Economic Development in the Digital Economy Era

A special issue of Economies (ISSN 2227-7099).

Deadline for manuscript submissions: 31 December 2024 | Viewed by 26668

Special Issue Editor

Special Issue Information

Dear Colleagues,

Data from the Global Digital Economy Conference show that in the year 2021, the added value of the digital economy in 47 major countries in the worlds reached 38.1 trillion U.S. dollars, a year-on-year increase of 15.6%. In total, this accounted for 45% of the total GDP of these countries. It is more noteworthy that the scale of the digital economy in developed countries has reached 27.6 trillion US dollars, accounting for 72.5% of the total GDP in 47 countries. Meanwhile, the proportion of the digital economy in developed countries to GDP has reached 55.7%, far exceeding the level of 29.8% in reached developing countries.

At the same time, the development gap between different countries in the era of digital economy is increasing day by day. Developed countries have unique advantages in the use of advanced technologies such as robotics, artificial intelligence, industrial Internet, Internet of things, big data, and block chain, further widening the development gap with developing countries. Hence, the phenomenon of the "Digital Divide" is getting worse.

In light of this, we are organizing this Special Issue to explore new issues and challenges to economic growth brought by the development of the global digital economy to different countries. We hope that the academic community can conduct an in-depth analysis routes via which countries can achieve their own economic development more effectively in the digital economy era, improve the welfare of their people, further narrow the gap between the rich and the poor, and achieve balanced development of the national economy. At the same time, this Special Issue will also focus on how economic policies in the traditional sense will be changed in the digital economy era, how different countries use various economic policies to promote the balanced development of the national economy, how developing countries narrow the development gap with developed countries in the era of digital economy, alongside discussions of other related issues.

Submissions for this Special Issue can discuss, but are not limited, to the following topics:

  • Changes in the connotation of economic development in the digital economy era;
  • How to use digital technology to promote economic development;
  • How to narrow or even eliminate the "digital divide";
  • New features of economic policy in the digital economy era;
  • How developing countries can narrow the development gap with developed countries in the era of digital economy.

Dr. Weixin Yang
Guest Editor

Manuscript Submission Information

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Keywords

  • digital economy
  • economic development
  • economic policy
  • economic growth
  • welfare
  • digital technology

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Published Papers (8 papers)

