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The Digital Revolution - An Essential Element In Reducing Regional Economic Disparities

Author

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  • MUNGIU-PUPAZAN MARIANA CLAUDIA

    (CONSTANTIN BRANCUSI UNIVERSITY OF TG-JIU)

Abstract

The digitization of the economy and the involvement of human capital in this process contribute to achieving the objective of reducing economic disparities between different regions. Technological progress and digitization lead to sustainable economic development. Countries with higher levels of digitization outperform others in terms of innovation, economic growth and quality of life. Sustainable Development represents, in the Romanian context, the desire to achieve a balance, a synthesis between the aspirations of the free-born citizen, the society on which it depends and through which it is defined, and the context that allows self-realization. This balance starts from man, the central actor who seeks an individual balance and favorable conditions to achieve it. The favorable conditions are influenced by the society that must support and motivate him and by the environment through which he finds himself and can find his balance. The role of the state in the context of sustainable development is to help achieve this balance, not only for citizens now, but also for future generations. In this context, digitization and fiscal efficiency become essential elements of fiscal sustainability. The technology is a critical element for financial-banking institutions, which would make it easier for them to restructure their traditional operating models, for a much-needed increase in agility and efficiency.

Suggested Citation

  • Mungiu-Pupazan Mariana Claudia, 2023. "The Digital Revolution - An Essential Element In Reducing Regional Economic Disparities," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 136-139, December.
    • Handle: RePEc:cbu:jrnlec:y:2023:v:6ii:p:136-139
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    References listed on IDEAS

    as
    1. Søren Ravn & Morten Spange, 2014. "The Effects of Fiscal Policy in a Small Open Economy with a Fixed Exchange Rate," Open Economies Review, Springer, vol. 25(3), pages 451-476, July.
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