<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Finding a way of achieving economic growth in the crisis period due to the COVID-19 pandemic, Russia’s invasion of Ukraine, and probable global regression aggravates the need for the implementation of managerial solutions of entering or intensifying participation in the perspective markets. The ICT industry has been a locomotive of economic development for the last decade for participating economies. The basic idea of the paper is based on the need to analyze the impact of countries’ participation in the ICT services market on their economic growth, consumer price indices (CPI), and exchange rates. The purpose was achieved by performing an analysis of the state and dynamics of the main indicators of the world ICT services market. The results show that the volume of ICT services exported and imported is growing. Moreover, we aimed to provide empirical evidence on the ICT services market’s impact on the economic parameters of the countries. We proposed a statistical model of Pearson’s r regression, based on the data of GDP values, CPI, and exchange rates of the 30 largest markets accounting for more than 90% of the ICT world market. The core results demonstrate stronger ICT services export and import correlation with GDP for economies with lower GDP per capita. The model shows a high success rate depending on variables. Based on the results obtained during modelling, propositions, and recommendations for countries with different socio-economic development levels were given.</p>
</abstract>

Finding a way of achieving economic growth in the crisis period due to the COVID-19 pandemic, Russia’s invasion of Ukraine, and probable global regression aggravates the need for the implementation of managerial solutions of entering or intensifying participation in the perspective markets. The ICT industry has been a locomotive of economic development for the last decade for participating economies. The basic idea of the paper is based on the need to analyze the impact of countries’ participation in the ICT services market on their economic growth, consumer price indices (CPI), and exchange rates. The purpose was achieved by performing an analysis of the state and dynamics of the main indicators of the world ICT services market. The results show that the volume of ICT services exported and imported is growing. Moreover, we aimed to provide empirical evidence on the ICT services market’s impact on the economic parameters of the countries. We proposed a statistical model of Pearson’s r regression, based on the data of GDP values, CPI, and exchange rates of the 30 largest markets accounting for more than 90% of the ICT world market. The core results demonstrate stronger ICT services export and import correlation with GDP for economies with lower GDP per capita. The model shows a high success rate depending on variables. Based on the results obtained during modelling, propositions, and recommendations for countries with different socio-economic development levels were given.

The Impact of Countries’ Participation in the ICT Services Market on Economic Growth, CPI, and Exchange Rates

ECONOMICS

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Finding a way of achieving economic growth in the crisis period due to the COVID-19 pandemic, Russia’s invasion of Ukraine, and probable global regression...

The Impact of Countries’ Participation in the ICT Services Market on Economic Growth, CPI, and Exchange Rates

Data publikacji: 17 maj 2023

Zakres stron: 269 - 287

Otrzymano: 06 lut 2023

Przyjęty: 29 maj 2023

DOI: https://doi.org/10.2478/eoik-2023-0009

Słowa kluczowe
ICT services market, economic growth, GDP, CPI, exchange rate

© 2023 Andrii Oliinyk, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The Impact of Countries’ Participation in the ICT Services Market on Economic Growth, CPI, and Exchange Rates

Data publikacji: 17 maj 2023

Zakres stron: 269 - 287

Otrzymano: 06 lut 2023

Przyjęty: 29 maj 2023

DOI: https://doi.org/10.2478/eoik-2023-0009

Słowa kluczoweICT services market, economic growth, GDP, CPI, exchange rate

© 2023 Andrii Oliinyk, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Słowa kluczowe
ICT services market, economic growth, GDP, CPI, exchange rate