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Research

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13 pages, 262 KiB  
Article
The Impact of AI on International Trade: Opportunities and Challenges
by Ozcan Ozturk
Economies 2024, 12(11), 298; https://doi.org/10.3390/economies12110298 - 30 Oct 2024
Viewed by 3828
Abstract
This study aims to explore the transformative potential of Artificial Intelligence (AI) in international trade, focusing on its key roles in optimizing trade operations, enhancing trade finance, and expanding market access. In trade optimization, AI leverages advanced machine learning and predictive analytics to [...] Read more.
This study aims to explore the transformative potential of Artificial Intelligence (AI) in international trade, focusing on its key roles in optimizing trade operations, enhancing trade finance, and expanding market access. In trade optimization, AI leverages advanced machine learning and predictive analytics to enhance demand forecasting, route optimization, and customs procedures, leading to more efficient logistics and inventory management. In trade finance, AI can automate document processing and risk assessment, increasing access to finance and enhancing transactional transparency, particularly through integration with blockchain technology. In terms of market access, AI-driven analytics can identify consumer trends and competitive dynamics, enabling personalized marketing and overcoming linguistic and cultural barriers. Due to the lack of quantitative data, this study employed qualitative research methods, specifically a multiple-case-study approach. The case studies of leading companies such as Alibaba, DHL, and Maersk showcase how they leverage AI to optimize their trade operations, improve customer service, and achieve greater efficiency. These real-world examples demonstrate AI’s practical applications and significant benefits in the global trade landscape. However, the adoption of AI in international trade is not without challenges. These include issues around data quality, ethical concerns, technological complexity, and public perception. Policy recommendations highlight the need for a robust data infrastructure, establishing ethical AI guidelines, and fostering international cooperation to align data protection regulations. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
20 pages, 2928 KiB  
Article
The Use of the Data Envelopment Analysis–Malmquist Approach to Measure the Performance of Digital Transformation in EU Countries
by Jarmila Horváthová and Martina Mokrišová
Economies 2024, 12(11), 291; https://doi.org/10.3390/economies12110291 - 28 Oct 2024
Viewed by 953
Abstract
Currently, the process of the digital transformation of EU countries is very important and often discussed. It will not only bring new opportunities for companies and the broader population but will also enable the transition to a more ecological economy. An important goal [...] Read more.
Currently, the process of the digital transformation of EU countries is very important and often discussed. It will not only bring new opportunities for companies and the broader population but will also enable the transition to a more ecological economy. An important goal is to speed up the digitalization processes taking place in companies. It is very important to use already established digitalization elements more efficiently. This also resulted in the motivation for the given research. The aim of this paper is to quantify the change in the efficiency of the digital transformation of EU countries. As part of this research, the Variable Returns to Scale Data Envelopment Analysis (VRS DEA) model and the Malmquist index (MI) based on the DEA approach were applied. The results of the model made it possible to assess how the changes in technical efficiency and technological changes contributed to the changes in efficiency. The long-term theoretical added value of this paper lies in its proposal for countries and their governments to monitor not only the number of introduced digital elements, but also the efficiency of their use relative to some aggregate output; for example, GDP (Gross Domestic Product) or unemployment rate. The added value of this research is that less developed countries use digitalization elements more effectively than developed countries. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
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19 pages, 1303 KiB  
Article
Learn from Whom? An Empirical Study of Enterprise Digital Mimetic Isomorphism under the Institutional Environment
by Ying Chen, Haiyan Ma and Tianyi Zhou
Economies 2024, 12(9), 243; https://doi.org/10.3390/economies12090243 - 11 Sep 2024
Cited by 1 | Viewed by 875
Abstract
The digital economy is a prevailing trend in global development, yet traditional firms still face challenges in digital transformation. Under institutional pressure, firms might imitate the digital strategy of their peers to mitigate these issues; there is still a lack of empirical research [...] Read more.
The digital economy is a prevailing trend in global development, yet traditional firms still face challenges in digital transformation. Under institutional pressure, firms might imitate the digital strategy of their peers to mitigate these issues; there is still a lack of empirical research to support this. Therefore, this study, drawing on new institutional theory, focuses on investigating whether and how the institutional environment influences companies in embracing digital transformation in the digital economy era. We employ generalized least squares (GLS) regression models on a sample of 2862 non-IT listed firms in China from 2012 to 2020. In addition, we conduct a series of robustness checks. The results show that firms’ mimetic isomorphism of digital transformation is related to the institutional environment. Specifically, both industrial digitalization and regional digitalization promote digital mimetic isomorphism independently; their interaction is positively related to the digital mimetic isomorphism of successful firms but negatively related to similar firms. The results provide empirical evidence for non-IT firms to converge upwards in digital transformation and achieve high-quality development. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
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16 pages, 342 KiB  
Article
Peruvian Agro-Exports’ Competitiveness: An Assessment of the Export Development of Its Main Products
by Jose Carlos Montes Ninaquispe, Alberto Luis Pantaleón Santa María, Diego Alejandro Ludeña Jugo, William Teófilo Castro Muñoz, Juan Cesar Farias Rodriguez, Billy Heinrich Maco Elera and Kelly Cristina Vasquez Huatay
Economies 2024, 12(6), 156; https://doi.org/10.3390/economies12060156 - 20 Jun 2024
Cited by 1 | Viewed by 4045
Abstract
This study analyzed the competitiveness of Peru’s exports of grapes, blueberries, avocados, and asparagus from 2019 to 2023. Data were obtained from the customs declarations of all exporting companies of the analyzed products, along with data from the International Trade Center. Competitiveness was [...] Read more.
This study analyzed the competitiveness of Peru’s exports of grapes, blueberries, avocados, and asparagus from 2019 to 2023. Data were obtained from the customs declarations of all exporting companies of the analyzed products, along with data from the International Trade Center. Competitiveness was measured using the absolute revealed comparative advantage (RCA) index. The results indicate notable growth in the exports of grapes and blueberries, while asparagus and avocados face challenges in market and exporter diversification. The RCA index suggests a strong and stable specialization in these products. This study concludes with specific recommendations for institutions such as Ministerio de Desarrollo Agrario y Riego (MIDAGRI), Comisión de Promoción del Perú para la Exportación y el Turismo (PROMPERÚ), Asociación de Exportadores (ADEX), and Instituto Nacional de Innovación Agraria (INIA), aimed at enhancing competitiveness through market diversification. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
20 pages, 526 KiB  
Article
Digital Economy Development, Common Prosperity, and Carbon Emissions: An Empirical Study in China
by Jingke Gao, Wenxiao Zhou, Jinhua Cheng and Ziyuan Liu
Economies 2024, 12(5), 120; https://doi.org/10.3390/economies12050120 - 15 May 2024
Cited by 1 | Viewed by 1811
Abstract
Under the new development model, the digital economy has become a new engine to promote the green development of the economy and realize the goal of “double carbon”. Based on the panel data of 30 provinces in China from 2010 to 2020, this [...] Read more.
Under the new development model, the digital economy has become a new engine to promote the green development of the economy and realize the goal of “double carbon”. Based on the panel data of 30 provinces in China from 2010 to 2020, this paper empirically investigates the impact of the development of the digital economy on energy and carbon emissions using a series of econometric models such as baseline regression, a mechanism test, and the spatial Durbin model, etc. Common prosperity plays an intermediary role between digital economy development and carbon emissions; digital economic development optimizes resource allocation, effectively solves the problem of uneven resource distribution, and reduces energy and carbon emissions while achieving common prosperity. In addition, green innovation, industrial structure, urbanization level, R&D intensity, and the degree of marketization also have different degrees of influence on energy and carbon emissions. Therefore, the government should accelerate the construction of new digital infrastructure and implement the digital economy development strategy according to local conditions, so as to promote the digital economy to produce a more significant carbon emission reduction effect. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
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32 pages, 673 KiB  
Article
Does Urban Digital Construction Promote Economic Growth? Evidence from China
by Weixin Yang, Chen Zhu and Yunpeng Yang
Economies 2024, 12(3), 59; https://doi.org/10.3390/economies12030059 - 29 Feb 2024
Cited by 3 | Viewed by 2195
Abstract
In order to explore the causal relationship between the level of urban digital construction and urban economic growth, this paper takes 280 cities in China as the research object and constructs a comprehensive indicator evaluation system covering digital infrastructure, overall economic level, innovation [...] Read more.
In order to explore the causal relationship between the level of urban digital construction and urban economic growth, this paper takes 280 cities in China as the research object and constructs a comprehensive indicator evaluation system covering digital infrastructure, overall economic level, innovation development level, digital industry development status, and ecological environment conditions. Using the entropy method to weigh various indicators, this paper has obtained the evaluation results of the digital construction level of each city from 2011 to 2021. Furthermore, a panel data regression model is used to empirically analyze the impact of urban digital construction level on urban economic growth. The results show that for every 1% increase in the level of urban digital construction, the GDP will increase by 0.974. Through the above research, we hope to further enrich the theoretical and empirical research in the field of the digital economy, provide a scientific and reasonable method for quantitatively evaluating the level of urban digital construction, and provide decision-making references for improving the level of urban digital construction and promoting sustainable urban development. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
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16 pages, 359 KiB  
Article
Impact of Digitalization of Sales on the Profitability of the Restaurant Industry during COVID-19
by Mónica González Morales and José Antonio Cavero Rubio
Economies 2023, 11(11), 283; https://doi.org/10.3390/economies11110283 - 16 Nov 2023
Cited by 2 | Viewed by 8403
Abstract
The COVID-19 pandemic had a severe impact on the restaurant industry. Temporary shutdowns and seating capacity restrictions led to a sharp drop in sales. In this scenario, digitalization emerged as a crucial strategy for business survival, offering opportunities to increase restaurants’ competitiveness and [...] Read more.
The COVID-19 pandemic had a severe impact on the restaurant industry. Temporary shutdowns and seating capacity restrictions led to a sharp drop in sales. In this scenario, digitalization emerged as a crucial strategy for business survival, offering opportunities to increase restaurants’ competitiveness and revenues. This study examines the financial profitability of restaurants during 2020, comparing establishments with digital sales tools to those without. Multiple linear regression results indicate that liquidity, sales growth, restaurant size, and having a website directly influenced profitability. In addition, restaurants with their own online ordering and home delivery services or associated with delivery platforms experienced lower profitability losses. These findings contribute to our understanding of the role of digitalization in the restaurant sector during the pandemic, providing valuable practical and theoretical implications for the industry in similar contexts. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)

