The Impact of Digital Transformation on Macroeconomic Stability: Evidence from EU Countries

• Autorzy: Inna Tiutiunyk , Josef Drabek , Nataliia Antoniuk , Valentinas Navickas , Pavlo Rubanov
• Języki publikacji: EN

Abstrakty

EN

The article deals with investigating the role of digital transformation in achieving competitive advantages of the economy. The paper identifies the benefits and risks of the digital transformation for macroeconomic stability of the economy. The comparison of the average level of the digital transformation and indicators of macroeconomic stability of EU countries for the period 2001-2020 allowed the authors to distinguish clusters of countries by the nature and direction of the relationship between the analyzed indicators. The results of VAR modelling on the example of EU countries proved the relationship between the level of digitalization of the economy and indicators of its macroeconomic stability. The paper simulates the responses of macroeconomic stability parameters to single and accumulated shocks of digital transformation. The results show the bidirectional causality between the digital transformation of the economy and indicators of its macroeconomic stability. The findings of the study are beneficial for authorities to form competitive advantages of the economy and its sustainable development. (original abstract)

Słowa kluczowe

EN

Digitization; Macroeconomics; Competitive advantage; Sustainable development; Financial innovations; Digital transformation

PL

Cyfryzacja; Makroekonomia; Przewaga konkurencyjna; Rozwój zrównoważony; Innowacje finansowe; Transformacja cyfrowa

• Czasopismo: Journal of International Studies
• Rocznik: 2021
• Tom: 14
• Numer: nr 3
• Strony: 220--234

Twórcy

autor

Inna Tiutiunyk

• Sumy State University, Ukraine

autor

Josef Drabek

• Technical University in Zvolen, Slovak Republic

autor

Nataliia Antoniuk

• Sumy State University, Ukraine

autor

Valentinas Navickas

• Alexander Dubcek University of Trencin, Trencin, Slovakia

autor

Pavlo Rubanov

• Sumy State University, Ukraine

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Identyfikatory

DOI

10.14254/2071-8330.2021/14-3/14