ECONOMETRIC ASSESSMENT OF THE IMPACT OF DIGITAL ECONOMY DEVELOPMENT ON ECONOMIC GROWTH IN UZBEKISTAN
Abstract
This study empirically examines the impact of digital economy development on economic growth in Uzbekistan using annual time-series data from 2000 to 2023. Given the rapid structural transition of the Uzbek economy, the research evaluates whether consumer digital adoption (internet penetration and mobile cellular subscriptions) has yielded statistically significant short-term macroeconomic returns. Preliminary Augmented Dickey-Fuller (ADF) unit root testing revealed severe nonstationarity in physical capital formation (>I(2)), explicitly invalidating standard cointegration techniques such as ARDL bounds testing.
References
Bahrini, R., & Qaffas, A. A. (2019). Impact of Information and Communication Technology on Economic Growth: Evidence from Developing Countries. Economies, 7(1), 21. https://doi.org/10.3390/economies7010021 2. Goldfarb, A., & Tucker, C. (2019). Digital Economics. Journal of Economic Literature, 57(1), 3-43. https://doi.org/10.1257/jel.20171452 3. Myovella, G., Karacuka, M., & Haucap, J. (2020). Digitalization and economic growth: A comparative analysis of Sub-Saharan Africa and OECD economies. Telecommunications Policy, 44(2), 101856. https://doi.org/10.1016/j.telpol.2019.101856 4. Niebel, T. (2018). ICT and economic growth – Comparing developing, emerging and developed countries. World Development, 104, 197-211. https://doi.org/10.1016/j.worlddev.2017.11.024 5. Nurgazina, Z., et al. (2021). The Role of Information and Communication Technologies in the Economic Growth of Central Asian Countries. Journal of Asian Finance, Economics and Business, 8(5), 1069-1076. https://doi.org/10.13106/jafeb.2021.vol8.no5.1069 6. Toader, E., Firtescu, B. N., Roșu, A. M., & Anton, S. G. (2018). Impact of Information and Communication Technology Infrastructure on Economic Growth: An Empirical Assessment for the EU Countries. Sustainability, 10(10), 3750. https://doi.org/10.3390/su10103750 7. Vu, K. M. (2011). ICT as a source of economic growth in the information age: Empirical evidence from the 1996–2005 period. Telecommunications Policy, 35(4), 357-372. https://doi.org/10.1016/j.telpol.2011.02.008
