Emerging markets: the impact of ICT on the economy and society
| DOI | https://doi.org/10.1108/DPRG-04-2017-0013 |
| Date | 14 August 2017 |
| Published date | 14 August 2017 |
| Pages | 383-396 |
| Author | Shahram Amiri,Joseph M. Woodside |
| Subject Matter | Information & knowledge management,Information management & governance,Information policy |
Emerging markets: the impact of ICT on
the economy and society
Shahram Amiri and Joseph M. Woodside
Shahram Amiri and
Joseph M. Woodside are
both based at Stetson
University, DeLand,
Florida, US.
Abstract
Purpose –The purpose of this research is to quantifiably measure the relationship between
technological advancement, economic growth and societal employment trends across the Brazil,
Russia, India and China (BRIC) countries, while also describing various government initiatives and
policy steps taken to promote technology development.
Design/methodology/approach –This paper examines the relationship between the United Nations’
International Telecommunication Union’s Information and Communication Technology (ICT)
development Index (IDI), gross domestic product (GDP) and unemployment data. The paper also
reviews the broadband and e-readiness components of each BRIC nation to further describe the
policies in adoption of ICT.
Findings –This research concludes that there is in fact a significant positive correlation between
technology (as measured by IDI) and economy (as measured by a nation’s GDP) and there is a
significant negative correlation between technology (as measured by IDI) and a nation’s unemployment
rate benefiting the society.
Originality/value –This research seeks to describe the impact of Information Communication
Technology on economic and society indices in BRIC. Paper contributions include an empirical
measurement and relationship between technological advancement, economic growth and
employment trends across the BRIC countries, while also describing various government policy
initiatives taken to promote technology.
Keywords GDP, ICT, BRIC, Emerging markets, Unemployment, IDI
Paper type Research paper
Emerging markets on a global scale
The four countries comprising the largest emerging markets are Brazil, Russia, India
and China (BRIC), and account for more than 25 per cent of global gross domestic
product (GDP), make up 40 per cent of the world’s population and include 2.8 billion
people (Global Sherpa, 2017). These four BRIC countries cover more than a quarter of
the world’s land area and span across three continents. The demographics and
population of these countries have a significant impact on the potential for future
growth. In the early 2000s, Goldman Sachs predicted all four countries would be in the
top ten largest economies by 2050, predicting China first, India third, Brazil fifth and
Russia sixth.
In the BRIC countries, GDP has grown significantly over the past several years and
compared to the rest of the world, BRIC countries have experience a much higher growth
rate in the past decade. China has the largest GDP of the four BRIC countries, but all have
experienced GDP growth. While the world’s growth rate has averaged 0-5 per cent, BRIC
countries have consistently been above the world’s average. China and India represent the
“rapid growth team”, while the other BRIC countries represent the “normal growth team”
(Egawa, 2014). One indicator that proves the economic growth and positive state of the
BRIC economies is the unemployment rate in the society. Unemployment rates in BRIC
Received 1 April 2017
Revised 6 June 2017
Accepted 14 June 2017
DOI 10.1108/DPRG-04-2017-0013 VOL. 19 NO. 5 2017, pp. 383-396, © Emerald Publishing Limited, ISSN 2398-5038 DIGITAL POLICY, REGULATION AND GOVERNANCE PAGE 383
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