The Effects of Digitalization on Economic Growth: A Comparative Panel Data Analysis of EU and BRICS-T Countries

Yıl 2025, Cilt: 6 Sayı: 1, 10 - 24, 27.03.2025

Ahmet Kasap

https://doi.org/10.62425/dssh.1623503

Öz

This study examines the influence of digitalization on economic growth through a comparative comparison of European Union (EU) countries and BRICS-T nations. The study employs panel data analysis, encompassing the years 2001 to 2022 for EU countries and 2003 to 2021 for BRICS-T countries. The findings indicate that in EU nations, variables such as internet utilization, fixed broadband availability, and gross fixed capital formation positively and considerably enhance economic growth. In BRICS-T nations, mobile phone subscriptions, internet utilization, and gross fixed capital formation are pivotal growth catalysts. Nonetheless, foreign direct investments and trade openness exhibit statistically minor effects in both regions. This research underscores the essential function of digital infrastructure in promoting economic development and offers policy recommendations to optimize the advantages of digitalization in both emerging and mature nations.

Anahtar Kelimeler

Digitalization, Economic Growth, European Union, BRICS-T, Panel Data Analysis

Etik Beyan

--------------

Destekleyen Kurum

---------------

Teşekkür

--------------

Dijitalleşmenin Ekonomik Büyüme Üzerindeki Etkileri: AB ve BRICS-T Ülkeleri Arasında Karşılaştırmalı Panel Veri Analizi

Öz

Bu çalışma, Avrupa Birliği (AB) ülkeleri ile BRICS-T ülkeleri arasında karşılaştırmalı bir analiz yaparak dijitalleşmenin ekonomik büyüme üzerindeki etkisini araştırmaktadır. Panel veri analizinin kullanıldığı çalışma, AB ülkeleri için 2001-2022 dönemini, BRICS-T ülkeleri için ise 2003-2021 dönemini kapsamaktadır. Sonuçlar, AB ülkelerinde internet kullanımı, sabit genişbant erişimi ve gayrisafi sabit sermaye oluşumu gibi faktörlerin ekonomik büyümeye pozitif ve anlamlı bir şekilde katkıda bulunduğunu ortaya koymaktadır. BRICS-T ülkelerinde ise cep telefonu abonelikleri, internet kullanımı ve gayrisafi sabit sermaye oluşumu büyümenin temel itici güçleri olarak ortaya çıkmaktadır. Bununla birlikte, doğrudan yabancı yatırımlar ve ticari açıklık her iki bölgede de istatistiksel olarak önemsiz etkiler göstermektedir. Bu araştırma, dijital altyapının ekonomik kalkınmayı desteklemedeki kritik rolünü vurgulamakta ve hem gelişmekte olan hem de gelişmiş ekonomilerde dijitalleşmenin faydalarını en üst düzeye çıkarmak için politika önerileri sunmaktadır.

