Affiliation:
1. Namibia University of Science and Technology, Namibia & SP Pune University, India
Abstract
The digital economy is growing fast, especially in developing countries. Yet the meaning and metrics of the digital economy are both limited and divergent. The core of the digital economy is the ‘digital sector' which is the IT/ICT sector producing foundational digital goods and services. The true ‘digital economy' is that part of economic output derived solely or primarily from digital technologies with a business model based on digital goods or services consisting of the digital sector plus emerging digital and platform services. Following a review of measurement challenges, the chapter estimates the digital economy as defined here to make up around 7% to 10% of global GDP and 3% to 5% of global employment. Hence adopting a qualitative approach, the aim of the chapter is to review what is currently known of the digital economy, understand the scope and relevance, and deliberate on the barriers and impact of the digital economy in the new world order.
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