This paper introduces data elements into the neoclassical general equilibrium model and the new structural general equilibrium model respectively, and studies the choice of economic growth path of developing countries under the two analysis frameworks. Copyright 2023 - IvyPanda is operated by, Neo-Classical Economics and Ecological Economics, Joseph Schumpeter: His Life and Work in Economic Theory, The Result of Western Capitalism Fueling Communism, Orange Juice's Supply & Demand and Price Ceiling, Supply-Demand Management Issues and Recommendations, Abu Dhabi National Energy Company's Supply & Demand, Economics: Supply & Demand in Prisoner-of-War Camps, How Romantic Art Differs From Neo-Classical Art, Neoclassical Economy Versus Political Economy, Post-keynesian and Austrian Criticisms of the Standard Neoclassical View of Competition, Individualism and Collectivism in Agreement-Making, Wall Street and Wizard of Oz Movies: Economic Concepts, Political Realism in Light of Marxism and Idealism. (2022) established a general equilibrium analysis framework incorporating data elements based on the generalized value theory. Data capital and economic growth path. The growth will allow for expanding the production of goods and services. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU. The neoclassical growth model is the mainstream method, However, it has shortcomings in setting the production structure and in explaining the economic growth of developing countries. This not only left huge numbers of borrowers unable to afford their homes, but it also undermined the stability of the banks and lenders who had backed their mortgages. Wang, Dexiang. Based on the C-D production function, Solow (1957) analyses the source of economic growth. (2021) introduced data elements into the three sectors general equilibrium model on the basis of Acemoglu et al. This theory is substantiated and was found to be valid in microeconomics. "Neo-Classical Economics and Ecological Economics." What are the similarities or comparisons between classical economics and neoclassical economics? "Neo-Classical Economics and Ecological Economics." With the development of digital economy, the economic growth path of developing countries is also changing. How does Marxism differ from Keynesian economic systems? Acemoglu, D., A. Makhdoumi, A. Malekian, et al. One important implication of this discussion on the impact of data elements on economic is that digitalization featured with big data can be a great opportunity for the late comer economies to converge with the rich industrialized nations. 2022. The quantitative and qualitative reasoning on the allocation, distribution, distribution, and production of economic resources. 2023 Springer Nature Switzerland AG. 240-269. Answer (1 of 4): The key difference between classical and neoclassical theory is that the classical theory assumes that a worker's satisfaction is based only on physical and economic needs, whereas the neoclassical theory considers not only physical and economic needs, but also the job satisfacti. From the above equilibrium results, we get proposition 4. The core basis of this study is the general equilibrium model of new classical economics and new structural economics. When t>0 (or gd>0), because gd (or t) and 1* t are both greater than zero, \(g_{y}^{{{\text{NEGEYES}}}} > g_{y}^{{{\text{NEGENO}}}}\), that is, the economic growth rate brought about by the introduction of data elements is higher than the economic growth rate without the introduction. The forces of supply and demand create market equilibrium. 