On the Pulse of ICT Revolution, Productivity, and Growth: Macedonia versus European Union

Kostoska, Olivera and Hristoski, Ilija (2016) On the Pulse of ICT Revolution, Productivity, and Growth: Macedonia versus European Union. Proceedings of the Sixth International Conference on Applied Internet and Information Technologies (AIIT 2016). pp. 358-374. ISSN 978-9989-870-75-0

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Abstract

Information and Communication Technologies (ICTs) have become more accessible, more powerful and more widespread. Yet, the use of ICTs is not an end in itself. The impact that such technologies have on the economy and society is what ultimately matters. Understanding the economics of ICTs requires a deep and thorough knowledge of how the new technology generates the economic impacts. The ICT revolution holds the transformative potentials, offering many promises and benefits, even while posing severe risks and challenges. Therefore, it is of great importance and still a challenge to measure the capacity of countries to leverage ICTs for increased competitiveness and wellbeing. Aimed at reaching such a complex task, this paper employs the extensive data compendium of the Networked Readiness Index (NRI) 2015 and a set of supplemental data analysis tools (descriptive statistics, five-number summary statistics and a Box & Whisker plot, Euclidean and statistical distances, hierarchical cluster analysis and a corresponding dendrogram) to estimate both the performance of Macedonia in the NRI and the country’s relative position vis-à-vis the EU member states. Looking at the trends since 2012 reveals that Macedonia is one of the ten most improved countries in their overall NRI performance. Nevertheless, the findings suggest that the country is lagging behind the European average in most indicators. The EU member states with the shortest statistical distance from Macedonia are Croatia, Cyprus, Romania, Hungary and Slovenia. Quite the reverse, the Nordics (Finland, Sweden and Denmark) and Western Europe (Luxemburg, Netherlands and UK) are the most ‘distant’ countries from Macedonia. These latter findings confirm the results obtained by the five-number summary statistics and the hierarchical cluster analysis.

Item Type: Article
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Economics
Depositing User: Mr Dimitar Risteski
Date Deposited: 06 Jun 2017 09:28
Last Modified: 06 Jun 2017 09:28
URI: http://eprints.uklo.edu.mk/id/eprint/317

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