The Impact of Information and Communication Technologies on Economic Competitiveness

Devashish Sharma

MPRA Paper from University Library of Munich, Germany

Abstract: It is important to note that enterprises will be more productive when they utilize information communication technologies to the fullest extent possible. This will result in an increase in their competitiveness, which will enable them to achieve sustainable economic growth, which, in the long run, is a prerequisite for reducing poverty. As a result of the development of information communication technologies, the opportunities for developing economies to participate in international markets are constantly expanding as a result of the development of this technology. With the advent of the Internet, we are witnessing a dramatic change in how goods and services are produced, delivered, sold, and purchased. As a result, the number of people and businesses that are connected to the internet on a daily basis is increasing, thus making them ready to take part in and contribute to the knowledge economy in an ever-increasing way. As a result of the use of the Internet, weak participants in the global economy will be empowered - such as small business owners in developing countries - enabling them to access information, communication, and knowledge that they had not been able to access in the past. It has become possible to trade goods and services more quickly due to the use of new technologies. Over the past few years, it has been shown that the trade in information and communication technology goods and services has been growing at a faster rate than the trade in total goods and services in the past few years. The information and communication technologies have also enabled trade in other sectors as they have improved market access and brought a broader range of customers into the market, as well as simplified the customs, transportation, and logistics processes that are associated with trade in other sectors. In terms of the economic impact of ICTs, one of their most important features is that they play a very important role in changing productivity processes within organizations.

Keywords: Information communication technologies; Information communication technologies and economy; Information communication technologies and competitiveness; economic competitiveness; technology and economy (search for similar items in EconPapers)
JEL-codes: O1 O32 O33 Q55 (search for similar items in EconPapers)
Date: 2021-10-15
New Economics Papers: this item is included in nep-cse, nep-ict and nep-knm
References: View references in EconPapers View complete reference list from CitEc
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Published in Amity University Press 2.4(2021): pp. 22-29

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