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RELATIONSHIP BETWEEN PRODUCTIVITY AND DIGITALIZATION WITH TOBIT MODEL BASED ON MALMQUIST INDEX

Year 2022, DİJİTAL DÖNÜŞÜM VE VERİMLİLİK, 67 - 78, 12.01.2022
https://doi.org/10.51551/verimlilik.986964

Abstract

Purpose: The sources of economic growth include capital, labor and the Solow surplus, dedicated to the study of Solow (1956). Solow surplus is the inexplicable part of growth with labor and capital and is expressed as technological advances. Solow surplus also means total factor productivity (TFP). In other words, economic growth is explained by TFP depending on technology from the past to the present. These days, digitalization is known to be the new technological revolution. In light of this concept, the study aims to demonstrate the impact of digitalization on TFP.

Methodology: A TFP calculation based on the Malmquist index was made using labor, capital and gross domestic product data for 30 countries in the period 2012-2020. The Tobit Panel estimate was then used to determine the effect of digitalization on TFP in the relevant period.


Findings:
the results of the panel estimate are that digitalization has a significant and positive impact on TFP. The findings suggest that digitalization contributes to productivity.

Originality: The most important feature that distinguishes research from studies in the literature is that a verification method is selected that uses real data. In addition, works covering many countries in literature is limited. The research has results from a multi-country perspective.

