№1, 2019

THE IMPACT OF ICT ON ECONOMIC DEVELOPMENT AND THE METHODOLOGICAL ASPECTS OF ITS ECONOMETRIC ASSESSMENT
Alovsat G. Aliyev

The article explores the role of ICT affecting the development of the national economy. Existing international research studies focused on the impact of ICT on economic growth are analyzed. The essence of economic growth and its specific indicators and factors are highlighted. The importance of ICT sector in economic development is indicated. The effects of the rate of the use of ICT on the Gross Domestic Product (GDP) are analyzed. The dependencies between ICT and economic development in Azerbaijan are evaluated through econometric methods and some recommendations are made. Correlations between ICT and GDP are built and tested by regression models. The relationships between GDP and revenues of the ICT sectors, as well as the relationships between GDP and GDP of the non-oil sector are estimated using econometric methods (pp.63-76).

Keywords:innovation economy, information economy ICT and economic growth, Gross Domestic Product (GDP), econometric analysis, ICT’s impact assessment, econometric models and methods.
References
  • Milli iqtisadiyyat və iqtisadiyyatın əsas sektorları üzrə Strateji Yol Xəritələri, http://www.president.az/articles/21953.
  • Telekommunikasiya və informasiya texnologiyalarının inkişafına dair Strateji Yol Xəritəsi, http://www.president.az/articles/22382.
  • “Azərbaycan Respublikasında İnformasiya Cəmiyyətinin İnkişafına dair 2014-2020-ci illər üçün Milli Strategiya”, http://www.president.az/articles/11312.
  • “Elm haqqında” Azərbaycan Respublikasının Qanunu, http://www.science.gov.az/uploads/PDF/Elm_haqqinda_Azerbaycan_Respublikasinin_Qanunu.pdf.
  • Web of Science, https://webofknowledge.com
  • Tomas N. ICT and economic growth Comparing developing? // Emerging and developed countries World development, 2010, Volume 104, pp. 197-211.
  • Акаев А.А., Рудской А.И. Конвергентные ИКТ как ключевой фактор технического прогресса на ближайшие десятиллетия и их  влияние на мировое экономические развитие // International Journal of Open Information Technologies, 2017, vol. 5, no. 1, стр.1-18.
  • Vu K.M. Information and Communication Technology (ICT) and Singapore's economic growth // Information economics and policy,  2013, volume  25, issue 4, pp.284-300.   
  • Kocwin L. Contribution of the ICT sector to the intensification of economic growth in Poland in the years 2014-2020 / International Conference on ICT Management for Global Competitiveness and Economic Growth in Emerging Economies (ICTM). Wroclaw, Poland, nov. 07-08, 2016. Proceedings Of The International Conference On Ict Management For Global Competitiveness And Economic Growth In Emerging Economies (ICTM- 2016), pp.184-200.
  • Jin S., Cheong Cho M. Is ICT a new essential for national economic growth in an information society? // Government Information Quarterly. 2015, volume 32, issue 3, pp.253-260.
  • Hanclova J., Doucek P., Fischer Jakub, et al. Does ICT capital affect economic growth in the European Union (EU)-15 and European Union (EU) -12 countries? // Journal of business economics and management, 2015, volume 16, issue 2, pp.387-406.
  • Harald E., Magnus H. Swedish lessons: How important are ICT and Research and development (R&D) to economic growth? // Structural change and economic dynamics.  2017, volume 42, pp.1-12.
  • Mohammed A.M., Zunaidah S. The linear and non-linear impacts of ICT on economic growth, of disaggregate income groups within SSA region // Telecommunications policy,  2017, volume 41, issue 7-8, pp.555-572.   
  • Hwang W. , Jungwoo S. ICT-specific technological change and economic growth in Korea //  Telecommunications policy, 2017, volume 41, issue 4, pp.282-294.  
