Concluding Remarks: Rethinking Digitalization Strategies for Leapfrogging

Monzur Hossain ()

Chapter Chapter 14 in Digital Transformation and Economic Development in Bangladesh, 2022, pp 285-291 from Springer

Abstract: Abstract This chapter concludes the book by highlighting bottlenecks of current digitalization efforts and stresses rethinking digitalization efforts to make them consistent with development objectives. It identifies seven areas in which more focus needs to be given: automation and innovation in the manufacturing sector; e-commerce and digital finance; households and firms greater access to the internet; effective IT park policies; awareness and dissemination of digital contents; growth and development of IT and ITeS industry; and, IT human capital development. The analysis suggests that digital transformation is at the nascent stage due to the firms’ low level of investment in automation and access to the internet by households. The slow progress in digital transformation and missing links between digitalization and economic development deter the expected output of digitalization. Therefore, the policymakers need to rethink the current digitalization strategies and take proper steps to capitalize on the digitalization policies.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-2753-9_14

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DOI: 10.1007/978-981-19-2753-9_14

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