1. Home
  2. Vol 8, No 4 (2024)
  3. Nguyen

Exploring the Nexus between Digital Economy and Green Growth: Insights from Emerging Economies

Quang Minh Nguyen, Nga Phan Thi Hang, Le Trung Dao

Abstract


The digital economy creates new development space, opening high-speed and sustainable growth opportunities for Vietnam to become a leading country in the region in digital economic development and green growth. Thus, the article's objectives are to explore the key factors affecting the digital economy and their impacts on green growth. Based on the above goal, the authors used qualitative and quantitative methodologies to analyze the data, and the study used descriptive statistical methods, including assessing the mean value and standard deviation and utilizing a structural equation model using SPSS 20.0 and Amos from surveying a sample size of 250 persons related to management, economics, banks, research institutes, and universities in 10 provinces in Vietnam. The article's findings have five determinants influencing the digital economy and impacting the digital economy on green growth. Finally, the study's novelty helps policymakers and provincial managers apply research results to develop the digital economy and green growth. Mainly, many proposed solutions exist to realize the parallelism of the digital economy and the green economy; these policy recommendations pay more attention to investment in human resource quality, technological innovation, perfect digital policies, investment in digital infrastructure, and promote propaganda work to raise awareness of the entire society about the digital economy.

 

Doi: 10.28991/ESJ-2024-08-04-022

Full Text: PDF


Keywords


Digital; Economy; Development; Green; Growth; Policy.

References


Acemoglu, D., & Restrepo, P. (2018). The race between man and machine: Implications of technology for growth, factor shares, and employment. American Economic Review, 108(6), 1488–1542. doi:10.1257/aer.20160696.

Adom, P. K., & Amuakwa-Mensah, F. (2016). What drives the energy saving role of FDI and industrialization in East Africa? Renewable and Sustainable Energy Reviews, 65, 925–942. doi:10.1016/j.rser.2016.07.039.

Ahmed, K., & Ozturk, I. (2018). What new technology means for the energy demand in China? A sustainable development perspective. Environmental Science and Pollution Research, 25(29), 29766–29771. doi:10.1007/s11356-018-2957-3.

Ahmed, Z., & Wang, Z. (2019). Investigating the impact of human capital on the ecological footprint in India: An empirical analysis. Environmental Science and Pollution Research, 26(26), 26782–26796. doi:10.1007/s11356-019-05911-7.

Alam, M. M., & Murad, M. W. (2020). The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries. Renewable Energy, 145, 382–390. doi:10.1016/j.renene.2019.06.054.

Andrew Petersen, J., Paulich, B. J. W., Khodakarami, F., Spyropoulou, S., & Kumar, V. (2022). Customer-based execution strategy in a global digital economy. International Journal of Research in Marketing, 39(2), 566–582. doi:10.1016/j.ijresmar.2021.09.010.

Balogun, A. L., Marks, D., Sharma, R., Shekhar, H., Balmes, C., Maheng, D., Arshad, A., & Salehi, P. (2020). Assessing the Potentials of Digitalization as a Tool for Climate Change Adaptation and Sustainable Development in Urban Centres. Sustainable Cities and Society, 53, 101888. doi:10.1016/j.scs.2019.101888.

Berkhout, E., Bouma, J., Terzidis, N., & Voors, M. (2018). Supporting local institutions for inclusive green growth: Developing an Evidence Gap Map. NJAS - Wageningen Journal of Life Sciences, 84, 51–71. doi:10.1016/j.njas.2017.10.001.

Bogachov, S., Pluhatar, T., Plakhotnik, O., Alieksieieva, O., & Bondar, V. (2021). Innovative business development in the digital economy. Entrepreneurship and Sustainability Issues, 8(4), 682–696. doi:10.9770/jesi.2021.8.4(42).

Bunje, M. Y., Abendin, S., & Wang, Y. (2022). The multidimensional effect of financial development on trade in Africa: The role of the digital economy. Telecommunications Policy, 46(10), 102444. doi:10.1016/j.telpol.2022.102444.

Chai, J., Hao, Y., Wu, H., & Yang, Y. (2021). Do constraints created by economic growth targets benefit sustainable development? Evidence from China. Business Strategy and the Environment, 30(8), 4188–4205. doi:10.1002/bse.2864.

Chen, S., Ding, D., Shi, G., & Chen, G. (2022). Digital economy, industrial structure, and carbon emissions: An empirical study based on a provincial panel data set from China. Chinese Journal of Population Resources and Environment, 20(4), 316–323. doi:10.1016/j.cjpre.2022.11.002.

Contador, J. C., Satyro, W. C., Contador, J. L., & Spinola, M. de M. (2020). Taxonomy of organizational alignment: implications for data-driven sustainable performance of firms and supply chains. Journal of Enterprise Information Management, 34(1), 343–364. doi:10.1108/JEIM-02-2020-0046.