2022. This makes it difficult to estimate the capital stock and scale of data elements and calibrate them according to real data. (1) Before introducing data elements: based on the general equilibrium analysis framework of new classical economics, developing countries will choose to increase the rate of technological progress, because the share of capital output is stable for a long time. Increasing returns and long-run growth. This paper broadens the application scope of the general equilibrium of new classical and new structural economics. What are the basic assumptions of the classical and new classical macroeconomics schools? When data elements are not introduced, it can be obtained from Eqs. Nonrivalry and the economics of data. The. The result of this synthesis was the neoclassical synthesis, which has dominated economic reasoning ever since. The results suggest that there are some considerable advantages in using the new structural economics general equilibrium model as compared to the traditional neoclassical model. Excessive dependency on mathematical approaches : Neoclassical economics has been criticised for its excessive reliance on mathematical techniques. Further and more problematic is the fact that the current system of national accounts (SNA2008) does not specifically study the accounting of data elements or data assets. Furthermore, the motion equation \(\dot{\alpha }_{t} = \left\{ {_{{}} [g_{k} - g_{A} - g_{\beta } (\eta_{b\beta } - 1) - \beta_{t} g_{d} ]\alpha_{t} - g_{k} \alpha_{t}^{2} } \right\}/(1 - \alpha_{t} )\) of production function on c=0 locus is globally convergent at \({\dot{\alpha }}_{t}=0\). It emerged in around 1900 to compete with the earlier theories of classical economics. (10) and (11). Equilibrium occurs in classical economics when savings equal investment. The Quarterly Journal of Economics, vol. the capital per person growth rate is defined in Eq. However, consumer spending on goods and services and company investment are considered the most important ways to generate economic activity. Governments and banks can also follow neoclassical principles, which will impact economic policy and market regulation. Moreover, the two theories conclude that people keep a certain proportion of disposable income for future consumption without paying much attention to the decline in the value of money. We used several novel methods, including indifference curves and marginal revenue curves. Therefore, when considering the introduction of biased technological change, developing countries will be more likely to choose policy propositions based on the new structural economics, and the advantages of the new structural economics analysis framework will also be expanded. Keynesian economics suggests governments need to use fiscal policy, especially in a recession. Macroeconomics (09): 5163+105. As a matter of fact, in a number of cases where there is a high economic per capita consumption, there is a possibility that the environment is swiftly affected and could have a long term implication on the well being of the society. What specific theory has made a made a. Journal of Economic Dynamics and Control. Although a subject central to the study of politics and history, researchers in this field had previously to compete for publication space in journals whose intellectual centres of gravity were located in other disciplines. In the era of agricultural economy, the most important factors of production were land and labor; After the industrial revolution, it became capital; At the beginning of the 20th century, entrepreneurship was emphasized; In the third industrial revolution, it became technology; In the era of digital economy, the key factor of production is data. Neoclassical economics theories underlie modern-day economics, along with the tenets of Keynesian economics. Thus, the benchmark analytical framework of modern economic growth theory is described as the Ramsey-Cass-Koopmans (RCK) model. Neoclassical economics is a comprehensive approach that uses supply and demand to describe the production, pricing, consumption, and distribution of products and services. What are some of the contributions of classical macroeconomics? The movement from classical to