Digitalisation and its Impact on the Economy and Society: An EU Perspective
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2024-04-29 22:53
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CRISTE, Cristina, CIEL, Man, CRĂCIUN, Andreea Florentina. Digitalisation and its Impact on the Economy and Society: An EU Perspective. In: International Applied Social Sciences Congress: C-IASOS – 2023, Ed. 7, 13-15 noiembrie 2023, Valletta. Ankara: Economics and Financial Research Association, 2023, Ediţia 7, p. 51. ISBN 978-625-94328-0-9.
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International Applied Social Sciences Congress
Ediţia 7, 2023
Congresul "VII. International Applied Social Sciences Congress"
7, Valletta, Malta, 13-15 noiembrie 2023

Digitalisation and its Impact on the Economy and Society: An EU Perspective

JEL: C10, O40

Pag. 51-51

Criste Cristina, Ciel Man, Crăciun Andreea Florentina
 
Universitatea de Vest, Timişoara
 
 
Disponibil în IBN: 29 martie 2024


Rezumat

 Introduction: Digital technology can affect all areas of the national economy, significantly impacting economic growth, innovation and quality of life. The interest in digitisation is increasing due to its ability to improve the efficiency of operations, reduce working time, and improve the quality of the services offered. Aim: This research aims to analyse the impact exerted by digitisation on economic growth (GDP per capita), taking into account the evolution of its intensity and effect through the lens of the digitalisation composite indicator (ITIC) in the context of the implementation of digital tools at the level of the member states of the European Union (EU 27), for the period 2017-2022. Method: Two research methods were applied for the empirical analysis: principal component analysis and regression analysis. Thus, a composite indicator of digitalisation was constructed to allow a pertinent analysis of the contribution and effects of digitisation on economic growth. Findings: The results highlighted a dependence of the level of digitization on the level of development of the countries, and the level of digitization in the pre-pandemic period was deficient, characterised by a low degree of technological development. Countries with a high level of digitalisation also show high economic development, and the pandemic has been observed to accelerate digitalisation, but with variations across countries. Originality and value: The results highlight the need for reconfiguring and aligning countries with digital transformation strategies, focusing on integrating digital technologies and fostering continuous innovation to support long-term economic growth.

Cuvinte-cheie
digitalisation, economic growth, principal component analysis, Regression analysis