MACROECONOMIC DIMENSION OF INFORMATION TECHNOLOGY MARKET DEVELOPMENT

Author:

Rudenko IhorORCID,Umantsiv YuriiORCID,Cherlenyak IvanORCID,Emets VadymORCID,Shcherbakova TamilaORCID

Abstract

Information technologies play a crucial role in the modern economic system, acting as a driver for the development of the state. Information technologies are not only one of the most important factors stimulating economic growth but also contribute to the development of society, employment stimulation, and competition enhancement. The information technology market generates a significant portion of the GDP and export revenues. The analysis of the formation and development of the domestic information technology market is a key factor in understanding its importance in shaping the prospects of Ukraine as a digital state. The study analyses the dynamics of the development of the national information technology market, providing a comparative analysis of indicators between the Ukrainian market and several other countries.The article aims to analyse the macroeconomic impact of the information technology market on the development of the national economy, investigating correlation relationships between the rates of economic growth and various indicators both in Ukraine and in EU countries.The article explores the directions of the influence of the national information technology market on the dynamics of economic growth. Based on the conducted analysis, conclusions are drawn about the existence of a direct correlation between the growth of information technology export and GDP growth both in Ukraine and in European Union countries. The correlation between the increase in GDP and the growth of other important indicators in the information technology market, including the number of specialists and investments in scientific research, is analysed. Statistical methods reveal a relatively strong connection between the growth rates of investments in scientific research in the field of information technology and the GDP growth rate. At the same time, the correlation between the growth of the workforce in the information technology market and GDP is somewhat weaker.

Publisher

FinTechAlliance

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