References

  • Akaeva, A.A. and Sadovnichiib, V.A. (2021). “The Human Component as a Determining Factor of Labor Productivity in the Digital Economy”, Studies on Russian Economic Development, 32(1), 29-36.
  • Berlak, J., Hafner, S. and Kuppelwieser, V.G. (2021). “Digitalization’s Impacts on Productivity: A Modelbased Approach and Evaluation in Germany’s Building Construction Industry”, Production Planning & Control, 32(4), 335-345.
  • Bhatnagar, H. (2017). “Demonetization to Digitalization: A Step Toward Progress”, Management and Economics Research Journal, 3, 11-15.
  • Bilim, Sanayi ve Teknoloji Bakanlığı. (2018). “Türkiye’nin Sanayi Devrimi Dijital Türkiye Yol Haritası”, https://www.gmka.gov.tr/dokumanlar/yayinlar/2023_Dijital-Turkiye-Yol-Haritasi.pdf (Accessed Date: 20.07.2021).
  • Burkett, D. (2017). “Digitisation and Digitalisation: What Means What?” https://workingmouse.com.au/innovation/digitisation-digitalisation-digital-transformation. (Accessed Date: 11.07.2021).
  • Caves, D. W., Christensen, L. R. and Diewert, W. E. (1982). “Multilateral Comparisons of Output, Input and Productivity Using Superlative Index Numbers”, Economic Journal, 92, 73-86.
  • Cette, G., Nevoux, S. and Py, L. (2021). “The Impact of ICTs and Digitalization on Productivity and Labor Share: Evidence from French Firms”, Economics of Innovation and New Technology, DOI: 10.1080/10438599.2020.1849967.
  • Coelli, T. (1996). “A Guide to DEAP Version 2.1: a Data Envelopment Analysis (computer) Program. Centre for Efficiency and Productivity Analysis”, University of New England, Australia, 96(08), 1-49.
  • Coelli, T. J., Rao, D. S. P., O'donnell, C. J. and Battese, G. E. (2005). “An Introduction to Efficiency and Productivity Analysis”, Springer Science & Business Media, Austrilia.
  • Corduneana, A. (2018). “Schumpeterian View on Economic Development through Information Technologies”, Proceedings of the 9th International Conference of Doctoral Students and Young Researchers, Romania, 78-81.
  • European Commission. (2021). https://digital-strategy.ec.europa.eu/en/policies/digital-inclusion. (Accessed Date: 15.07.2021).
  • Eurostat. (2021), https://ec.europa.eu/eurostat. (Accessed Date: 15.07.2021).
  • Ezrachia, A. and Stucke, M. E. (2018). “Digitalisation and its Impact on Innovation”, European Commisson Working Paper.
  • Färe, R., Grosskopf, S., Norris, M. and Zhang, Z. (1994). “Productivity Growth, Technical Progress and Efficiency Change in Industrialized Countries”, The American Economic Review, 84(1), 66-83.
  • Gal, P., Nicoletti, G., Renault, T., Sorbe, S. and Timiliotis, C. (2019). “Digitalisation and Productivity: In Search of the Holy Grail Firm-Level Empirical Evidence from European Countries”, OECD, Economics Department Working Papers No. 1533.
  • Habibi, F. and Zabardast, M. A. (2020). “Digitalization, Education and Economic Growth: A Comparative Analysis of Middle East and OECD Countries”, Technology in Society, 63, 101370.
  • Hagberg, J., Sundstrom, M. and Egels-Zandén, N. (2016). “The Digitalization of Retailing: An Exploratory Framework”, Int. J. Retail Distrib. Manag., 44(7), 694-712.
  • Henriette, E., Feki, M. and Boughzala, I. (2016). “Digital Transformation Challenges”, MCIS 2016 Proceedings 33, http://aisel.aisnet.org/mcis2016/33(Accessed Date: 20.07.2021).
  • Horvat, D., Kroll, H. and Jäger, A. (2019). “Researching the Effects of Automation and Digitalization on Manufacturing Companies' Productivity in the Early Stage of Industry 4.0”, Procedia Manufacturing, 39, 886-893.
  • IEA. (2017). “Digitalization & Energy”, https://www.iea.org/reports/digitalisation-and-energy. (Accessed Date: 11.07.2021).
  • Jacobsen, C., Sørensen, A. and Junge, M. (2011). “Digitalization and Productivity”, Centre for Economic and Business Research, Frederiksberg.
  • Jeske, T., Wurfels, M. and Lennings, F. (2021). “Development of Digitalization in Production Industry – Impact on Productivity, Management and Human Work”, Procedia Computer Science, 180, 371-380.
  • Katz, R., Koutroumpis, P. and Callorda, R. M. (2013). “Using a Digitization Index to Measure the Economic and Social Impact of Digital Agendas”, info, 16(1), 32-44.
  • Kravchenko, O, Leshchenko, M., Marushchak, D., Vdovychenko, Y. and Boguslavska, S. (2019). “The Digitalization as a Global Trend and Growth Factor of the Modern Economy”, SHS Web of Conferences 65, 07004, 1-5.
  • Krutova, O., Koistinen, P., Turja, T., Melin, H. and Sarkikoski, T. (2021), “Two Sides, But not of the Same Coin: Digitalization, Productivity and Unemployment”, International Journal of Productivity and Performance Management, 70(2), 427-458.
  • Leon D. and Meyer V. (2019). “Efficiency Evaluation of Digitalization”, KTH Royal Institute of Technology Information and Communication Technology, Degree Project, Fourth Cycle, 15 Credits Stockholm, Sweden. Malmquist, S. (1953). "Index Numbers and Indifference Curves," Trabajos de Estatistica, 4, 209-242.
  • Mammadli, E. and Klivak, V. (2020). “Measuring the Effect of the Digitalization”, The University of Tartu FEBA. Mankiw, N. G. (2003). “Macroeconomics”, Worth Publishers, New York.
  • Mckinsey Global Institute (2018). “Solving The Productivity Puzzle: The Role of Demand and the Promise of Digitization”, McKinsey & Company.
  • Metlyakhi, A. I., Nikitina, N. A., Yarygina, L. V. and Orlova, E. O. (2020), “Analysis of the Impact of Economy Digitalization on Labor Productivity in Russia”, St. Petersburg State Polytechnical University Journal. Economics, 13(2), 7-17.
  • Myovella, G., Karacuka, M. and Haucap, J. (2020). “Digitalization and Economic Growth: A Comparative Analysis of Sub-Saharan Africa and OECD Economies”, Telecommunications Policy, 44, 101856.
  • OECD. (2020). “A Roadmap toward a Common Framework for Measuring the Digital Economy, Report for the G20 Digital Economy Task Force”, Saudi Arabia.
  • Oyeranti, G. A. (2000). “Concept and Measurement of Productivity”, http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.511.9388&rep=rep1&type=pdf. (Accessed Date: 29.07.2021).
  • Pakdemirli, B. (2019). “Dijital Dönüşüm ve Ekonomik Büyüme”, Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 12(32), 666-694.
  • Pilat, D. and Criscuolo, C. (2018). “The Future of Productivity What Contribution can Digital Transformation make?”, Policy Quarterly, 14(3), 10-16.
  • Prokopenko, J. (2005). “Verimlilik Yönetimi Uygulamalı El Kitabı”, (Çev.: O. Baykal, N. Atalay, E. Fidan), MPM Yayınları, No: 476, Ankara.
  • Savic, D. (2019). “From Digitization, through Digitalization, to Digital Transformation”, Online Searcher, 43, 36-39.
  • Solow, R. M. (1956). “A Contribution to the Theory of Economic Growth”, The Quarterly Journal of Economics, 70(1), 65-94.
  • Sturm, J. and Williams, B. (2002). “Deregulation, Entry of Foreign Banks and Bank Efficiency in Australia”, CESifo Working Paper, No: 816.
  • ŞengüL, Ü., Shiraz, S.E. and Eren, M. (2013). “Türkiye’de İstatistiki Bölge Birimleri Sınıflamasına Göre Düzey 2 Bölgelerinin Ekonomik Etkinliklerinin DEA Yöntemi ile Belirlenmesi ve Tobit Model Uygulaması”, Yönetim Bilimleri Dergisi, 11(21), 75-99.
  • Tobin, J. (1958). “Estimation of Relationships for Limited Dependent Variables”, Econometrica, 26(1), 24-36. Tone, K. (2004). “"Malmquist Productivity Index" Handbook on Data Envelopment Analysis”, Springer, US.
  • Trască, D. L., Stefan, G. M., Sahlian, D. N., Hoinaru, H. and Serban-Oprescu, G. L. (2019). “Digitalization and Business Activity. The Struggle to Catch Up in CEE Countries”, Sustainability, 11(2204), 2-17.
  • TÜBİSAD (2020). “Türkiye’nin Dijital Dönüşüm Endeksi”, Ofset Matbaacılık Sanayi ve Ticaret A.Ş. (Accessed Date:04.08.2021).
  • World Bank, https://databank.worldbank.org/source/world-development-indicators. (Accessed Date:11.07.2021).
  • Yılmaz, Y. (2021). “Dijital Ekonomiye Geçiş Süreci, Ölçümü ve Dijitalleşme Verimlilik İlişkisi”, İstanbul İktisat Dergisi, 71, 2021/1, 283-316.

