor in smart growth based on tech knowledge and innovation. 


Europe, especially western and northern Europe, is trying to keep its competitiveness in global tech arena with USA and fast developing countries such as China and India as well as Asian tech giants such are Japan, South Korea and Singapore.
There is increase of European countries investment in digital transformation through private andpublic ICT sector development which usually has positive impact on economic growth as well askey indicators such are GDP, productivity and employment.
This paper provides basic review of digital transformation and high-tech sector in Europe as well as comparison between EU and Western Balkan countries. Additionally, there is analysis of influence of ICT spending on GDP growth. Paper could serve as basic for further research in area of influence of tech investment on key macroeconomics indicators.

Downloads

Download data is not yet available.

Author Biography

Ljubiša Mićić, University of Banja Luka, Faculty of Economics, Bosna i Hercegovina


References

1. Albers, R. M. (2006). From James Watt to Wired Networks: Technology and Productivity in the Long Run in Mas. Growth, Capital and New Technologies.
2. ATOMICO. (2016, January). http://www.atomico.com. Preuzeto sa State of European Tech 2016: http://www.atomico.com/news/the-state-of-european-tech-2016
3. Bitkom Research. (2015). EITO ICT Market Report 2014/15 Update. Bitkom.
4. Daveri, F. (2000). Is Growth an ICT-story in Europe too? IGIER, 168.
5. Dedrick, J., Gurbaxani, V., & Kraemer, K. (2003). Information technology and economic performance: A critical review of the empirical evidence. ACM Computing Surveys 35, 1–28.
6. Dewan, S., & Kraemer, K. (2000). Information technology and productivity: Preliminary evidence from country-level data. Management Science 46 (4), 548–562.
7. Eurostat. (2014). Economic statistics on high-tech sectors in 2014. Eurostat.
8. Eurostat. (2015). Economic statistics on high-tech sectors in 2015. Eurostat.
9. Farhadi, M., Ismail, R., & Fooladi1, M. (2012). Information and Communication Technology Use and Economic Growth. PLOS ONE.
10. Jalava J, P. M. (2002). Economic growth in the new economy: Evidence from advanced economies. Information Economics and Policy 14, 189–210.
11. Jalava, J., & Pohjola, M. (2002). Economic growth in the new economy: Evidence from advanced economies. Information Economics and Policy 14, 189–210.
12. Kiley, M. (1999). Computers and Growth with Costs of Adjustment: Will the Future Look Like the Past?. . Finance and Economics Discussion Series Paper 1999, str. 36. Preuzeto sa http://www.federalreserve.gov/pubs/feds/1999/index.html
13. Kvochko, E. (2013, April 11). Preuzeto sa World Economic Forum: https://www.weforum.org/agenda/2013/04/fve-ways-technology-can-help-the-economy/
14. Mastilo, Z. (2017). Impact of Digital Growth in Modern Business. Red frame, 3(4), 59-63. doi:10.11114/bms.v3i4.2650
15. Matijevic, M., & Solaja, M. (2015). ICT in Serbia - At a Glance. Novi Sad: Vojvodina ICT klaster.
16. OECD. (2002). Measuring Te Information Economy. OECD: Paris.
17. OECD. (2009). Guide to Measure the Information Society, . Paris: OECD.
18. Schreyer, P. (2000). Te Contribution of Information and Communication Technology to Output Growth: A Study of the G7 Countries. OECD Science, Technology and Industry 2000/02.
19. Statista. (2015). https://www.statista.com/. Preuzeto sa https://www.statista.com/: https://www.statista.com/statistics/268940/percent-growth-in-it-spending-worldwide-by-segment/
20. Wauters, R. (2016). European Tech Funding Report 2015. European Tech Funding.
21. Whitehead, G. (2016, January 18). Real Business. Preuzeto sa http://realbusiness.co.uk/tech-andinnovation: http://realbusiness.co.uk/tech-and-innovation/2016/01/18/the-european-investmentand-technology-industry-trends-to-expect-in-2016/
Published
2017-12-29
How to Cite
MIĆIĆ, Ljubiša. DIGITAL TRANSFORMATION AND ITS INFLUENCE ON GDP. ECONOMICS - Innovation and economic research, [S.l.], v. 5, n. 2, p. 126-138, dec. 2017. ISSN 2303-5013. Available at: <http://economicsrs.com/index.php/economicus/article/view/122>. Date accessed: 22 sep. 2018.
Section
Review report