Anahtar Kelimeler

Dijitalleşme, Ekonomik Büyüme, Avrupa Birliği, BRICS-T, Panel Veri Analizi

Kaynakça

• Acemoglu, D. (2008). Introduction to modern economic growth. Princeton University Press.
• Aghaei, M., & Rezagholizadeh, M. (2017). The impact of information and communication technology (ICT) on economic growth in the OIC Countries. Economic and Environmental Studies, 17(2), 257-278.
• Albiman, M. M., & Sulong, Z. (2016). The role of ICT use to the economic growth in Sub Saharan African region (SSA). Journal of science and technology policy management, 7(3), 306-329.
• Aleksandrova, A., Truntsevsky, Y., & Polutova, M. (2022). Digitalization and its impact on economic growth. Brazilian Journal of Political Economy, 42(2), 424-441.
• Appiah-Otoo, I., & Song, N. (2021). The impact of ICT on economic growth-Comparing rich and poor countries. Telecommunications Policy, 45(2), 102082.
• Arendt, Ł. (2015). The digital economy, ICT and economic growth in the CEE countries. Olsztyn Economic Journal, 10(3), 247-262.
• Bahrini, R., & Qaffas, A. A. (2019). Impact of information and communication technology on economic growth: Evidence from developing countries. Economies, 7(1), 21.
• Bakari, S. (2022). The impact of digitalization and patent on economic growth in Romania. Journal of Research, Innovation and Technologies, 1(1(1)), 49-61.
• Balıkçıoğlu, N. (2023). N11 ülkeleri özelinde ekonomik büyümeyi etkileyen faktörlerin belirlenmesi: yapısal kırılmalı panel veri analizi. Enderun, 7(2), 204-225.
• Barro, R. J., Sala-i-Martin, X., Blanchard, O. J., & Hall, R. E. (1991). Convergence across states and regions. Brookings papers on economic activity, 107-182.
• Bojnec, Š., & Fertő, I. (2012). Broadband availability and economic growth. Industrial Management & Data Systems, 112(9), 1292-1306.
• Botha, A. P. (2018). Rapidly arriving futures: future readiness for Industry 4.0. South African journal of industrial engineering, 29(3), 148-160.
• Chinoda, T., & Kapingura, F. M. (2024). Digital financial inclusion and economic growth in Sub-Saharan Africa: The role of institutions and governance. African Journal of Economic and Management Studies, 15(1), 15-30. https://doi.org/10.1108/AJEMS-09-2022-0372
• Elfaki, K. E., & Ahmed, E. M. (2024). Digital technology adoption and globalization innovation implications on Asian Pacific green sustainable economic growth. Journal of Open Innovation: Technology, Market, and Complexity, 10(1), 100221. https://doi.org/10.1016/j.joitmc.2024.100221
• Farhadi, M., Ismail, R., & Fooladi, M. (2012). Information and communication technology use and economic growth. PloS one, 7(11), 1-7.
• Ghimire, A., Ali, S., Long, X., Chen, L., & Sun, J. (2024). Effect of Digital Silk Road and innovation heterogeneity on digital economy growth across 29 countries: New evidence from PSM-DID. Technological Forecasting & Social Change, 198, 122987. https://doi.org/10.1016/j.techfore.2023.122987
• Gomes, S., Lopes, J. M., & Ferreira, L. (2022). The impact of the digital economy on economic growth: The case of OECD countries. RAM. Revista de Administração Mackenzie, 23(6), 1-31.
• González Bautista, M. G., Velasco Pucha, E. J., Dávalos Mayorga, E. R., & Puente Riofrío, M. I. (2024). Information and Communication Technologies (ICT) and Economic Growth in Latin America: An Empirical Analysis for the 2000-2020 Period. F1000Research, 13(378), 1-15.
• Gordon, R. J. (2015). Secular stagnation: A supply-side view. American economic review, 105(5), 54-59.
• Grigorescu, A., Pelinescu, E., Ion, A. E., & Dutcas, M. F. (2021). Human capital in digital economy: An empirical analysis of central and eastern European countries from the European Union. Sustainability, 13(4), 2020.
• Habibi, F., & Zabardast, M. A. (2020). Digitalization, education and economic growth: A comparative analysis of Middle East and OECD countries. Technology in Society, 63, 101370.
• Hofman, A., Aravena, C., & Aliaga, V. (2016). Information and communication technologies and their impact in the economic growth of Latin America, 1990–2013. Telecommunications Policy, 40(5), 485-501.