Other

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14 pages, 2186 KiB  
Perspective
Dynamics of Bilateral Digital Trade: The Case of a Korea–EU Digital Partnership
by Irina Korgun and Altin Hoti
Economies 2023, 11(10), 248; https://doi.org/10.3390/economies11100248 - 8 Oct 2023
Cited by 1 | Viewed by 2598
Abstract
The rapid growth of digital trade has had a profound impact on global economies, revolutionizing trading practices and facilitating trade expansion. The purpose of this paper is to explore the digital partnership between Korea and the European Union (EU) and its implications for [...] Read more.
The rapid growth of digital trade has had a profound impact on global economies, revolutionizing trading practices and facilitating trade expansion. The purpose of this paper is to explore the digital partnership between Korea and the European Union (EU) and its implications for their shared agenda in digital trade to theorize the dynamics of digital trade. A case study method is used to explore trade between Korea and the EU with in-depth descriptive analysis. Digital trade-flow statistics were analyzed to develop the case for Korea and EU digital trade and derive implications for both countries. The findings were generalized by discussing the relevant literature and data from other countries to identify the wider implications. The analysis was focused on the areas of information and communication technology and e-commerce. The findings suggest uncovered trade imbalances, such as Korea’s surplus of ICT goods exports and the EU’s dominant position in online trade. There is an influence of supply chain dynamics, specifically the presence of Korean manufacturers’ production units in countries like Vietnam, and the same dynamics have shaped Korea’s actual place in the supply of ICT goods to the European market. While the digital partnership was established to align regulatory frameworks and foster trust, transparency, and harmonization in the digital domain, it has failed to adequately reflect the importance of digital trade. Although both sides are motivated to collaborate on the harmonization of digital trade rules, there have been instances where the partners’ interests diverge. It is concluded that some political and economic factors may hinder the effectiveness of the digital partnership, unless concrete measures that go beyond traditional bilateral policymaking approaches are implemented. It is therefore recommended to emphasize the need to enhance the efficacy of the digital partnership by taking bolder actions to develop digital trade. Full article
(This article belongs to the Special Issue Economic Development in the Digital Economy Era)
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