neoclassical economic theory grew from the work of William Stanley Jevons,Carl Menger, andLon Walras in the late 1800s. Some new tools, such as indifference curves and marginal revenue curves, were used. Utility measures the satisfaction received by consuming goods and services. The neoclassical theory attempts to establish a balance amongst various economic agents in a free market. What are the differences between Mercantilism and Keynesian economics besides global trade? Compare the assumptions, and views about market stability, government interventions, and AS curves. Consumers are Rational Agents : According to Neoclassical economics, customers are rational agents that purchase items based on their usefulness. IvyPanda. It led to dominated mainstream economics as Neo-Keynesian economics. With closer and well-meaning thought over both the system of economics, it is seen that the rationality is clearer with ecological economics. Keynesians argue for the promotion and subsequent implementation of economic policies involving government intervention in the economy. Both emphasize different issues, different motivation of the major actors and make other assumptions to . It analyzes the impact of the number of input factors and the output share of input factors on economic growth under neutral technological progress conditions. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. This study finds that: (1)No matter what kind of general equilibrium corresponding economic growth path the developing countries choose, the economic growth rate after the introduction of data elements will always be higher than before. Innovation and growth in the global economy. While neoclassical economics focuses on the valuation of the utility and the supply-demand market scenarios, ecological economics identifies itself with the environment and tries to identify the growth of the person with the overall sustainable development of the society. Neoclassical economic theory believes that markets will naturally restore themselves. Please include source. The economics should also add as a capital asset these resources since they also form a part of the economic development (Robert Costanza, et al 1997). "Financial Crisis Inquiry Commission: The Financial Crisis Inquiry Report, 2011," Pages 148-149. If data elements are introduced, they will be transferred to \(g_{y}^{{{\text{NSEGEYES}}}}\), or some special cases thereof: \(g_{y}^{{{\text{NSEGENO}}}}\) or \(g_{y}^{{{\text{NEGEYES}}}}\) or \(g_{y}^{{{\text{NEGENO}}}}\). This type of thinking was evident in the lead-up to the 2008 financial crisis. (2) After the introduction of data elements: based on the general equilibrium analysis framework of new classical economics, developing countries will choose to improve the rate of technological progress and the rate of data elements accumulation. https://doi.org/10.1007/s44265-023-00007-0, DOI: https://doi.org/10.1007/s44265-023-00007-0. Smith maintained that a nation's wealth is determined not by the gold in its monarch's coffers but by its national revenue. , Jecinta Morgan , Leave a comment. Classical economics and neoclassical economics are both schools of thoughts that have different approaches to defining economics. As mentioned above, both general equilibrium analysis frameworks assume neutral technological progress. Based on the idea of Acemoglu (2003), this paper attempts to discuss the change trend in the future regarding economic growth and technical change. Government Printing Office. Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Cryptocurrency & Digital Assets Specialization (CDA), Business Intelligence Analyst Specialization, Financial Planning & Wealth Management Professional (FPWM). This asset would include such things as naturally available water, human capital, natural resources and others. On this basis, Cong et al. Journal of Monetary Economics 22: 342. Neoclassical economics and classical economics are two very different schools of thought that describe economic concepts in vastly different ways than one another. Therefore, based on these assumptions, it was possible to explain many of the behaviours of the economic cycles (Roy Weintraub 2002). What policies are suggested by each of the theories that might be successful in spurring growth in a metropolitan area? The household sector pursues the maximization of utility, obtains income by selling various elements it owns and uses them for consumption. The primary philosophers are Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Roberto Malthus, and John Stuart Mill. Additionally, free markets provide customers with more options. What are the similarities between the 'old' traditional economy and the 'new' network economy? (22). Profit, in classical economics, is a remuneration paid to a capitalist for performing a socially beneficial function. Explain how classical and Keynesian macro views differ. The capital per person growth rate is shown in Eq. Whether after introducing the data elements will still support the general argument of the new structural economics model still remains to be verified, this is why this study introduces digital development comprising primarily the data elements to redefine the general equilibria of both the new classical economics and the new structural economics. What is a simple comparison between Smith's, Ricardo's, and Keynes' economic theories? The data elements defined in this paper are the essential data using information communication technology and modern information network as the carrier. The new tools aid in the sophistication of its mathematical approaches, hence fostering the growth of neoclassical economics. On the one hand, this phenomenon is caused by the fact that under the assumption of neutral technological progress, the technical efficiency of different factor inputs is not considered. After the introduction of data elements, the family behavior in the general equilibrium model of new structural economics is still the same as that in the general equilibrium of new classical economics, as shown in Eqs. Proposition 1 When there is no data element, an increase in the technological progress rate or the share of capital output will lead to an increase in the output growth rate. (2021, September 16). Compare and contrast classical economics and Keynesian economics. Compare and contrast the classical theory and the new growth theory of economic growth. Li and Wang (2021) and Wang (2022) both built a data elements indicator system to verify the relationship between the development level of data elements and the development level of manufacturing industry. a. 1972. Keynesian economic theory does not believe markets can adjust naturally to these changes. According to the comparison, the equilibrium state transition path is:(1) Under NEGE, considering that the share of input elements remains stable for a long time, it can be transferred to state \(g_{y}^{{{\text{NEGEYES}}}}\) or its special case \({g}_{y}^{\text{NEGENO}}\). 2020. On the concept of optimal economic growth. What is the major difference between the classical model and the Keynesian model? Yang, Yan, Li Wang, and Zujun Liao. (1)(2) and (6)(8) that the economic growth rate of a country is related to the relative size of technological progress and production structure. The market clearing condition is defined in Eq. Cong, L.W., D. Xie, and L. Zhang. Distinguish between a neoclassical and a Keynesian economist. Cambridge: MIT Press. Jia, W., Collins, A. This item is part of a JSTOR Collection. (2021) considered the characteristics of endogenous consumption of data elements and the dynamic noncompetitive characteristics of data in the general equilibrium model composed of consumers, final product producers and intermediate product producers. What are the similarities and