MALMQUIST ENDEKSE DAYALI TOBIT MODEL ile VERİMLİLİK ve DİJİTALLEŞME İLİŞKİSİ

Year 2022, DİJİTAL DÖNÜŞÜM VE VERİMLİLİK, 67 - 78, 12.01.2022
https://doi.org/10.51551/verimlilik.986964

Abstract

Amaç: İktisadi büyümenin kaynakları arasında sermaye, emek ve Solow’un (1956) çalışmasına ithafen Solow Artığı yer almaktadır. Solow Artığı büyümenin emek ve sermaye ile açıklanamayan kısmı olup teknolojik ilerlemeler olarak ifade edilmektedir. Solow Artığı aynı zamanda toplam faktör verimliliği (TFV) demektir. Yani geçmişten günümüze ekonomik büyüme teknolojiye bağlı olarak TFV ile açıklanmaktadır. Bugünlerde dijitalleşmenin yeni teknolojik devrim olduğu bilinmektedir. İşte bu konsept ışığında çalışmada dijitalleşmenin TFV’ye etkisini ortaya koymak amaçlanmıştır.

Yöntem: 2012-2020 döneminde 30 ülke için emek, sermaye ve gayrisafi yurtiçi hasıla verilerinden faydalanılarak Malmquist Endekse dayalı TFV hesaplaması yapılmıştır. Daha sonra ilgili dönemde digitalleşmenin TFV’ye etkisini tespit etmek için Tobit Panel tahmini yapılmıştır.


Bulgular:
Panel tahmin sonuçları dijitalleşmenin TFV’yi anlamlı ve pozitif yönde etkilediği yönündedir. Bulgular dijitalleşmenin verimliliğe katkı sağladığını göstermektedir.

Özgünlük: Araştırmayı literatürdeki çalışmalardan ayıran en önemli özellik gerçek verilerin kullanıldığı bir doğrulama yönteminin seçilmiş olmasıdır. Ayrıca ilgili yazında birçok ülkeyi ele alan çalışma sınırlı sayıdadır. Araştırma çok ülke açısından sonuçlar barındırmaktadır.

