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

Byung Gwun Choy (bgchoy@snu.ac.kr)
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Byung Gwun Choy: Seoul National University (Republic of Korea)

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2020, vol. 14, issue 1, 29-47

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.

Keywords: digital transformation; economic growth; technological progress; effects estimation; random interactions (search for similar items in EconPapers)
JEL-codes: O47 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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