  • Stanley T. D., Hristos D., Piers S. Does ICT generate economic growth? A meta-regression analysis // Journal of economic surveys,  2018, volume 32, issue 3, pp.705-726.   
  • Ji H., Zhang P. Research on the motivation and tendency of enterprise performance evaluation in information economy / International Conference on Education Science and Economic Management (ICESEM), China, Oct.14-15, 2017.  Book Series: Advances in Social Science Education and Humanities Research,  volume 106, pp.248-251.
  • Rami H., Sami A. Econometric analysis of the impact of ict on economic growth for qatar in globalization context / 16 th International Scientific Conference on Globalization and its Socio-Economic Consequences. Slovakia, oct. 05-06, 2016. Globalization and Its Socio-Economic Consequences, 16th International Scientific Conference Proceedings, PTS I-V. pp.654-662. 
  • Беляцкая Т.Н. Информационно-коммуникационные технологии в экономике. // The practical significance of modern scientific research. Научный взгляд в будущее, 2017, в. 6, т. 1. с. 97-103.
  • Варнавский В.Г. Экономический рост в США: тренды и факторы // Мировая экономика и международные отношения, 2016, том 60, №2, с.26-39.
  • Saidi K., Hassen L.B., Hammami M.S. Econometric analysis of the relationship between ICT and economic growth in Tunisia // Journal of the knowledge economy, 2014, volume 6, issue 4, pp. 1191-1206.
  • Barney T., Evelyn Ng., Junhui J. The process of technology leapfrogging: case analysis of the national ICT infrastructure development journey of Azerbaijan // International journal of information management,  2018, volume 38, issue 1, pp. 311-316.   
  • Laitsou E., Kargas A., Varoutas D. The impact of ICT on economic growth of Greece and EU-28 under economic crisis // Internet of things business models, users, and networks, 2017, pp.1-6.
  • Alguliyev R.M., Aliyev A.G. The study of formation characteristics and development tendencies of international information and knowledge economy // Review of knowledge economy, 2017, vol. 4, No. 1, pp. 7-14.
  • Aliyev A.G. Methodological aspects of estimation of ICT-based economic development // International journal management dynamics in the knowledge economy, 2018, vol.6 no.2, pp.227-245.
  • The Global Competiviness Report 2018, https://www.weforum.org/reports/the-global-competitiveness-report-2017-2018.
  • Fətəliyeva G.A. Dünyada və Azərbaycanda informasiya-kommunikasiya texnologiyaları sahələrinin müasir durumu // AMEA İqtisadiyyat İnstitutu. Elmi Əsərlər, 2017, №6, s.102-108.
  • Həsənova N.F. Azərbaycanda informasiya məhsulları və xidmətləri bazarının mövcud vəziyyəti // AMEA-nın Xəbərləri. İqtisadiyyat seriyası, 2018, s.76-82.
  • Azərbaycan Respublikasının Dövlət Statistika Komitəsi. Azərbaycanda İnformasiya Cəmiyyəti. İnformasiya və kommunikasiya texnologiyaları. Statistik Məcmuə. Bakı, 2016. 162 s.
  • Azərbaycan Respublikasının Dövlət Statistika Komitəsi, http://www.stat.gov.az/source/system_nat_accounts
  • Skeels Christopher L. Introduction to the theory of econometrics // Economic record, 2018, volume 94, issue 305, pp.209-211.    
  • Lee Mei-Yu. On the Durbin-Watson statistic based on a Z-test in large samples // International journal of computational economics and econometrics, 2016, volume 6, issue 1, pp.114-121.
  • Keiji K., Hayato W. Minimization of Akaike's information criterion in linear regression analysis via mixed integer nonlinear program // Optimization methods & software,  2018, volume 33,  issue 3, pp.633-649.  
  • Nosek Konrad. Schwarz information criterion based tests for a change-point in regression models // Statistical papers, 2010, volume 51, issue 4, pp.915-929.
  • EViews 7 User’s Guide I, Guide II. Printed in the USA, 2010. pp.688,http://www.eviews.com.