ICT and economic growth: Links and possibilities of engaging

Abstract

The paper deals with analysis and evaluation of impact of information and communication technologies (ICT) on economic growth at the different hierarchical levels. Based on global tendencies of ICT development and their use as a factor of competitive advantages, it is proved that sustainable socioeconomic growth has acquired features of permanent digital development. For developing countries steep ICT development can enforce new impulse of economic progress, which in turn, is proved by correlation analysis and modeling of ICT factors influence on the main financial results. Considering current ICT development trends in business (based on case study of Ukraine ICT use statistics as one of the developing countries) and their relations with financial results, the main policy making actions aiming at further economic development can be defined. They should be aimed mainly at Internet access outspread and web-technologies effective use, particularly in the field of e-commerce. © 2019 Mykolo Romerio Universitetas. All rights reserved.