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How to evaluate the digital economy scale and potential?

Author

Listed:
  • Roman Chinoracky

    (University of Žilina, Slovakia)

  • Tatiana Corejova

    (University of Žilina, Slovakia)

Abstract

Technological progress is synonymous with current and past changes. In the past these changes led to increased efficiency of production. Driving forces behind today’s technological progress are digital technologies. Emergence of digital businesses significantly contributes to a new type of economy, which acquires the adjective digital. Building on the experience gained from the technological advances of past centuries, digital technologies, which make the digital economy by the mass use of them, are and will be an important factor influencing economic growth. Therefore, the aim of this article is to propose the measure of the scale and potential of digital economy. Measurements are realized in the form of composite indicator designed for the policymakers that deal with the creation of strategies for further growth and the direction of national economies. This composite indicator consists of individual indicators related to tree areas – economy, labour and skills, that can be used to determine the scale and the potential of the digital economy. The scale of the digital economy varies across the examined countries. An interesting finding is the fact that the scale of the digital economy is not conditioned by the geographical or economic scale of the state.

Suggested Citation

  • Roman Chinoracky & Tatiana Corejova, 2021. "How to evaluate the digital economy scale and potential?," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 536-552, June.
    • Handle: RePEc:ssi:jouesi:v:8:y:2021:i:4:p:536-552
    DOI: 10.9770/jesi.2021.8.4(32)
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    Citations

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    Cited by:

    1. Senhua Huang & Lingming Chen, 2023. "The Impact of the Digital Economy on the Urban Total-Factor Energy Efficiency: Evidence from 275 Cities in China," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
    2. Osho Awli & Evan Lau, 2023. "Digital and Sharing Economy for Sustainable Development: A Bibliometric and Systematic Review," Economies, MDPI, vol. 11(4), pages 1-21, March.
    3. Guoteng Xu & Shuai Peng & Chengjiang Li & Xia Chen, 2023. "Synergistic Evolution of China’s Green Economy and Digital Economy Based on LSTM-GM and Grey Absolute Correlation," Sustainability, MDPI, vol. 15(19), pages 1-29, September.
    4. Haifeng Wang & Guangsi Li & Yunzhi Hu, 2023. "The Impact of the Digital Economy on Food System Resilience: Insights from a Study across 190 Chinese Towns," Sustainability, MDPI, vol. 15(24), pages 1-19, December.
    5. Tatiana Corejova & Roman Chinoracky, 2021. "Assessing the Potential for Digital Transformation," Sustainability, MDPI, vol. 13(19), pages 1-15, October.
    6. Senhua Huang & Feng Han & Lingming Chen, 2023. "Can the Digital Economy Promote the Upgrading of Urban Environmental Quality?," IJERPH, MDPI, vol. 20(3), pages 1-21, January.

    More about this item

    Keywords

    digital transformation; digital economy; composite indicators; scale of digital economy;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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