scholarly journals The Macroeconomic Impacts of E-Business on the Economy

2010 ◽  
pp. 1-11 ◽  
Author(s):  
Daniel Heil ◽  
James E. Prieger
Keyword(s):  
Economic Growth ◽  
Information And Communications Technology ◽  
Communications Technology ◽  
Profound Impact ◽  
Macroeconomic Conditions ◽  
Long Run ◽  
Macroeconomic Impacts ◽  
Business Changes ◽  
The Cost ◽  
Effectiveness Of Monetary Policy

The growing use of information and communications technology (ICT) by business—e-business— has a profound impact on the economy. E-business lowers costs and increases the choices available to consumers and firms. These microeconomic changes work their way through the economy and ultimately influence macroeconomic conditions. Overall, e-business benefits the economy in many ways. Nevertheless, not all the effects of e-business on macroeconomic conditions are positive, and some aspects of e-commerce may limit the effectiveness of monetary policy. E-business changes the macroeconomy in several beneficial ways. Some gains are static in nature, arising from the more efficient use of existing resources. For example, increases in productivity increase a nation’s GDP. In addition, by lowering search and transaction costs, e-business unleashes deflationary pressures (Willis, 2004). Other gains are dynamic, altering the path national growth takes. By lowering the cost of transferring and employing knowledge, ICT enables greater R&D and innovation, which is crucial to long-run economic growth.

scholarly journals The Microeconomic Impacts of E-Business on the Economy

2010 ◽  
pp. 12-22 ◽  
Author(s):  
James E. Prieger ◽  
Daniel Heil
Keyword(s):  
Economic Benefits ◽  
Information And Communications Technology ◽  
Economic Welfare ◽  
Communications Technology ◽  
The World ◽  
Processing Information ◽  
Business Changes ◽  
Definition Of ◽  
The Cost ◽  
The Way

The use of information and communications technology (ICT) in business—the most expansive definition of e-business—is transforming the world economy. E-business at the microeconomic level of retail, wholesale, and labor market transactions has an enormous impact on the performance of companies and the economic welfare of consumers and workers. The gains in efficiency and economic benefits at the microeconomic level exert influence all the way up to the macroeconomic level of GDP and fiscal and monetary phenomena. However, new policy challenges accompany the rewards from ebusiness in the economy. The economics of e-business are shaped by the way that ICT lowers the cost of transferring, storing, and processing information (Borenstein & Saloner, 2001). When the cost of information falls, there are profound consequences for how firms conduct business with each other, with consumers, and with workers. This article covers both the economic theory that suggests how e-business changes the economy (to understand why e-business has proliferated) and the empirical magnitude of the impacts (to show the economic benefits).

Taiwan's Economy: An Economic Recession in the Making

2016 ◽  
Vol 08 (01) ◽  
pp. 128-143
Author(s):  
Chien-Hsun CHEN
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Competitive Advantage ◽  
Industrial Structure ◽  
Economic Recession ◽  
Information And Communications Technology ◽  
Communications Technology ◽  
Technology Sector

Taiwan experienced a sharp deceleration in economic growth in the second quarter of 2015. If Taiwan's exports continue to deteriorate, Taiwan would have to struggle to maintain a one per cent growth rate. Taiwan's economic conundrums mainly lie with its deteriorating industrial structure. Without deepening industrial structural upgrades and reforms in the information and communications technology sector in particular, Taiwan will lose its international competitive advantage.

scholarly journals Workers’ Remittances in Yemen: Macroeconomic Determinants and Impact on Economic Growth

2021 ◽  
Author(s):  
Essa A. Alhannom ◽  
Ghaleb S. Mushabeb
Keyword(s):  
Economic Growth ◽  
Planning Process ◽  
Host Countries ◽  
Macroeconomic Conditions ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Inflation Rates ◽  
Macroeconomic Determinants ◽  
The Impact

This study aims to examine the determinants of workers’ remittances and their impact on economic growth in Yemen. Autoregressive Distributed Lag (ARDL) bounds test to co-integration and error correction model (ECM) were applied on data covering the period from 1990 to 2014. According to the model of remittances determinants, workers’ remittances in Yemen respond to the macroeconomic conditions of both the home and host countries. It is found that, in the long-run, migrant stock and income level at the host countries are positively and strongly influence remittances level, with a feeble impact of domestic inflation rates. The effect of the home country’s income seems to be positive but insignificant in explaining the behavior of remittances level. The model of economic growth suggests that, in the long-run,  the impact of workers’ remittances appears to be positive and moderate with positive and stronger influences observed for financial development and official development assistance. Accordingly, it is recommended that a lesser weight should be given to remittances in the strategic planning process, taking into consideration the increasing potentials of the conditions in the neighboring host countries to be changed. In addition, using remittances as a means of economic growth can be enhanced by encouraging migrants to direct their savings towards productive investment activities, and via formal channels.

scholarly journals THE CO-INTEGRATING RELATIONSHIP BETWEEN FINANCIAL INCLUSION AND ECONOMIC GROWTH IN THE SOUTHERN AFRICAN DEVELOPMENT COMMUNITY

2021 ◽  
Vol 9 (3) ◽  
pp. 170-188
Author(s):  
Oscar Chiwira ◽  
Keyword(s):  
Economic Growth ◽  
Negative Impact ◽  
Negative Relationship ◽  
Financial Inclusion ◽  
Information And Communications Technology ◽  
Broadband Internet ◽  
Distributed Lag ◽  
Long Run ◽  
Financial Monitoring ◽  
The Impact

