Digitalization of economy is the key factor behind fourth industrial revolution: How G7 countries are overcoming with the financing issues?

Yuan, Shu; Musibau, Hammed Oluwaseyi; Genç, Sema Yılmaz; Shaheen, Riffat; Ameen, Anam; Tan, Zhongfu

doi:10.1016/j.techfore.2020.120533

Cited by 127 publications

(71 citation statements)

References 36 publications

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“…Miller and Wilsdon ( 2001 ) pointed out that digital economy represents a technological revolution and is the decisive factor of technological innovation. Digital technology has played a fundamental business change in the value chain of almost all industries (Yuan et al 2021 ). The solutions of digital technology in energy, manufacturing, agriculture and land use, construction, services, transportation, and other fields can help reduce global carbon emissions by 15% (The Exponential Roadmap 2020 ).…”

Section: Literature Review and Research Hypothesesmentioning

confidence: 99%

Energy structure, digital economy, and carbon emissions: evidence from China

Yang

Ran

et al. 2021

Environ Sci Pollut Res

433

128

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As a new production factor, digitalization plays a vital role in society, economy, and the environment. Based on the expanded STIRPAT model, this paper empirically tests the impact of energy structure and digital economy on carbon emissions by panel data from 2011 to 2017 in 30 provinces of China. The results show that the energy structure mainly based on coal has a significant driving effect on carbon emissions. Compared with non-resource-based provinces, the increase of energy structure dominated by coal has a greater effect on carbon emission in resource-based provinces. It is worth noting that this kind of influence has a greater impact on the central region of China, followed by the western region and the eastern region. Besides, the digital economy has a significant moderating effect. With the development of digital economy, the impact of coal-based energy structure on carbon emissions is gradually decreasing. This effect is more significant in non-resource-based provinces and eastern China, but not significant in resource-based cities and central and western China.

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Section: Literature Review and Research Hypothesesmentioning

confidence: 99%

Energy structure, digital economy, and carbon emissions: evidence from China

Yang

Ran

et al. 2021

Environ Sci Pollut Res

433

128

View full text Add to dashboard Cite

show abstract

“…The data from 2009 to 2018 in the 15 advanced economies of the European Union show that national and industry digital policies can significantly promote economic growth [ 8 ]. In addition, the increase in the productivity of digital assets has brought about a sharp drop in the employment rate in the large-scale production system [ 36 ], which also has created a long-term and stabilizing effect on the development of technological innovation [ 37 ]. From a micro point of view, digital manufacturing technology improves the competitiveness of enterprises and improves the performance of the company [ 38 ], effectively promotes the development of the electronic government [ 39 ], and helps enterprises to realize the business model of a circular economy [ 40 ].…”

Section: Theoretical Analysis and Research Hypothesismentioning

confidence: 99%

Study on the effect of digital economy on high-quality economic development in China

et al. 2021

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At present, the digital economy, which takes information technology and data as the key elements, is booming and has become an important force in promoting the economic growth of various countries. In order to explore the current dynamic trend of China’s digital economy development and the impact of the digital economy on the high-quality economic development, this paper measures the digital economic development index of 30 cities in China from the three dimensions of digital infrastructure, digital industry, and digital integration, uses panel data of 30 cities in China from 2015 to 2019 to construct an econometric model for empirical analysis, and verifies the mediating effect of technological progress between the digital economy and high-quality economic development. The results show that (1) The development level of China’s digital economy is increasing year by year, that the growth of digital infrastructure is obvious, and that the development of the digital industry is relatively slow. (2) Digital infrastructure, digital industry and digital integration all have significant positive effects on regional total factor productivity, and the influence coefficients are 0.2452, 0.0773 and 0.3458 respectively. (3) Regarding the transmission mechanism from the digital economy to the high-quality economic development, the study finds that the mediating effect of technological progress is 0.1527, of which the mediating effect of technological progress in the eastern, northeast, central and western regions is 1.70%, 9.25%, 28.89% and 21.22% respectively. (4) From the perspective of spatial distribution, the development level of the digital economy in the eastern region is much higher than that in other non-eastern regions, and the development of digital economy in the eastern region has a higher marginal contribution rate to the improvement of the total factor productivity. This study can provide a theoretical basis and practical support for the government to formulate policies for the development of the digital economy.

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“…The need for a transition to a circular economy, focused on the utilization and recycling of waste, is recognized in the world and in Russia. However, as noted by the authors of the article [5], the cost of circular technologies is quite high. Due to the high financial risk, banks are often reluctant to fund innovative ideas.…”

Section: Resultsmentioning

confidence: 99%

Assessment of the Factors of Investment Attractiveness of the Business Environment in Terms of Sustainable Development of the Region

2021

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It should be noted, that today the world scientific community try to find new ways of economic development, which are aimed at refusing to absolutize economic growth at the expense of solving social and ecological problems and ensuring the vital requirements of future generations. In this regard, the authors have proposed a methodological technique, that allows to systematize the factors of investment attractiveness of the business environment of the region, which are considered in terms of implementing the goals of sustainable development and increasing innovative activity. At the same time, we consider it necessary to emphasize, that the use of the obtained research results will allow, in our opinion, to significantly advance both in theoretical and practical terms in solving the development and implementation of reasonable interim measures to advance the region towards achieving sustainable development goals.

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Digitalization of economy is the key factor behind fourth industrial revolution: How G7 countries are overcoming with the financing issues?

Cited by 127 publications

References 36 publications

Energy structure, digital economy, and carbon emissions: evidence from China

Energy structure, digital economy, and carbon emissions: evidence from China

Study on the effect of digital economy on high-quality economic development in China

Assessment of the Factors of Investment Attractiveness of the Business Environment in Terms of Sustainable Development of the Region

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