References

  • Akaeva, A.A. and Sadovnichiib, V.A. (2021). “The Human Component as a Determining Factor of Labor Productivity in the Digital Economy”, Studies on Russian Economic Development, 32(1), 29-36.
  • Berlak, J., Hafner, S. and Kuppelwieser, V.G. (2021). “Digitalization’s Impacts on Productivity: A Modelbased Approach and Evaluation in Germany’s Building Construction Industry”, Production Planning & Control, 32(4), 335-345.
  • Bhatnagar, H. (2017). “Demonetization to Digitalization: A Step Toward Progress”, Management and Economics Research Journal, 3, 11-15.
  • Bilim, Sanayi ve Teknoloji Bakanlığı. (2018). “Türkiye’nin Sanayi Devrimi Dijital Türkiye Yol Haritası”, https://www.gmka.gov.tr/dokumanlar/yayinlar/2023_Dijital-Turkiye-Yol-Haritasi.pdf (Accessed Date: 20.07.2021).
  • Burkett, D. (2017). “Digitisation and Digitalisation: What Means What?” https://workingmouse.com.au/innovation/digitisation-digitalisation-digital-transformation. (Accessed Date: 11.07.2021).
  • Caves, D. W., Christensen, L. R. and Diewert, W. E. (1982). “Multilateral Comparisons of Output, Input and Productivity Using Superlative Index Numbers”, Economic Journal, 92, 73-86.
  • Cette, G., Nevoux, S. and Py, L. (2021). “The Impact of ICTs and Digitalization on Productivity and Labor Share: Evidence from French Firms”, Economics of Innovation and New Technology, DOI: 10.1080/10438599.2020.1849967.
  • Coelli, T. (1996). “A Guide to DEAP Version 2.1: a Data Envelopment Analysis (computer) Program. Centre for Efficiency and Productivity Analysis”, University of New England, Australia, 96(08), 1-49.
  • Coelli, T. J., Rao, D. S. P., O'donnell, C. J. and Battese, G. E. (2005). “An Introduction to Efficiency and Productivity Analysis”, Springer Science & Business Media, Austrilia.
  • Corduneana, A. (2018). “Schumpeterian View on Economic Development through Information Technologies”, Proceedings of the 9th International Conference of Doctoral Students and Young Researchers, Romania, 78-81.
  • European Commission. (2021). https://digital-strategy.ec.europa.eu/en/policies/digital-inclusion. (Accessed Date: 15.07.2021).
  • Eurostat. (2021), https://ec.europa.eu/eurostat. (Accessed Date: 15.07.2021).
  • Ezrachia, A. and Stucke, M. E. (2018). “Digitalisation and its Impact on Innovation”, European Commisson Working Paper.
  • Färe, R., Grosskopf, S., Norris, M. and Zhang, Z. (1994). “Productivity Growth, Technical Progress and Efficiency Change in Industrialized Countries”, The American Economic Review, 84(1), 66-83.
  • Gal, P., Nicoletti, G., Renault, T., Sorbe, S. and Timiliotis, C. (2019). “Digitalisation and Productivity: In Search of the Holy Grail Firm-Level Empirical Evidence from European Countries”, OECD, Economics Department Working Papers No. 1533.
  • Habibi, F. and Zabardast, M. A. (2020). “Digitalization, Education and Economic Growth: A Comparative Analysis of Middle East and OECD Countries”, Technology in Society, 63, 101370.
  • Hagberg, J., Sundstrom, M. and Egels-Zandén, N. (2016). “The Digitalization of Retailing: An Exploratory Framework”, Int. J. Retail Distrib. Manag., 44(7), 694-712.
  • Henriette, E., Feki, M. and Boughzala, I. (2016). “Digital Transformation Challenges”, MCIS 2016 Proceedings 33, http://aisel.aisnet.org/mcis2016/33(Accessed Date: 20.07.2021).
  • Horvat, D., Kroll, H. and Jäger, A. (2019). “Researching the Effects of Automation and Digitalization on Manufacturing Companies' Productivity in the Early Stage of Industry 4.0”, Procedia Manufacturing, 39, 886-893.
  • IEA. (2017). “Digitalization & Energy”, https://www.iea.org/reports/digitalisation-and-energy. (Accessed Date: 11.07.2021).
  • Jacobsen, C., Sørensen, A. and Junge, M. (2011). “Digitalization and Productivity”, Centre for Economic and Business Research, Frederiksberg.
  • Jeske, T., Wurfels, M. and Lennings, F. (2021). “Development of Digitalization in Production Industry – Impact on Productivity, Management and Human Work”, Procedia Computer Science, 180, 371-380.
  • Katz, R., Koutroumpis, P. and Callorda, R. M. (2013). “Using a Digitization Index to Measure the Economic and Social Impact of Digital Agendas”, info, 16(1), 32-44.
