The Impact of Digitalization on Economic Growth across Countries (the Cases of China and the USA)

Veronika Grigor'evna Iordanova and Svetlana Alekseevna Chserenkova
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Veronika Grigor'evna Iordanova: The Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia
Svetlana Alekseevna Chserenkova: The Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia

Russian Foreign Economic Journal, 2022, issue 8, 36-53

Abstract: The authors of the study assessed the level of digitalization in the People’s Republic of China and the United States of America and analyzed the impact of digitalization on economic growth in these countries. The study revealed that China and USA, which are the largest economies in the world, have a large and developed digital sector. Moreover, these countries are introducing digital technologies into other economic sectors. Consequently, there is direct correlation between economic growth of the country and the level of its digitalization. Digitalization is a key driver of economic growth in the modern world. Unfortunately, it may result in the widening gap between digitalized countries and those where digitalization is implemented quite unsuccessfully. Therefore, the “lagging behind” countries should apply some special measures to increase the level of digitalization.

Keywords: economy; digitalization of the economy; digitalization; innovations; China; USA; digital technologies; GDP; global digitalization indices (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2022_08_36-53

DOI: 10.24412/2072-8042-2022-8-36-53

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