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Does ICT maturity catalyse economic development? Evidence from a panel data estimation approach in OECD countries.

ABSTRACT: To date, definitions of information and communication technology (ICT) development used in quantitative studies on the relationship between economic development and ICT are incomplete and often based on single indicators. Thus, this study investigates the link between ICT maturity and economic development in the Organisation of Economic Cooperation and Development (OECD) countries. A novel composite index of ICT maturity that includes previously neglected dimensions of ICT maturity, such as affordability and quality of internet connectivity, is utilised. The baseline estimations using the feasible generalised least squares indicate that ICT maturity is associated with an increase in economic development by 1%-3.8% in OECD countries. These findings have been cross-validated by applying the generalised method of moments estimation. Results imply that the holistic development of ICT, including infrastructure, skills, and affordability, can augment economic development.

SUBMITTER: Ali MA

PROVIDER: S-EPMC7485458 | biostudies-literature | 2020 Dec

REPOSITORIES: biostudies-literature

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Does ICT maturity catalyse economic development? Evidence from a panel data estimation approach in OECD countries.

Ali Mohammad Afshar MA Alam Khorshed K Taylor Brad B Rafiq Shuddhasattwa S

Economic analysis and policy 20200911

To date, definitions of information and communication technology (ICT) development used in quantitative studies on the relationship between economic development and ICT are incomplete and often based on single indicators. Thus, this study investigates the link between ICT maturity and economic development in the Organisation of Economic Cooperation and Development (OECD) countries. A novel composite index of ICT maturity that includes previously neglected dimensions of ICT maturity, such as affo ...[more]

PMID: 32952271

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Project description:BackgroundChronic migraine (CM) is a significant neurological condition affecting a substantial portion of the global population. The economic burden of CM includes both direct healthcare costs and indirect costs resulting from productivity losses and intangible impacts on patients' quality of life. However, there is limited research that comprehensively evaluates all cost components associated with CM, highlighting the need for a systematic review.MethodsWe conducted a systematic literature search in databases including MEDLINE, Embase, and CINAHL to identify studies estimating the cost of illness of chronic migraines. The search was restricted to English language articles published from inception to October 2021, and only findings from Organisation for Economic Co-operation and Development (OECD) countries were included. Methodology features and key findings were extracted from the studies, and reported costs were converted to GBP for cross-country comparisons.ResultsThirteen cost-of-illness studies on CM from various OECD countries were included in this review. The studies demonstrated substantial variations in monetary estimates, but consistently highlighted the considerable economic burden of CM. Direct costs, particularly hospitalisation and medication expenses, were identified as the highest contributors. However, indirect costs, such as productivity losses due to absenteeism and presenteeism, were often underexplored in the reviewed studies. Additionally, intangible costs related to emotional and social impacts on patients were largely overlooked.ConclusionChronic migraine imposes a significant economic burden on individuals, healthcare systems, and society. Policymakers and healthcare stakeholders should consider both direct and indirect cost components, as well as intangible costs, in developing targeted strategies for effective CM management and resource allocation. Further research focusing on comprehensive cost assessments and sensitivity analyses is needed to enhance the understanding of CM's economic implications and inform evidence-based healthcare policy decisions. Addressing these research gaps can alleviate the economic burden of CM and improve patient outcomes.

Project description:BackgroundThe friction cost approach (FCA) offers an alternative to the dominant human capital approach to value productivity losses. Application of the FCA in practice is limited largely due to data availability. Recent attempts have tried to standardise the estimation of friction periods across Europe, but to date, this has not been attempted elsewhere. Our aim was to estimate friction periods for 17 Organisation for Economic Co-operation and Development (OECD) member countries between 2010 and 2021 based on routinely published data.MethodsWe derived friction period estimates for Australia, Austria, Canada, Czechia, Finland, Germany, Hungary, Japan, Korea, Luxembourg, Norway, Poland, Portugal, Sweden, Switzerland, the United Kingdom and the United States. Vacancy stock and flow data was sourced from the OECD's short-term labour situation database from 2010 to 2021, and included the impact of Covid-19 on the labour market. The estimated friction periods were applied to cost cancer-related premature mortality for the United States as an illustrative case.ResultsThe average friction period in the five non-European countries (Australia, Canada, Korea, Japan and the United States) was 61.0 days (SD 9.4) (range between 44.8 days in Korea and 82.2 days in Canada) and the average friction period in the 12 European countries was 60.6 days (SD 14.8) (range between 34.1 days in Switzerland and 137.3 days in Czechia). In both cases, the outbreak of Covid-19 increased the length of the friction period. Our illustrative case revealed that productivity costs in the US were over a third lower using the study-specific friction period (56 days) compared with the conventionally assumed 90-day friction period applied in the literature as a default measure.ConclusionsOur results expand the potential application of the FCA outside of Europe and will support greater utilisation of the FCA and wider inclusion of productivity costs in societal-based economic evaluations based on the use of widely available and updated key labour market variables in our selected countries.

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Does ICT maturity catalyse economic development? Evidence from a panel data estimation approach in OECD countries.

Publications

Does ICT maturity catalyse economic development? Evidence from a panel data estimation approach in OECD countries.

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