Economic Growth and Information Technologies: Comparative Approach

S. Tsirel

Voprosy Ekonomiki, 2004, issue 11

Abstract: On the basis of the correlation and factor analysis of the comparative statistics it is shown that the development of modern ICT is one of the major factors of economic growth. Interrelations between ICT and other factors of economic growth are displayed. The crucial dependence of ICT development on the purposeful state policy including not only legislative support of new economy but also the stimulation of innovations is shown. The principal cause of ICT influence on economic growth is that ICT becomes now the new language of business communication and the foundation of the modern business environment. ICT not only have raised productivity but they have also transformed the pattern of the world economy organization, created new standards of management and marketing, accelerated the process of introducing new goods and services, and brought different national economies closer. Lagging behind in ICT devalues Russia's achievements in science and technology, hinders both their popularizing and conversion into new technologies, which sharply reduces the country's competitiveness.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2004:id:1969

DOI: 10.32609/0042-8736-2004-11-92-110

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