This study examines the relationship between financial inclusion and economic growth in SADC. It uses panel data covering the period between 1995 to 2015 and employs the Autoregressive Distributed Lag (ARDL) Bounds and the Toda and Yamamoto and Dolado and Lutkepohl (TYDL) models to examine the co-integrating relationship and the direction of causality respectively. The impact of financial inclusion on economic growth, when measured by the mobile penetration rate and the number of bank branches, diminishes in the long run to an extent of having a negative relationship with economic growth. This implies possible thresholds beyond which a negative impact on economic growth is realized. The long-run influence of financial inclusion on economic growth is hinged on financial technologies, measured by fixed broadband internet services, which have great potential to foster unique financial inclusion and shift the economic paradigm, leading to a digitalized economy. Only financial inclusion initiatives that result in increased bank deposit accounts promote economic growth. SADC is encouraged to liberalize its information and communications technology sector in order to fully benefit from financial inclusion initiatives. In addition, SADC should consider embracing international financial monitoring standards so that it does not fall behind the inevitable integration of the financial sectors.

scholarly journals Fixed Investment and Economic Growth: ARDL and Causality Exploration for SADC Countries

2021 ◽  
Vol 11 (4) ◽  
pp. 18
Author(s):  
Reginald Masimba Mbona ◽  
Chilombo Stephania Mumba ◽  
Tinashe Mangudhla
Keyword(s):  
Economic Growth ◽  
Purchasing Power Parity ◽  
Power Parity ◽  
Fixed Investment ◽  
Economic Activities ◽  
Long Run ◽  
Short Run ◽  
Using Data ◽  
The Cost ◽  
Marginal Returns

In assessing the short run and the long-run effects of fixed investment and economic growth among Southern Africa countries, we evaluated the economic progress of the SADC (Southern African Development Committee) region. Our objective is to determine how variables (GDP, purchasing power parity, inflation, electricity, balance-of-payments, and unemployment) can be affected by the fixed investment. In determining how fixed investment affects economic activities and policies among the states, the ADRL estimation approach is applied. Using data from 13 countries in the SADC region from the period 1992-2018, we enumerate the variables’ marginal returns against the fixed investment component. The results of diagnostic and other tests show that all statistical procedures are robust. The result proves that the benefits of fixed investment are yielded over a long period rather than short periods. As a result, the cost in the short term cannot be compared to the benefits that will be enjoyed later by an economy as it becomes productive. Furthermore, the lack of consistent fixed investment among countries will eventually lead to insufficient cash flow, which will negatively affect the currency. These results would seem to suggest that the introduction of policies that promote investment will massively contribute to increased productivity and positive economic growth in the region.

Assessing Harm from Cyber Crime

2021 ◽  
pp. 126-141
Author(s):  
Eva Ignatuschtschenko
Keyword(s):  
Cyber Security ◽  
Mitigation Strategies ◽  
Information And Communications Technology ◽  
Communications Technology ◽  
Cyber Crime ◽  
Monetary Value ◽  
Significant Harm ◽  
Crime Detection ◽  
The Cost ◽  
The Impact

This chapter discusses a harm concept that enables a more comprehensive assessment of the consequences of cyber crime. Even though harm resulting from cyber crime is not fundamentally different from harm that is caused by other forms of crime or crime in general, the reach, scope, and volume of crime facilitated by information and communications technology have transformed risks posed to individuals, organizations, and nations, and challenge conventional approaches of crime detection and prevention. Assessments of the impact of cyber crime have been focusing on estimating the cost in monetary value. However, most significant harm might not be experienced as a loss of money, but as a disruption or destabilization of systems that are built on trust. This article advocates for a human-centric approach to cyber security, which emphasizes harm mitigation strategies.

Introducing Electronic Governance in the Philippines

2008 ◽  
pp. 370-373
Author(s):  
Vicente D. Mariano
Keyword(s):  
Economic Growth ◽  
Social Justice ◽  
Job Creation ◽  
The Philippines ◽  
Information And Communications Technology ◽  
Government Agencies ◽  
Communications Technology ◽  
Good Government ◽  
Energy Independence

The Philippines has recently identified five key reform packages where information and communications technology (ICT) will play a key role: job creation through economic growth, anti-corruption through good government, social justice and basic needs, education and youth opportunity, and energy independence and savings (Patricio, 2004). Such an important role of ICT can be seen in terms of the signing of the Electronic Commerce Act of 2000, or the E-Commerce Act in June 2000. The law mandates all government agencies to adopt electronic means in their transactions within a period of two years (2000) of its signing.

Prospects for Information and Communications Technology-Enabled Services in Kenya

2018 ◽  
pp. 213-231
Author(s):  
Dianah Ngui ◽  
Peter Kimuyu
Keyword(s):  
Economic Growth ◽  
National Income ◽  
Financial Inclusion ◽  
Information And Communications Technology ◽  
Communications Technology ◽  
Efficiency Gains ◽  
African Region ◽  
Mobile Money ◽  
International Telecommunications ◽  
Export Revenue

Kenya is the largest economy in East Africa. It is also the most diversified when the ratio of agriculture to other sectors is compared. Services form a small but fast-growing sector; however, national income and export revenue are dominated by agriculture. Kenya has experienced tremendous growth in ICT which drives economic growth. This growth can be ascribed to the embrace of technology for the distribution of information and service delivery improvement. Kenya shows it has the potential to become a global leader in ICT services. In addition to contributing to GDP, ICT enables innovation, production, and efficiency gains across several sectors key to Kenya’s economic growth. ICT services-led innovations such as M-PESA, the pioneering mobile money platform, have led to financial inclusion. Kenya’s overall ranking within the African region as measured by the International Telecommunications Union ICT Development Index is higher than Uganda, Tanzania, Rwanda, and Ethiopia.

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