Exploring ICT as an Engine for Sustainable Economic Growth in Central Asia

Sobirov Yuldoshboy, Artikov Beruniy, Saburov Javokhir, Khodjaniyozov Elbek, Mamurbek Karimov, Olimjon Saidmamatov () and Peter Marty ()
Additional contact information
Sobirov Yuldoshboy: Department of Accounting, Mamun University, Urgench 220100, Uzbekistan
Artikov Beruniy: Department of Accounting, Mamun University, Urgench 220100, Uzbekistan
Saburov Javokhir: Department of Accounting, Mamun University, Urgench 220100, Uzbekistan
Khodjaniyozov Elbek: Department of Business and Management, Urgench State University Named After Abu Rayhan Beruni, Urgench 220100, Uzbekistan
Mamurbek Karimov: Department of Economics and Management, Tashkent State University of Economics, Tashkent 100066, Uzbekistan
Olimjon Saidmamatov: Department of Accounting, Mamun University, Urgench 220100, Uzbekistan
Peter Marty: Institute of Natural Resource Sciences, Zurich University of Applied Sciences (ZHAW), 8820 Wädenswil, Switzerland

Economies, 2025, vol. 13, issue 12, 1-27

Abstract: This study investigates whether information and communication technology (ICT) constitutes a sustained driver of economic growth in four Central Asian economies—Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan—over the period 2000–2024. Using an extended endogenous growth framework, this study employs the following long-run growth model: economic growth is specified as a function of ICT development, gross capital formation, trade openness, human capital, government effectiveness, and inflation. A composite ICT index is constructed using Principal Component Analysis (PCA). Long-run relationships are examined using a panel cointegration approach, and long-run elasticities are estimated using FMOLS, DOLS, and CCR techniques. The results reveal that ICT development exerts a negative and statistically significant effect on economic growth in the long run, indicating limited technological absorptive capacity and insufficient institutional readiness in the region. In contrast, capital formation, trade openness, human capital, and government effectiveness positively and significantly promote growth, while inflation hampers economic performance. The findings suggest that ICT investment alone is insufficient for sustainable growth without complementary institutional strengthening, human capital development, digital skills enhancement, improved broadband quality, and governance reforms to increase the productive use of ICT.

Keywords: information and communication technology (ICT); economic growth; Central Asia; FMOLS; DOLS; CCR; cointegration analysis (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2227-7099/13/12/365/pdf (application/pdf)
https://www.mdpi.com/2227-7099/13/12/365/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jecomi:v:13:y:2025:i:12:p:365-:d:1815890

Access Statistics for this article

Economies is currently edited by Ms. Hongyan Zhang

More articles in Economies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().