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Changes in the industrial structure of GDP and stock indices also with regard to industry 4.0

Author

Listed:
  • Bozena Chovancova
  • Michaela Dorocakova
  • Viera Malacka

Abstract

The second half of the 20th century brought breakthroughs in the field of science and technology, which significantly affected not only the growth of labour productivity and economic growth, but also brought changes in industrial structures and changes in share of individual industries in GDP. Even more strikingly, these changes have been reflected in the stock market, with leading companies from the field of information technology, which affect the flow and processing of information in revolutionary way. The onset of so-called internet economy at the beginning of the 1990s significantly changes also the structure of stock indices. Business services lure investors particularly into the area of financial services, which also show high degree of appreciation of the investment. New phenomenon nowadays is and expected changes in industrial structures not only in GDP, but also in the structure of stock markets will be brought by new phase of industrial revolution Industry 4.0. The aim of this paper is to quantify and analyse the current state and position of individual industries in the structure of GDP and stock indices and to outline new tendencies and to predict changes in these indicators with regards to the realization of 4th phase of industrial revolution.

Suggested Citation

  • Bozena Chovancova & Michaela Dorocakova & Viera Malacka, 2018. "Changes in the industrial structure of GDP and stock indices also with regard to industry 4.0," Business and Economic Horizons (BEH), Prague Development Center, vol. 14(2), pages 402-414, April.
    • Handle: RePEc:pdc:jrnbeh:v:14:y:2018:i:2:p:402-414
    DOI: 10.15208/beh.2018.29
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    References listed on IDEAS

    as
    1. Klaus Desmet & Stephen Parente, 2012. "The evolution of markets and the revolution of industry: a unified theory of growth," Journal of Economic Growth, Springer, vol. 17(3), pages 205-234, September.
    2. Roll, Richard, 1992. "Industrial Structure and the Comparative Behavior of International Stock Market Indices," Journal of Finance, American Finance Association, vol. 47(1), pages 3-41, March.
    3. AltInkIlIç, Oya & Hansen, Robert S., 2009. "On the information role of stock recommendation revisions," Journal of Accounting and Economics, Elsevier, vol. 48(1), pages 17-36, October.
    4. John Laitner, 2000. "Structural Change and Economic Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 67(3), pages 545-561.
    5. Igor A. Yevsikov & Konstantin O. Korovin & Askar I. Sarygulov, 2017. "Modern Trends in Evaluation of Macroeconomic Structural Changes," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: Tessaleno Devezas & João Leitão & Askar Sarygulov (ed.), Industry 4.0, pages 93-116, Springer.
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    Cited by:

    1. Marcin J. Piątkowski, 2020. "Expectations and Challenges in the Labour Market in the Context of Industrial Revolution 4.0. The Agglomeration Method-Based Analysis for Poland and Other EU Member States," Sustainability, MDPI, vol. 12(13), pages 1-29, July.
    2. Petra Maresova & Ivan Soukal & Libuse Svobodova & Martina Hedvicakova & Ehsan Javanmardi & Ali Selamat & Ondrej Krejcar, 2018. "Consequences of Industry 4.0 in Business and Economics," Economies, MDPI, vol. 6(3), pages 1-14, August.
    3. Lee, Jeongwon & Hwang, Junseok & Kim, Hana, 2022. "Different government support effects on emerging and mature ICT sectors," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    4. Ghannouchi, Imen, 2023. "Examining the dynamic nexus between industry 4.0 technologies and sustainable economy: New insights from empirical evidence using GMM estimator across 20 OECD nations," Technology in Society, Elsevier, vol. 75(C).
    5. Violeta Sima & Ileana Georgiana Gheorghe & Jonel Subić & Dumitru Nancu, 2020. "Influences of the Industry 4.0 Revolution on the Human Capital Development and Consumer Behavior: A Systematic Review," Sustainability, MDPI, vol. 12(10), pages 1-28, May.

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    More about this item

    Keywords

    Industrial analysis; indicators of industry; industrial structure of GDP; structure of stock indices;
    All these keywords.

    JEL classification:

    • L70 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - General
    • L88 - Industrial Organization - - Industry Studies: Services - - - Government Policy
    • G19 - Financial Economics - - General Financial Markets - - - Other

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