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Dependency on un-captured GDP as a source of resilience beyond economic value in countries with advanced ICT infrastructure: Similarities and disparities between Finland and Singapore

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  • Watanabe, Chihiro
  • Naveed, Kashif
  • Neittaanmäki, Pekka

Abstract

The majority of countries with advanced information and communication technology (ICT) infrastructure have been experiencing extended stagnation due to an “embedded” trap in ICT advancement. However, certain countries have been able to sustain a high level of ICT- driven global competitiveness. This suggests that in these contexts there is resilience beyond economic value. Finland and Singapore can be considered countries of resilience with respect to ICT-driven global competitiveness because of their continued GDP growth despite the recession. While both countries share significant similarities including institutional strength in ICT, they demonstrate noteworthy disparities in their development trajectories: Singapore is growth-oriented based on captured GDP while Finland seeks happiness by shifting to un-captured GDP. This contrast can be attributed to their distinct co-evolution with their institutional systems characterized by government/business initiatives in ICT usage for economic efficiency and differences in the new economic index referred to as “happiness seeking”. Given the increasing significance of un-captured GDP derived from the dramatic advancement of the Internet, this paper, will use a comparative analysis of ICT-driven development trajectories in six leading countries in the field over the last two decades. This analysis reveals the different option for maintaining economic resilience. A new method for measuring un-captured GDP was developed to assess the consequences and state of un-captured GDP in six countries. Institutional sources leading to this state were analyzed and a source of resilience beyond economic value was conceptualized and articulated.

Suggested Citation

  • Watanabe, Chihiro & Naveed, Kashif & Neittaanmäki, Pekka, 2015. "Dependency on un-captured GDP as a source of resilience beyond economic value in countries with advanced ICT infrastructure: Similarities and disparities between Finland and Singapore," Technology in Society, Elsevier, vol. 42(C), pages 104-122.
    • Handle: RePEc:eee:teinso:v:42:y:2015:i:c:p:104-122
    DOI: 10.1016/j.techsoc.2015.04.003
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    References listed on IDEAS

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    1. Shahid Yusuf & Kaoru Nabeshima, 2012. "Some Small Countries Do It Better : Rapid Growth and Its Causes in Singapore, Finland, and Ireland," World Bank Publications - Books, The World Bank Group, number 2243, December.
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    1. Watanabe, Chihiro & Naveed, Kashif & Neittaanmäki, Pekka, 2016. "Co-evolution of three mega-trends nurtures un-captured GDP – Uber’s ride-sharing revolution," Technology in Society, Elsevier, vol. 46(C), pages 164-185.
    2. Watanabe, Chihiro & Tou, Yuji & Neittaanmäki, Pekka, 2018. "A new paradox of the digital economy - Structural sources of the limitation of GDP statistics," Technology in Society, Elsevier, vol. 55(C), pages 9-23.
    3. Watanabe, Chihiro & Naveed, Kashif & Neittaanmäki, Pekka & Fox, Brenda, 2017. "Consolidated challenge to social demand for resilient platforms - Lessons from Uber's global expansion," Technology in Society, Elsevier, vol. 48(C), pages 33-53.
    4. Watanabe, Chihiro & Tou, Yuji & Neittaanmäki, Pekka, 2020. "Institutional systems inducing R&D in Amazon- the role of an investor surplus toward stakeholder capitalization," Technology in Society, Elsevier, vol. 63(C).
    5. Tou, Yuji & Watanabe, Chihiro & Neittaanmäki, Pekka, 2020. "Fusion of technology management and financing management - Amazon's transformative endeavor by orchestrating techno-financing systems," Technology in Society, Elsevier, vol. 60(C).
    6. Naveed, Kashif & Watanabe, Chihiro & Neittaanmäki, Pekka, 2018. "The transformative direction of innovation toward an IoT-based society - Increasing dependency on uncaptured GDP in global ICT firms," Technology in Society, Elsevier, vol. 53(C), pages 23-46.
    7. Naveed, Kashif & Watanabe, Chihiro & Neittaanmäki, Pekka, 2017. "Co-evolution between streaming and live music leads a way to the sustainable growth of music industry – Lessons from the US experiences," Technology in Society, Elsevier, vol. 50(C), pages 1-19.
    8. Tou, Yuji & Watanabe, Chihiro & Moriya, Kuniko & Naveed, Nasir & Vurpillat, Victor & Neittaanmäki, Pekka, 2019. "The transformation of R&D into neo open innovation- a new concept in R&D endeavor triggered by amazon," Technology in Society, Elsevier, vol. 58(C).
    9. Tou, Yuji & Watanabe, Chihiro & Moriya, Kuniko & Neittaanmäki, Pekka, 2019. "Harnessing soft innovation resources leads to neo open innovation," Technology in Society, Elsevier, vol. 58(C).
    10. Naveed, Nasir & Watanabe, Chihiro & Neittaanmäki, Pekka, 2020. "Co-evolutionary coupling leads a way to a novel concept of R&D - Lessons from digitalized bioeconomy," Technology in Society, Elsevier, vol. 60(C).
    11. Watanabe, Chihiro & Naveed, Kashif & Neittaanmäki, Pekka, 2017. "Co-evolution between trust in teachers and higher education toward digitally-rich learning environments," Technology in Society, Elsevier, vol. 48(C), pages 70-96.

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