differences between classical and neoclassical analyses of capitalism? Both the economists and the investors were wrong, and the market for those financial instruments crashed. The impact of these two factors on the economic growth rate is also positive. The production department will minimize the cost by selecting the optimal input level Ct as shown in Eq. Digitalization and economic growth in the new classical and new structural economics perspectives, Digital Economy and Sustainable Development, $$\mathop {{\text{max}}}\limits_{{c_{t} }} U_{t} = \int_{0}^{\infty } {e^{(n - \rho )t} } u(c_{t} )dt$$, $${\dot{k}}_{t}=\left({r}_{t}-n-{\delta }_{t}\right){k}_{t}+{w}_{t}-{c}_{t}\,\mathrm{and}\,{k}_{t+1}={i}_{t}+\left(1-{\delta }_{t}-n\right){k}_{t}$$, $${\text{max}}\pi_{t} = pY_{t} - r_{t} K_{t} - w_{t} L_{t}$$, $$A_{t} K_{t}^{\alpha } L_{t}^{1 - \alpha } \le Y_{t}$$, $$\dot{g}_{c} = 0\;{\text{and}}\;\dot{g}_{k} = 0$$, $$\min C_{t} = r_{t} K_{t} + w_{t} L_{t}$$, $$A_{t} K_{t}^{{\alpha_{t} }} L_{t}^{{1 - \alpha_{t} }} \ge Y_{t}$$, $$\dot{g}_{c} = 0\;{\text{and}}\;\dot{g}_{k} = 0,\;\dot{\alpha }_{t} = 0$$, $$\dot{k}_{t} = \left( {r_{t} - n - \delta_{t} } \right)k_{t} + w_{t} + b_{t} d_{t} - c_{t} \;{\text{and}}\;k_{t + 1} = i_{t} + \left( {1 - \delta_{t} - n} \right)k_{t}$$, \(r_{t} K_{t} + w_{t} L_{t} \le r_{t} K_{t} + w_{t} L_{t} + b_{t} D_{t}\), $$\max \pi_{t} = pY_{t} - r_{t} K_{t} - w_{t} L_{t} - b_{t} D_{t}$$, $${A}_{t}{K}_{t}^{\alpha }{L}_{t}^{1-\alpha -\beta }{D}_{t}^{\beta }\le {Y}_{t}$$, $$\min C_{t} = r_{t} K_{t} + w_{t} L_{t} + b_{t} D_{t}$$, $$A_{t} K_{t}^{{\alpha_{t} }} L_{t}^{{1 - \alpha_{t} - \beta_{t} }} D_{t}^{{\beta_{t} }} \ge Y_{t}$$, $$g_{c} = \frac{{\dot{c}_{t} }}{{c_{t} }} = \frac{{\alpha A_{t} k_{t}^{\alpha - 1} - \delta_{t} - \rho }}{\sigma }$$, \({K}_{t}^{D}=\left({Y}_{t}/{A}_{t}\right){\left\{\left[{r}_{t}\left(1-\alpha \right)\right]/{w}_{t}\alpha \right\}}^{\left(\alpha -1\right)}\), \({L}_{t}^{D}=\left({Y}_{t}/{A}_{t}\right){\left\{\left[{r}_{t}\left(1-\alpha \right)\right]/{w}_{t}\alpha \right\}}^{\alpha }\), \(g_{w} = \dot{w}_{t} /w_{t} = g_{A} + \alpha g_{k}\), \(g_{r} = \dot{r}/r = g_{A} - (1 - \alpha )g_{k}\), $${g}_{k}=\frac{{\dot{k}}_{t}}{{k}_{t}}={A}_{t}{k}_{t}^{\alpha -1}-n-{\delta }_{t}-\frac{{c}_{t}}{{k}_{t}}$$, $${g}_{y}^{*}={g}_{c}^{*}={g}_{k}^{*}=\frac{{g}_{A}}{\text{1} - {\alpha }^{*}}$$, \(\partial {g}_{y}^{*}/\partial {g}_{A}=1/(\text{1} - {\alpha }^{*})>0\), \(\partial {g}_{y}^{*}/\partial {\alpha }^{*}={g}_{A}/{(\text{1} - {\alpha }^{*})}^{2}>0\), $$g_{c} = \frac{{\dot{c}_{t} }}{{c_{t} }} = \frac{{\alpha A_{t} k_{t}^{\alpha - 1} d_{t}^{\beta } - \delta_{t} - \rho }}{\sigma }$$, \(K_{t}^{D} = (Y_{t} /A_{t} )(r_{t} /\alpha )^{\alpha - 1} (b_{t} /\beta )^{\beta } [(1 - \alpha - \beta )/w_{t} ]^{\alpha + \beta - 1}\), \(L_{t}^{D} = (Y_{t} /A_{t} )(r_{t} /\alpha )^{\alpha } (b_{t} /\beta )^{\beta } [(1 - \alpha - \beta )/w_{t} ]^{\alpha + \beta }\), \(D_{t}^{D} = (Y_{t} /A_{t} )(r_{t} /\alpha )^{\alpha } (b_{t} /\beta )^{\beta - 1} [(1 - \alpha - \beta )/w_{t} ]^{\alpha + \beta - 1}\), \(g_{w} = \dot{w}_{t} /w_{t} = g_{A} + \alpha g_{k} + \beta g_{d}\), \(g_{r} = \dot{r}/r = g_{A} - (1 - \alpha )g_{k} + \beta g_{d}\), \(g_{b} = \dot{b}_{t} /b_{t} = g_{A} + \alpha g_{k} - (1 - \beta )g_{d}\), $$g_{k} = \frac{{\dot{k}_{t} }}{{k_{t} }} = A_{t} k_{t}^{\alpha - 1} d_{t}^{\beta } - n - \delta {}_{t} - \frac{{c_{t} }}{{k_{t} }}$$, $$g_{y}^{ * } = g_{c}^{ * } = g_{k}^{ * } = \frac{{g_{A} + \beta^{ * } g_{d} }}{{{1 - }\alpha^{ * } }}$$, \(\partial {g}_{y}^{*}/\partial {g}_{d}={\beta }^{*}/(\text{1} - {\alpha }^{*})>0\), \(\partial {g}_{y}^{*}/\partial {\beta }^{*}={g}_{d}/(\text{1} - {\alpha }^{*})>0\), $$g_{c} = \frac{{\dot{c}_{t} }}{{c_{t} }} = \frac{{\alpha_{t} A_{t} k_{t}^{{\alpha_{t} - 1}} - \delta_{t} - \rho }}{\sigma }$$, \(K_{t}^{D} = (Y_{t} /A_{t} )\left\{ {[r_{t} (1 - \alpha_{t} )]/w_{t} \alpha_{t} } \right\}^{{(\alpha_{t} - 