• Jorgenson, D. W., Ho, M. S., & Samuels, J. D. (2016). The impact of information technology on postwar US economic growth. Telecommunications Policy, 40(5), 398-411.
• Karadaş, H. A. (2021). Yüksek eğitim seviyesine sahip işgücü ekonomiye katkı yapar mı? Gelişmiş ülkeler üzerine bir analiz. Kesit Akademi Dergisi, 7(28), 433-450.
• Karavias, Y., & Tzavalis, E. (2014). Testing for unit roots in short panels allowing for a structural break. Computational Statistics & Data Analysis, 76, 391-407.
• Katz, R. L., & Koutroumpis, P. (2013). Measuring digitization: A growth and welfare multiplier. Technovation, 33(10-11), 314-319.
• Kumar, R. R., Stauvermann, P. J., & Samitas, A. (2016). The effects of ICT⁎ on output per worker: A study of the Chinese economy. Telecommunications Policy, 40(2-3), 102-115.
• Lee, J. W., & Brahmasrene, T. (2014). ICT, CO2 emissions and economic growth: evidence from a panel of ASEAN. Global Economic Review, 43(2), 93-109.
• Lee, S.-Y. T., Gholami, R., & Tong, T. Y. (2005). Time series analysis in the assessment of ICT impact at the aggregate level–lessons and implications for the new economy. Information & Management, 42(7), 1009-1022.
• Lee, S. H., Levendis, J., & Gutierrez, L. (2012). Telecommunications and economic growth: An empirical analysis of sub-Saharan Africa. Applied economics, 44(4), 461-469.
• Lucas, J., & Robert, E. (1988). On the mechanics of economic development. Journal of monetary economics, 22(1), 3-42.
• Majeed, M. T., & Ayub, T. (2018). Information and communication technology (ICT) and economic growth nexus: A comparative global analysis. Pakistan Journal of Commerce and Social Sciences (PJCSS), 12(2), 443-476.
• Mankiw, N. (2003). Macroeconomics. Worth Publishers, New York.
• Myovella, G., Karacuka, M., & Haucap, J. (2020). Digitalization and economic growth: A comparative analysis of Sub-Saharan Africa and OECD economies. Telecommunications Policy, 44(2), 101856.
• Nabi, A. A., Tunio, F. H., Azhar, M., Syed, M. S., & Ullah, Z. (2023). Impact of information and communication technology, financial development, and trade on economic growth: Empirical analysis on N11 countries. Journal of the Knowledge Economy, 14(3), 3203-3220.
• Novikova, O., Khandii, O., Shamileva, L., & Olshanskyi, O. (2022). The impact of digitalization on ensuring economic growth. Management Theory and Studies for Rural Business and Infrastructure Development, 44(2), 223-234.
• Patra, B., & Sethi, N. (2024). Does digital payment induce economic growth in emerging economies? The mediating role of institutional quality, consumption expenditure, and bank credit. Information Technology for Development, 30(1), 57-75. https://doi.org/10.1080/02681102.2023.2244465
• Škare, M., Gavurova, B., & Porada-Rochon, M. (2024). Digitalization and carbon footprint: Building a path to sustainable economic growth. Technological Forecasting & Social Change, 199, 123045. https://doi.org/10.1016/j.techfore.2023.123045
• Tuna, M. F., & Karadaş, H. A. (2023). The Effect of Macroeconomic Factors on Online Labor Platform Users: The Case of Turkey. Journal of Management and Economics Research, 21(1), 81-101.
• Vu, K. M. (2013). Information and communication technology (ICT) and Singapore’s economic growth. Information Economics and policy, 25(4), 284-300.
• Vyshnevskyi, O., Stashkevych, I., Shubna, O., & Barkova, S. (2020). Economic growth in the conditions of digitalization in the EU countries. Studies of Applied Economics, 38(4), 1-9.
• Watanabe, C., Moriya, K., Tou, Y., & Neittaanmäki, P. (2018). Consequences of the digital economy: transformation of the growth concept. International Journal of Managing Information Technology, 10(2), 21-39.
• World Bank. (2024). World Bank DataBank. Retrieved 15.07.2024 from https://data.worldbank.org
• Yousefi, A. (2011). The impact of information and communication technology on economic growth: Evidence from developed and developing countries. Economics of Innovation and New Technology, 20(6), 581-596.