Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/335751 
Year of Publication: 
2021
Citation: 
[Journal:] Economic Themes [ISSN:] 2217-3668 [Volume:] 59 [Issue:] 2 [Year:] 2021 [Pages:] 259-280
Publisher: 
Paradigm Publishing Services, Warsaw
Abstract: 
The research focus on the analysis of interdependence of economic and ICT development results from the fact that, in recent decades, ICTs have become a dominant factor in generating socio-economic prosperity of countries. ICT expansion is a stimulus for economic growth, and vice versa. In order to empirically verify the observed interdependence, on the example of the selected 37 European countries, a two-stage statistical analysis was conducted, based on a combined application of cluster analysis and a oneway analysis of variance. Using specific data from 2017, the following was conducted: (a) formation of groups of countries by implementing cluster analysis based on the three structural components of the ICT Development Index; and (b) by applying the ANOVA method and using the values of GDP per capita, testing the validity of assumption regarding the existence of statistically significant differences, in terms of the achieved level of economic development between the formed groups of countries of different levels of ICT development. The obtained results suggest the extraction of three clusters of countries and the acceptance of the defined hypothesis. Serbia is classified within the cluster of medium ICT development level and is characterized by the value of GDP per capita that is significantly below the group average, which indicates the possibility and the need for improvement in the ICT field.
Subjects: 
statistical analysis
cluster analysis
ANOVA
ICT development
economic development
selected European countries
JEL: 
C38
C12
O33
O47
O57
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.