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The digital commercial revolution: U.S. business sales and the entrepreneurial exploitation of information and communications technology

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  • John T. Scott

    (Dartmouth College)

Abstract

Businesses have taken the opportunities, made possible by information and communications technology (ICT), to develop and use digital platform services and other digital tools to support sales. This paper estimates a model of U.S. business sales and uses the estimated model to assess the economic impact of the digital commercial revolution of the first two decades of the twenty-first century. The estimations show that the entrepreneurial initiatives—that drove the digital revolution in commerce by capitalizing on the new technologies made available by the ICT revolution—came to fruition in the wake of the Great Recession. For 2019, the last year before the COVID-19 pandemic, the digital commercial revolution’s contribution to value added in the U.S. manufacturing, wholesale trade, and retail trade sectors alone has an estimated expected value that is 4.0–5.9% of GDP.

Suggested Citation

  • John T. Scott, 2024. "The digital commercial revolution: U.S. business sales and the entrepreneurial exploitation of information and communications technology," The Journal of Technology Transfer, Springer, vol. 49(2), pages 401-436, April.
    • Handle: RePEc:kap:jtecht:v:49:y:2024:i:2:d:10.1007_s10961-023-10049-3
    DOI: 10.1007/s10961-023-10049-3
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    References listed on IDEAS

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    1. Jianhong Zhang & Désirée Gorp & Henk Kievit, 2023. "Digital technology and national entrepreneurship: An ecosystem perspective," The Journal of Technology Transfer, Springer, vol. 48(3), pages 1077-1105, June.
    2. David P. Leech & John T. Scott, 2022. "Foreign patents for the technology transfer from laboratories of U.S. federal agencies," The Journal of Technology Transfer, Springer, vol. 47(4), pages 937-978, August.
    3. Anlan Chen & Yong Lin & Marcello Mariani & Yongyi Shou & Yufeng Zhang, 2023. "Entrepreneurial growth in digital business ecosystems: an integrated framework blending the knowledge-based view of the firm and business ecosystems," The Journal of Technology Transfer, Springer, vol. 48(5), pages 1628-1653, October.
    4. Cette, Gilbert & Fernald, John & Mojon, Benoît, 2016. "The pre-Great Recession slowdown in productivity," European Economic Review, Elsevier, vol. 88(C), pages 3-20.
    5. Kelsi G. Hobbs & Albert N. Link & John T. Scott, 2017. "The growth of US science and technology parks: does proximity to a university matter?," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 59(2), pages 495-511, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Digital advertising; Digital platform services; Growth; Information and communications technology (ICT); Innovation; Research and development (R&D);
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising

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