Technology-based factors of globalization in market and transition economies. Is there a difference?
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Date
2024
Authors
Petkovski, Ivana
Fedajev, Aleksandra
Mihajlovic, Ivan
Journal Title
Journal ISSN
Volume Title
Publisher
Vilnius Gediminas Technical University, Lithuania
Source
Business, Management and Economics Engineering
Volume
22
Issue
1
Abstract
Purpose – The global crises that emerged during the last two decades proved that economies that focus their development on demand are the most vulnerable during crises. However, development strategies depend on specific internal and external circumstances impacting development of particular country. In that sense, this research aims to identify how digitalization, science and technology, and ICT trade impact globalization in market and transition economies.
Research methodology – Authors employed the PLS-SEM methodology on available dataset for 32 European economies.
Findings – According to the findings, digitalization is the factor that has the highest positive impact on globalization in market economies, while ICT trade has the greatest positive impact on globalization in transition economies. Science and technological advancements have a diverse impact. The MGA results stressed out the difference between these groups even more clear.
Research limitations – The presented model does not consider country-level analysis of globalization.
Practical implications – The study is providing theoretical and empirical base for strategy and policy development in the globalization domain in line with economy character.
Originality – The value of the research is found in contributing to the globalization topic in market, and particularly in transition economie that lack empirical research in this field.
Description
Keywords
globalization, PLS-SEM, ICT trade, digitalization, science and technology
Citation
DOI
10.3846/bmee.2024.19904
Scopus
ISSN
2669-2481
2669-249X
2669-249X
ISBN
License
CC-BY