A1 Journal article (refereed)
A new paradox of the digital economy : Structural sources of the limitation of GDP statistics (2018)


Watanabe, C., Tou, Y., & Neittaanmäki, P. (2018). A new paradox of the digital economy : Structural sources of the limitation of GDP statistics. Technology in Society, 55, 9-23. https://doi.org/10.1016/j.techsoc.2018.05.004

The research was funded by Strategic Research Council at the Research Council of Finland.


JYU authors or editors


Publication details

All authors or editors: Watanabe, Chihiro; Tou, Yuji; Neittaanmäki, Pekka

Journal or series: Technology in Society

ISSN: 0160-791X

eISSN: 1879-3274

Publication year: 2018

Volume: 55

Issue number: 0

Pages range: 9-23

Publisher: Pergamon Press

Publication country: United Kingdom

Publication language: English

DOI: https://doi.org/10.1016/j.techsoc.2018.05.004

Publication open access: Not open

Publication channel open access: 

Publication is parallel published (JYX): https://jyx.jyu.fi/handle/123456789/60118


Abstract

The Internet has dramatically changed the way we conduct business and our daily lives by provided us with unprecedented services and conveniences. However, contrary to such accomplishments, productivity in industrialized countries is now experiences an apparent decline. This has raised the question of a possible productivity paradox in the digital economy. The limitation of GDP statistics in measuring the advancement of the digital economy has thus become an important subject.

This paper analyzed the structural sources of this problem.

Utilizing the results of empirical analyses of national, industrial, and individual behavior in the digital economy, solutions to these critical issues were investigated.

Based on the two-faced nature of information and communication technology (ICT) and the fact that people's preferences extend beyond economic value, the concept of uncaptured GDP was postulated and spinoff dynamism to a new co-evolution among advancement of the Internet, increasing dependence on uncaptured GDP, and a shift in people's preferences was reviewed. This provided new insight and suggested a transformative direction to address the limitation of using GDP statistics in the digital economy.


Keywords: digitalisation; national economy; productivity; gross domestic product; innovation (activity)

Free keywords: digital economy; productivity decline; limitation of GDP; uncaptured GDP; soft innovation resources


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Ministry reporting: Yes

Reporting Year: 2018

JUFO rating: 1


Last updated on 2024-08-01 at 15:55