Cui, L., Hou, Y., Liu, Y., & Zhang, L. (2021). Text mining to explore the influencing factors of sharing economy driven digital platforms to promote social and economic development. Information Technology for Development, 27(4), 779–801. doi:10.1080/02681102.2020.1815636.

Lyu, Y., Wang, W., Wu, Y., & Zhang, J. (2023). How does digital economy affect green total factor productivity? Evidence from China. Science of the Total Environment, 857, 159428. doi:10.1016/j.scitotenv.2022.159428.

Dong, K., Yang, S., & Wang, J. (2023). How digital economy lead to low-carbon development in China? The case of e-commerce city pilot reform. Journal of Cleaner Production, 391, 136177. doi:10.1016/j.jclepro.2023.136177.

Ghobakhloo, M., Iranmanesh, M., Grybauskas, A., Vilkas, M., & Petraitė, M. (2021). Industry 4.0, innovation, and sustainable development: A systematic review and a roadmap to sustainable innovation. Business Strategy and the Environment, 30(8), 4237–4257. doi:10.1002/bse.2867.

Ma, D., & Zhu, Q. (2022). Innovation in emerging economies: Research on the digital economy driving high-quality green development. Journal of Business Research, 145, 801–813. doi:10.1016/j.jbusres.2022.03.041.

Goralski, M. A., & Tan, T. K. (2022). Artificial intelligence and poverty alleviation: Emerging innovations and their implications for management education and sustainable development. International Journal of Management Education, 20(3), 100662. doi:10.1016/j.ijme.2022.100662.

Ren, S., Li, L., Han, Y., Hao, Y., & Wu, H. (2022). The emerging driving force of inclusive green growth: Does digital economy agglomeration work? Business Strategy and the Environment, 31(4), 1656–1678. doi:10.1002/bse.2975.

Gu, K., Dong, F., Sun, H., & Zhou, Y. (2021). How economic policy uncertainty processes impact on inclusive green growth in emerging industrialized countries: A case study of China. Journal of Cleaner Production, 322, 128963. doi:10.1016/j.jclepro.2021.128963.

2Hao, X., Li, Y., Ren, S., Wu, H., & Hao, Y. (2023). The role of digitalization on green economic growth: Does industrial structure optimization and green innovation matter? Journal of Environmental Management, 325, 116504. doi:10.1016/j.jenvman.2022.116504.

Salahuddin, M., & Alam, K. (2015). Internet usage, electricity consumption and economic growth in Australia: A time series evidence. Telematics and Informatics, 32(4), 862–878. doi:10.1016/j.tele.2015.04.011.

Horoshko, O. I., Horoshko, A., Bilyuga, S., & Horoshko, V. (2021). Theoretical and Methodological Bases of the Study of the iImpact of Digital Economy on World Policy in 21 Century. Technological Forecasting and Social Change, 166, 120640. doi:10.1016/j.techfore.2021.120640.

Hosan, S., Karmaker, S. C., Rahman, M. M., Chapman, A. J., & Saha, B. B. (2022). Dynamic links among the demographic dividend, digitalization, energy intensity and sustainable economic growth: Empirical evidence from emerging economies. Journal of Cleaner Production, 330, 129858. doi:10.1016/j.jclepro.2021.129858.

Jia, F., Ma, X., Xu, X., & Xie, L. (2020). The differential role of manufacturing and non-manufacturing TFP growth in economic growth. Structural Change and Economic Dynamics, 52, 174–183. doi:10.1016/j.strueco.2019.10.006.

Danish, & Ulucak, R. (2020). How do environmental technologies affect green growth? Evidence from BRICS economies. Science of the Total Environment, 712, 136504. doi:10.1016/j.scitotenv.2020.136504.

Lange, S., Pohl, J., & Santarius, T. (2020). Digitalization and energy consumption. Does ICT reduce energy demand? Ecological Economics, 176, 106760. doi:10.1016/j.ecolecon.2020.106760.

Leng, X., & Tong, G. (2022). The Digital Economy Empowers the Sustainable Development of China’s Agriculture-Related Industries. Sustainability (Switzerland), 14(17), 1–22. doi:10.3390/su141710967.

Shahbaz, M., Wang, J., Dong, K., & Zhao, J. (2022). The impact of digital economy on energy transition across the globe: The mediating role of government governance. Renewable and Sustainable Energy Reviews, 166, 112620. doi:10.1016/j.rser.2022.112620.

Li, G., & Wei, W. (2021). Financial development, openness, innovation, carbon emissions, and economic growth in China. Energy Economics, 97, 105194. doi:10.1016/j.eneco.2021.105194.

Li, M., & Du, W. (2021). Can Internet development improve the energy efficiency of firms: Empirical evidence from China. Energy, 237, 121590. doi:10.1016/j.energy.2021.121590.

Li, Y., Yang, X., Ran, Q., Wu, H., Irfan, M., & Ahmad, M. (2021). Energy structure, digital economy, and carbon emissions: evidence from China. Environmental Science and Pollution Research, 28(45), 64606–64629. doi:10.1007/s11356-021-15304-4.

