Developing a Holistic Framework for Assessing the Development of the Digital Economy A Systematic Review of Key Dimensions and Indicators
Main Article Content
Keywords
digital economy/DE, framework, VOSviewer, systematic review
Abstract
Rapid advancements in information and communication technologies (ICT) have accelerated the expansion of the digital economy (DE). However, the lack of a universally accepted definition has hindered a systematic assessment of the progress of the DE. A robust framework to evaluate various aspects of DE activities is crucial to fully capture the potential of the DE. This study conducts a systematic review of academic literature to identify and analyse various dimensions of the DE, aiming to propose a framework to assess the development of the DE. A comprehensive analysis of 161 articles from the Scopus database (2010–2024) identifies four core dimensions, namely digital infrastructure, digital industrialisation, industrial digitisation and digital innovation as the primary focus of existing DE research. These findings lay the groundwork for developing the framework to assess the development of the DE.
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References
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Kumar, N. K., & Yadav, A. S. (2024). A systematic literature review and bibliometric analysis on mobile payments. Vision, 28(3), 287–302. https://doi.org/10.1177/09722629221104190
Lange, S., Pohl, J., & Santarius, T. (2020). Digitalization and energy consumption. Does ICT reduce energy demand? Ecological Economics, 176, 106760. https://doi.org/10.1016/j.ecolecon.2020.106760
Li, Q., & Zhao, S. (2023). The impact of digital economy development on industrial restructuring: Evidence from China. Sustainability, 15(14), 10847. https://doi.org/10.3390/su151410847
Liang, B., He, G., & Wang, Y. (2024). The digital economy, market integration and environmental gains. Global Finance Journal, 60, 100956. https://doi.org/10.1016/j.gfj.2024.100956
Liu, H., & Ji, R. (2023). The mechanism and effect of the promotion of industrial structure upgrading by digital economy. Science & Technology Progress and Policy, 01, 61–70 (In Chinese). https://doi.org/10.6049/kjjbydc.2022060328
Liu, J., Fang, Y., Ma, Y., & Chi, Y. (2024). Digital economy, industrial agglomeration, and green innovation efficiency: empirical analysis based on Chinese data. Journal of Applied Economics, 27(1), 2289723. https://doi.org/10.1080/15140326.2023.2289723
Ma, Q., Mentel, G., Zhao, X., Salahodjaev, R., & Kuldasheva, Z. (2022). Natural resources tax volatility and economic performance: Evaluating the role of digital economy. Resources Policy, 75, 102510. https://doi.org/10.1016/j.resourpol.2021.102510
Mengistu, A. T., & Panizzolo, R. (2021). Indicators and framework for measuring industrial sustainability in Italian footwear small and medium enterprises. Sustainability, 13(10), 5472. https://doi.org/10.3390/su13105472
Millar, J. N., & Grant, H. (2019). Valuing the digital economy of New Zealand. Asia-Pacific Sustainable Development Journal, 1, 1–19. https://dx.doi.org/10.18356/2a2fdd33-en
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Portulans Institute. (2023). Network Readiness Index 2023. https://networkreadinessindex.org/nri-2023-edition-press-release/
Pulsiri, N., & Vatananan-Thesenvitz, R. (2018). Improving Systematic Literature Review with Automation and Bibliometrics. 2018 Portland International Conference on Management of Engineering and Technology (PICMET), 1–8. IEEE Explore. https://doi.org/10.23919/PICMET.2018.8481746
Qin, M., Mirza, N., Su, C. W., & Umar, M. (2023). Exploring bubbles in the digital economy: The case of China. Global Finance Journal, 57, 100871. https://doi.org/10.1016/j.gfj.2023.100871
Rehman, N. U., & Nunziante, G. (2023). The effect of the digital economy on total factor productivity in European regions. Telecommunications Policy, 47(10), 102650. https://doi.org/10.1016/j.telpol.2023.102650
Ren, Y., Zhang, X., & Chen, H. (2022). The impact of new energy enterprises’ digital transformation on their total factor productivity: Empirical evidence from China. Sustainability, 14(21), 13928. https://doi.org/10.3390/su142113928
Rong, K. (2022). Research agenda for the digital economy. Journal of Digital Economy, 1(1), 20–31. https://doi.org/10.1016/j.jdec.2022.08.004
Shahbaz, M., Wang, J., Dong, K., & Zhao, J. (2022). The impact of digital economy on energy transition across the globe: The mediating role of government governance. Renewable & Sustainable Energy Reviews, 166, 112620. https://doi.org/10.1016/j.rser.2022.112620
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Singh, V. K., Singh, P., Karmakar, M., Leta, J., & Mayr, P. (2021). The journal coverage of Web of Science, Scopus and Dimensions: A comparative analysis. Scientometrics, 126, 5113–5142. https://doi.org/10.1007/s11192-021-03948-5
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Su, J., Dong, C., Su, K., & He, L. (2023). Research on the construction of digital economy index system based on K-means-SA algorithm. Sage Open, 13(4). https://doi.org/10.1177/21582440231216359
Tapscott, D., & Caston, A. (1994). Paradigm shift: The new promise of information technology. 62–66. McGraw-Hill, Inc. Professional Book Group, 11 West 19th Street, New York, NY, United States.
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Sep 30, 2024
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Zhong, N., Cheng, M. Y., Tey, S. K., & Fok, K. F. (2024). Developing a Holistic Framework for Assessing the Development of the Digital Economy: A Systematic Review of Key Dimensions and Indicators. Journal of Telecommunications and the Digital Economy, 12(3), 148–173. https://doi.org/10.18080/jtde.v12n3.988
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Author Biographies
Ni Zhong, UTAR, Malaysia; Suzhou City University, China
Zhong Ni: PHD student, Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman , 43000 Kajang, Selangor, Malaysia
Suzhou City University, 1188 Wuzhong Avenue, Suzhou, Jiangsu province, China
Ming Yu Cheng, UTAR, Malaysia
Cheng Ming Yu: Professor Dr. Cheng Ming Yu, Universiti Tunku Abdul Rahman
43000 Kajang, Selangor, Malaysia
Sheik Kyin Tey, UTAR, Malaysia
Tey Sheik Kyin: Assistant Professor, Faculty of Accountancy and Management Universiti Tunku Abdul Rahman (UTAR), Sg Long Campus, Malaysia
Kuk Fai Fok, UTAR, Malaysia
Fok Kuk Fai: Assistant Professor, Faculty of Accountancy and Management Universiti Tunku Abdul Rahman (UTAR), Sg Long Campus, Malaysia
