How does the use of ICTs impact developing economies in terms of GDP? A cross country-level analysis
The purpose of this research is to find the direct and/or indirect relationship between information and communications technologies (ICTs) and the economic development of transitioning countries. Specifically focusing on how technology can be used to advance a developing economy, this paper consists of conceptual background in terms of ICTs as well as a country-level analysis cross-referencing Albania, Armenia, Bosnia and Herzegovina (BiH), Croatia, Serbia, and Slovenia. These countries were categorized as European Union (EU) member states and non-EU countries solely to analyze the factors that can be used to advance a transitioning economy into a developed economy. Out of the selected ICT indicators in the study, it was found that fixed telephone subscriptions, fixed broadband subscriptions, research and development expenditures, and mobile cellular subscriptions all play a significant role for an increase in gross domestic product (GDP).