1)}}\), \({L}_{t}^{D}=({Y}_{t}/{A}_{t}){\left\{[{r}_{t}(1-{\alpha }_{t})]/{w}_{t}{\alpha }_{t}\right\}}^{{\alpha }_{t}}\), \(\begin{gathered} g_{w} = \dot{w}_{t} /w_{t} = g_{A} + \alpha_{t} g_{k} + \left[ {1 + \alpha_{t} \ln k_{t} - 1/\left( {1 - \alpha_{t} } \right)} \right]g_{\alpha } ,\; \hfill \\ g_{r} = \dot{r}/r = g_{A} - \left( {1 - \alpha_{t} } \right)g_{k} + \left( {1 + \alpha_{t} \ln k_{t} } \right)g_{\alpha } , \hfill \\ \end{gathered}\), $$g_{k} = \frac{{\dot{k}_{t} }}{{k_{t} }} = A_{t} k_{t}^{{\alpha_{t} - 1}} - n - \delta_{t} - \frac{{c_{t} }}{{k_{t} }}$$, \(\dot{\alpha }_{t} = \left( {g_{k} - g_{A} - g_{k} \alpha_{t} } \right)\;\alpha_{t} /\left( {1 + \alpha_{t} \ln k_{t} } \right)\), $${g}_{y}^{*}={g}_{c}^{*}={g}_{k}^{*}=\frac{{g}_{A}}{1-{\alpha }_{t}^{*}}\,\mathrm{and}\,{\alpha }_{t}^{*}=1-\frac{{g}_{A}}{{g}_{k}^{*}}$$, \(\partial g_{y}^{ * } /\partial g_{A} = 1/({1 - }\alpha_{t}^{ * } ) > 0\), \(\partial g_{y}^{ * } /\partial \alpha_{t}^{ * } = g_{A} /{(1 - }\alpha_{t}^{ * } )^{2} > 0\), $${g}_{c}=\frac{{\dot{c}}_{t}}{{c}_{t}}=\frac{{\alpha }_{t}{A}_{t}{k}_{t}^{{\alpha }_{t}-1}{d}_{t}^{{\beta }_{t}}-{\delta }_{t}-\rho }{\sigma }$$, \(K_{t}^{D} = (Y_{t} /A_{t} )(r_{t} /\alpha_{t} )^{{\alpha_{t} - 1}} (b_{t} /\beta_{t} )^{{\beta_{t} }} [(1 - \alpha_{t} - \beta_{t} )/w_{t} ]^{{\alpha_{t} + \beta_{t} - 1}}\), \(L_{t}^{D} = (Y_{t} /A_{t} )(r_{t} /\alpha_{t} )^{{\alpha_{t} }} (b_{t} /\beta_{t} )^{{\beta_{t} }} [(1 - \alpha_{t} - \beta_{t} )/w_{t} ]^{{\alpha_{t} + \beta_{t} }}\), \(D_{t}^{D} = (Y_{t} /A_{t} )(r_{t} /\alpha_{t} )^{{\alpha_{t} }} (b_{t} /\beta_{t} )^{{\beta_{t} - 1}} [(1 - \alpha_{t} - \beta_{t} )/w_{t} ]^{{\alpha_{t} + \beta_{t} - 1}}\), $$\begin{gathered} g_{w} = \dot{w}_{t} /w_{t} = g_{A} + \alpha_{t} g_{k} + \left[ {1 + \alpha_{t} \ln k_{t} - \left( {1 - \beta_{t} } \right)/\left( {1 - \alpha_{t} - \beta_{t} } \right)} \right]g_{\alpha } + \alpha_{t} g_{k} + \left[ {1 + \beta_{t} \ln d_{t} - \left( {1 - \alpha_{t} } \right)/\left( {1 - \alpha_{t} - \beta_{t} } \right)} \right]g_{\beta } ,\; \hfill \\ g_{r} = \dot{r}/r = g_{A} - \left( {1 - \alpha_{t} } \right)g_{k} + \left( {1 + \alpha_{t} \ln k_{t} } \right)g_{\alpha } + \beta_{t} g_{d} + \beta_{t} \ln d_{t} g_{\beta } , \hfill \\ g_{b} = \dot{b}_{t} /b_{t} = g_{A} + \alpha_{t} g_{k} + \alpha_{t} \ln k_{t} g_{\alpha } - \left( {1 - \beta_{t} } \right)g_{d} + \left( {1 + \beta_{t} \ln d_{t} } \right)g_{\beta } , \hfill \\ \end{gathered}$$, $$g_{k} = \frac{{\dot{k}_{t} }}{{k_{t} }} = A_{t} k_{t}^{{\alpha_{t} - 1}} d_{t}^{{\beta_{t} }} - n - \frac{{c_{t} }}{{k_{t} }}$$, \(\dot{\alpha }_{t} = \left\{ {_{{}} [g_{k} - g_{A} - g_{\beta } (\eta_{b\beta } - 1) - \beta_{t} g_{d} ]\alpha_{t} - g_{k} \alpha_{t}^{2} } \right\}/(1 - \alpha_{t} )\), $$g_{y}^{*} = g_{c}^{*} = g_{k}^{*} = \frac{{g_{A} + \beta_{t}^{*} g_{d} }}{{1 - \alpha_{t}^{*} }}\;{\text{and}}\;\alpha_{t}^{*} = \frac{{g_{k} - g_{A} - \beta_{t}^{*} g_{d} }}{{g_{k} }}$$, \(\partial {g}_{y}^{*}/\partial {g}_{A}=1/(\text{1} - {\alpha }_{t}^{*})>0\), \(\partial {g}_{y}^{*}/\partial {\alpha }_{t}^{*}={g}_{A}/{\text{(1-}{\alpha }_{t}^{*})}^{2}>0\), \(\partial {g}_{y}^{*}/\partial {g}_{d}={\beta }_{t}^{*}/(\text{1} - {\alpha }_{t}^{*})>0\), \(\partial {g}_{y}^{*}/\partial {\beta }_{t}^{*}={g}_{d}/(\text{1} - {\alpha }_{t}^{*})>0\), \({g}_{y}^{\text{NEGEYES}}>{g}_{y}^{\text{NEGENO}}\), \(g_{y}^{{{\text{NEGEYES}}}} > g_{y}^{{{\text{NEGENO}}}}\), https://doi.org/10.1007/s44265-023-00007-0, A systemic perspective on socioeconomic transformation in the digital age, On the Choice of Mathematical Models for Describing the Dynamics of Digital Economy, Rethinking Russian Digital Economy Development Under Sunctions, The Quality of Growth and Digitalization in the Eurasian Integration Countries: An Econometric Analysis, Do digital governments foster economic growth in the developing world?
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