Year: 2024
Type: article
Abstract: The digitalisation of the global economy and digital technologies promote trade expansion and cross-border commerce. However, ASEAN countries lack a strategic vision due to weak leadership. This study examines the effects of digitalisation and macroeconomic factors such as inflation, trade openness, and unemployment on the economic growth of seven ASEAN countries from 2002 to 2021. Using data on gross domestic product, mobile cellular subscription, trade openness, inflation, and unemployment rates, this study employed static panel data analysis, including panel specification tests and diagnostic tests. The findings revealed an association between digitalisation, unemployment, trade openness, and economic growth in the seven ASEAN countries. The governments of these countries should direct their attention towards policies that will accelerate the advancement of digital technologies and increase employment, as both have been demonstrated to have a positive impact on economic growth. Adoption of digital technologies and the digitalisation of the global economy offer governments across the globe significant advantages, including enhanced efficacy, transparency, and responsiveness while reducing corruption and bureaucratic obstacles.
Authors: Universiti Teknologi MARA, AHMAD SYAMIM IZZHAR AHMAD RADHI, MASTURAH MA’IN, Universiti Teknologi MARA, NURUL SYIFAA MOHD SHAKIL, Universiti Teknologi MARA, ISMAH OSMAN, Universiti Teknologi MARA
Institutions: Universiti Teknologi MARA System, Universiti Teknologi MARA
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4409196084