Modelling the impact of digitalisation on economic growth
Keywords:
economic growth, digitalisation, panel growth model, monetary system, money supply, share of total reserves in gross external debtAbstract
Econometric models are used to study the impact on the country’s economic growth of such factors as the monetary system and the level of digitalisation. Within the first econometric model were built the forecast of growth GDP per capita until 2050 at the exchange rate in constant 2015 US dollars. As indicators reflecting the quality of the monetary system were used gross capital formation, money supply growth rate, and the share of total reserves in gross external debt. The second econometric model considers the number of Internet users and mobile subscribers, information technology exports, and the innovation index in the World Intellectual Property Organisation rating as factors influencing the level of digitalisation. The results of the study show that the country’s welfare is growing due to the acceleration of everyday tasks using the Internet and mobile communications, simplification of work processes, and increased labour productivity.
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