Luo, S., Yimamu, N., Li, Y., Wu, H., Irfan, M., & Hao, Y. (2023). Digitalization and sustainable development: How could digital economy development improve green innovation in China? Business Strategy and the Environment, 32(4), 1847–1871. doi:10.1002/bse.3223.

Song, M., Zhu, S., Wang, J., & Zhao, J. (2020). Share green growth: Regional evaluation of green output performance in China. International Journal of Production Economics, 219, 152–163. doi:10.1016/j.ijpe.2019.05.012.

Pan, W., Xie, T., Wang, Z., & Ma, L. (2022). Digital economy: An innovation driver for total factor productivity. Journal of Business Research, 139, 303–311. doi:10.1016/j.jbusres.2021.09.061.

Ran, R., Wang, X., Wang, T., & Hua, L. (2023). The impact of the digital economy on the servitization of industrial structures: the moderating effect of human capital. Data Science and Management, 6(3), 174–182. doi:10.1016/j.dsm.2023.06.003.

Sturgeon, T. J. (2021). Upgrading strategies for the digital economy. Global Strategy Journal, 11(1), 34–57. doi:10.1002/gsj.1364.

Sun, Y., Ding, W., Yang, Z., Yang, G., & Du, J. (2020). Measuring China’s regional inclusive green growth. Science of the Total Environment, 713, 136367. doi:10.1016/j.scitotenv.2019.136367.

Tranos, E., Kitsos, T., & Ortega-Argilés, R. (2021). Digital economy in the UK: regional productivity effects of early adoption. Regional Studies, 55(12), 1924–1938. doi:10.1080/00343404.2020.1826420.

Danish, & Ulucak, R. (2021). Renewable energy, technological innovation and the environment: A novel dynamic auto-regressive distributive lag simulation. Renewable and Sustainable Energy Reviews, 150, 111433. doi:10.1016/j.rser.2021.111433.

Usman, A., Ozturk, I., Hassan, A., Maria Zafar, S., & Ullah, S. (2021). The effect of ICT on energy consumption and economic growth in South Asian economies: An empirical analysis. Telematics and Informatics, 58, 101537. doi:10.1016/j.tele.2020.101537.

Wang, L., Chen, Y., Ramsey, T. S., & Hewings, G. J. D. (2021). Will researching digital technology really empower green development? Technology in Society, 66, 101638. doi:10.1016/j.techsoc.2021.101638.

Xiao, Y., Wu, S., Liu, Z. Q., & Lin, H. J. (2023). Digital economy and green development: Empirical evidence from China’s cities. Frontiers in Environmental Science, 11, 1–18. doi:10.3389/fenvs.2023.1124680.

Xin, C., Fan, S., Mbanyele, W., & Shahbaz, M. (2023). Towards inclusive green growth: does digital economy matter? Environmental Science and Pollution Research, 30(27), 70348–70370. doi:10.1007/s11356-023-27357-8.

Yuan, H., Feng, Y., Lee, J., Liu, H., & Li, R. (2020). The spatial threshold effect and its regional boundary of financial agglomeration on green development: A case study in China. Journal of Cleaner Production, 244, 118670. doi:10.1016/j.jclepro.2019.118670.

Yuan, S., Musibau, H. O., Genç, S. Y., Shaheen, R., Ameen, A., & Tan, Z. (2021). Digitalization of economy is the key factor behind fourth industrial revolution: How G7 countries are overcoming with the financing issues? Technological Forecasting and Social Change, 165, 120533. doi:10.1016/j.techfore.2020.120533.

Zhang, J., Lyu, Y., Li, Y., & Geng, Y. (2022). Digital economy: An innovation driving factor for low-carbon development. Environmental Impact Assessment Review, 96, 106821. doi:10.1016/j.eiar.2022.106821.

Zhang, X. (2021). Broadband and economic growth in China: An empirical study during the COVID-19 pandemic period. Telematics and Informatics, 58, 101533. doi:10.1016/j.tele.2020.101533.

Zhao, J., & Zhou, N. (2021). Impact of human health on economic growth under the constraint of environment pollution. Technological Forecasting and Social Change, 169, 120828. doi:10.1016/j.techfore.2021.120828.

Zhao, K., Zhang, R., Liu, H., Wang, G., & Sun, X. (2021). Resource endowment, industrial structure, and green development of the yellow river basin. Sustainability (Switzerland), 13(8), 1–18. doi:10.3390/su13084530.

Zhong, R., He, Q., & Qi, Y. (2022). Digital Economy, Agricultural Technological Progress, and Agricultural Carbon Intensity: Evidence from China. International Journal of Environmental Research and Public Health, 19(11), 6488. doi:10.3390/ijerph19116488.

Hair, J., Anderson, R., Tatham, R., Black, W. (2018). Multivariate data analysis. Prentice-Hall, Upper Saddle River, United States.


Full Text: PDF

DOI: 10.28991/ESJ-2024-08-04-022

Refbacks

  • There are currently no refbacks.


Copyright (c) 2024 Tam Phan Thanh