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Quantifying the Digitalisation Impact on the EU Economy. Case Study: Germany and Sweden vs. Romania and Greece

Author

Listed:
  • Romeo Victor Ionescu

    (“Dunãrea de Jos” University of Gala?i, Romania)

  • Monica Laura Zlati

    (“Dunãrea de Jos” University of Gala?i, Romania)

  • Valentin Marian Antohi

    (“Dunãrea de Jos” University of Gala?i, Romania)

  • Florina Oana Virlanuta

    (“Dunãrea de Jos” University of Gala?i, Romania)

  • Silvius Stanciu

    (“Dunãrea de Jos” University of Gala?i, Romania)

Abstract

The digital economy is an alternative to the traditional economy, an area of the future on which investment and R&D efforts are focused both by European forums and by Member States, which have understood the importance of the domain with the onset of the pandemic crisis. The aim of the research is to analyze and predict, on the one hand, the impact of digitalisation on EU Member States’ economies by means of the three scenarios for the evolution of the digital component of the economy for the horizon 2025 (the baseline scenario, the high growth scenario and the challenge scenario), and, on the other hand, the Member States’ ability to achieve the targets proposed by these scenarios. The analysis covers the period 2013-2025 and quantifies the dynamics of the digitalisation phenomena and processes based on dedicated statistical analyses (frequency series analysis, application of the unicriterion critical probability test, application of the Enter method, performing Pearson correlation tests) by means of the IBM-SPSS 25 software. The purpose of this research is the provision of relevant solutions to decision makers in the development of digitalisation. The study highlighted the placing of the results in favourable scenarios, the current trend regarding digital economy evolution, and presented the most likely scenario to be achieved in terms of knowing the provider offer and the needs of service users. The topicality of the study targets a new approach on the foundations of financial allocations for the sustainable development of the digital economy needed in the current conditions of the global crisis and of the pandemic for the implementation of digital economy development policies. A novelty of this research is the conceptualization, validation and testing of an econometric model capable of quantifying the realism of the scenarios proposed by the European Union regarding the development of the digital economy.

Suggested Citation

  • Romeo Victor Ionescu & Monica Laura Zlati & Valentin Marian Antohi & Florina Oana Virlanuta & Silvius Stanciu, 2022. "Quantifying the Digitalisation Impact on the EU Economy. Case Study: Germany and Sweden vs. Romania and Greece," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 24(59), pages 1-61.
    • Handle: RePEc:aes:amfeco:v:24:y:2022:i:59:p:61
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    References listed on IDEAS

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    1. Silvius Stanciu & Florina Oana Virlanuta & Oana Alexandra Vochin & Romeo Victor Ionescu & Valentin Marian Antohi, 2019. "Fast Moving Consumer Goods (FMCG) Market in Romania. Features and Trends," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 21(S13), pages 778-778, November.
    2. Pinar Aytekin & Florina Oana Virlanuta & Huseyin Guven & Silvius Stanciu & Ipek Bolakca, 2021. "Consumers’ Perception of Risk Towards Artificial Intelligence Technologies Used in Trade: A Scale Development Study," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 23(56), pages 1-65, February.
    3. Dinu Vasile, 2008. "The Ethical Dimension Of Business," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 10(23), pages 1-5, February.
    4. Watanabe, Chihiro & Naveed, Kashif & Tou, Yuji & Neittaanmäki, Pekka, 2018. "Measuring GDP in the digital economy: Increasing dependence on uncaptured GDP," Technological Forecasting and Social Change, Elsevier, vol. 137(C), pages 226-240.
    5. Barbara Engels, 2017. "Detours on the Path to a European Big Data Economy," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 52(4), pages 213-216, July.
    6. Ben Youssef, Adel & Boubaker, Sabri & Dedaj, But & Carabregu-Vokshi, Mjellma, 2021. "Digitalization of the economy and entrepreneurship intention," Technological Forecasting and Social Change, Elsevier, vol. 164(C).
    7. Maryam Farboodi & Laura Veldkamp, 2021. "A Model of the Data Economy," NBER Working Papers 28427, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Verdeş Cătălin-Alexandru & Mironescu Alexandra-Andreea & Mazăre Mădălina, 2024. "The Impact of Digitalization on the Economic Performance of SMEs in the European Union: A 2022 Analysis," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 3586-3596.
    2. Camelia Epure & Mihaela Pila & Silvius Stanciu, 2024. "Rural Development and Digitalization: Perspectives and Economic Impact in Romania," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 5-13.

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    More about this item

    Keywords

    digitalisation; digitalisation indicators; digitalisation development scenarios: the baseline scenario; the high growth scenario and the challenge scenario; the econometric model of digitalisation development; digital market fragmentation: Germany; Sweden vs Romania; Greece.;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General

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