Emerging markets: the impact of ICT on the economy and society

Abstract

Purpose The purpose of this research is to quantifiably measure the relationship between technological advancement, economic growth and societal employment trends across the Brazil, Russia, India and China (BRIC) countries, while also describing various government initiatives and policy steps taken to promote technology development. Design/methodology/approach This paper examines the relationship between the United Nations’ International Telecommunication Union’s Information and Communication Technology (ICT) development Index (IDI), gross domestic product (GDP) and unemployment data. The paper also reviews the broadband and e-readiness components of each BRIC nation to further describe the policies in adoption of ICT. Findings This research concludes that there is in fact a significant positive correlation between technology (as measured by IDI) and economy (as measured by a nation’s GDP) and there is a significant negative correlation between technology (as measured by IDI) and a nation’s unemployment rate benefiting the society. Originality/value This research seeks to describe the impact of Information Communication Technology on economic and society indices in BRIC. Paper contributions include an empirical measurement and relationship between technological advancement, economic growth and employment trends across the BRIC countries, while also describing various government policy initiatives taken to promote technology.