  • Kravchenko, O, Leshchenko, M., Marushchak, D., Vdovychenko, Y. and Boguslavska, S. (2019). “The Digitalization as a Global Trend and Growth Factor of the Modern Economy”, SHS Web of Conferences 65, 07004, 1-5.
  • Krutova, O., Koistinen, P., Turja, T., Melin, H. and Sarkikoski, T. (2021), “Two Sides, But not of the Same Coin: Digitalization, Productivity and Unemployment”, International Journal of Productivity and Performance Management, 70(2), 427-458.
  • Leon D. and Meyer V. (2019). “Efficiency Evaluation of Digitalization”, KTH Royal Institute of Technology Information and Communication Technology, Degree Project, Fourth Cycle, 15 Credits Stockholm, Sweden. Malmquist, S. (1953). "Index Numbers and Indifference Curves," Trabajos de Estatistica, 4, 209-242.
  • Mammadli, E. and Klivak, V. (2020). “Measuring the Effect of the Digitalization”, The University of Tartu FEBA. Mankiw, N. G. (2003). “Macroeconomics”, Worth Publishers, New York.
  • Mckinsey Global Institute (2018). “Solving The Productivity Puzzle: The Role of Demand and the Promise of Digitization”, McKinsey & Company.
  • Metlyakhi, A. I., Nikitina, N. A., Yarygina, L. V. and Orlova, E. O. (2020), “Analysis of the Impact of Economy Digitalization on Labor Productivity in Russia”, St. Petersburg State Polytechnical University Journal. Economics, 13(2), 7-17.
  • Myovella, G., Karacuka, M. and Haucap, J. (2020). “Digitalization and Economic Growth: A Comparative Analysis of Sub-Saharan Africa and OECD Economies”, Telecommunications Policy, 44, 101856.
  • OECD. (2020). “A Roadmap toward a Common Framework for Measuring the Digital Economy, Report for the G20 Digital Economy Task Force”, Saudi Arabia.
  • Oyeranti, G. A. (2000). “Concept and Measurement of Productivity”, http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.511.9388&rep=rep1&type=pdf. (Accessed Date: 29.07.2021).
  • Pakdemirli, B. (2019). “Dijital Dönüşüm ve Ekonomik Büyüme”, Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 12(32), 666-694.
  • Pilat, D. and Criscuolo, C. (2018). “The Future of Productivity What Contribution can Digital Transformation make?”, Policy Quarterly, 14(3), 10-16.
  • Prokopenko, J. (2005). “Verimlilik Yönetimi Uygulamalı El Kitabı”, (Çev.: O. Baykal, N. Atalay, E. Fidan), MPM Yayınları, No: 476, Ankara.
  • Savic, D. (2019). “From Digitization, through Digitalization, to Digital Transformation”, Online Searcher, 43, 36-39.
  • Solow, R. M. (1956). “A Contribution to the Theory of Economic Growth”, The Quarterly Journal of Economics, 70(1), 65-94.
  • Sturm, J. and Williams, B. (2002). “Deregulation, Entry of Foreign Banks and Bank Efficiency in Australia”, CESifo Working Paper, No: 816.
  • ŞengüL, Ü., Shiraz, S.E. and Eren, M. (2013). “Türkiye’de İstatistiki Bölge Birimleri Sınıflamasına Göre Düzey 2 Bölgelerinin Ekonomik Etkinliklerinin DEA Yöntemi ile Belirlenmesi ve Tobit Model Uygulaması”, Yönetim Bilimleri Dergisi, 11(21), 75-99.
  • Tobin, J. (1958). “Estimation of Relationships for Limited Dependent Variables”, Econometrica, 26(1), 24-36. Tone, K. (2004). “"Malmquist Productivity Index" Handbook on Data Envelopment Analysis”, Springer, US.
  • Trască, D. L., Stefan, G. M., Sahlian, D. N., Hoinaru, H. and Serban-Oprescu, G. L. (2019). “Digitalization and Business Activity. The Struggle to Catch Up in CEE Countries”, Sustainability, 11(2204), 2-17.
  • TÜBİSAD (2020). “Türkiye’nin Dijital Dönüşüm Endeksi”, Ofset Matbaacılık Sanayi ve Ticaret A.Ş. (Accessed Date:04.08.2021).
  • World Bank, https://databank.worldbank.org/source/world-development-indicators. (Accessed Date:11.07.2021).
  • Yılmaz, Y. (2021). “Dijital Ekonomiye Geçiş Süreci, Ölçümü ve Dijitalleşme Verimlilik İlişkisi”, İstanbul İktisat Dergisi, 71, 2021/1, 283-316.
There are 44 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Eda Bozkurt 0000-0001-7158-8049

Özlem Topçuoğlu 0000-0002-9821-5856

Ali Altıner 0000-0001-7362-8198

Publication Date January 12, 2022
Submission Date August 25, 2021
Published in Issue Year 2022 DİJİTAL DÖNÜŞÜM VE VERİMLİLİK

Cite

APA Bozkurt, E., Topçuoğlu, Ö., & Altıner, A. (2022). RELATIONSHIP BETWEEN PRODUCTIVITY AND DIGITALIZATION WITH TOBIT MODEL BASED ON MALMQUIST INDEX. Verimlilik Dergisi67-78. https://doi.org/10.51551/verimlilik.986964

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