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Random Interaction Effect of Digital Transformation on General Price Level and Economic Growth

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  • Byung Gwun Choy

    (Seoul National University (Republic of Korea))

Abstract

The paper attempts to evaluate the impact of digital transformation on productivity using a multi-level structure model of a random effect based on the Bayesian approach to cross section data. Digital transformation significantly raised general price levels in Russia and had consistently significant positive effects upon economic growth through the random interaction effect. Therefore, in Russia in 2018, digital transformation played a role as a driver of technological progress that prompted economic growth rather than economic stability.

Suggested Citation

  • Byung Gwun Choy, 2020. "Random Interaction Effect of Digital Transformation on General Price Level and Economic Growth," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 14(1), pages 29-47.
    • Handle: RePEc:hig:fsight:v:14:y:2020:i:1:p:29-47
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    File URL: https://foresight-journal.hse.ru/data/2020/04/21/1560024590/2-Choy-29-47-final.pdf
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    References listed on IDEAS

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    Cited by:

    1. Wanyi Chen & Liguang Zhang & Pinyan Jiang & Fanli Meng & Qianyi Sun, 2022. "Can digital transformation improve the information environment of the capital market? Evidence from the analysts' prediction behaviour," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(2), pages 2543-2578, June.
    2. Vilena A. Yakimova & Svetlana V. Pankova, 2023. "The Influence of Digital Environment Factors on the Development of Entrepreneurial Ecosystems in Russian Regions," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 22(3), pages 600-629.
    3. Yakimova, V. & Khmura, S., 2023. "Measuring digital economic gaps in the business sector of the regional economy," Journal of the New Economic Association, New Economic Association, vol. 61(4), pages 70-92.

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    More about this item

    Keywords

    digital transformation; economic growth; technological progress; effects estimation; random interactions;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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