Impact of Technology Revolution on Economic Development Over the Past Decade Book Chapter Conference Paper uri icon


  • In the past decade, the exponential development of ICT has generated a fast economic development. So, in order to better understand this phenomenon, a systematic literature review based on the Scopus database was carried out. The majority of the studies was developed in Europe and was secondary (82.4%) and qualitative (64.7%) research. Regarding the microeconomic lev-el, the evidences are: greater efficiency of businesses and companies, im-proved productivity; reduction of transaction costs; improved prof-it/economic performance of businesses; creation of closer ties between com-panies and customers, suppliers and partners/collaborators; changes in the functioning of markets that become more dynamic, challenging and competi-tive; new ways of production organization, changes in the structure of de-mand and supply for goods and services; and, the emergence of new prod-ucts. With regard to the macroeconomic level, the results show that ICT and emerging technologies have positive impacts on innovation, employment, economic and financial development, the human development index, social development, with greater civic participation of citizens in Society, greater social well-being, improvement of living conditions especially in the poorest rural areas, better quality of life, reduction of poverty, although there is also the risk of exclusion of significant parts of Society if not adhered to technol-ogies. There are also researches that highlight the role of ICT in sustainable development (economic, social and environmental). It should be noted that existing studies confirm that the impacts are greater on economic growth when compared to economic development and the human development in-dex.
  • The authors are grateful to the Foundation for Science and Technology (FCT, Portugal) for financial support through national funds FCT/MCTES (PIDDAC) to CIMO (UIDB/00690/2020 and UIDP/00690/2020) and SusTEC (LA/P/0007/2020).

publication date

  • 2024