Abstract
The information industry leads the digital revolution and innovation. With regards to what economic impact the development of the industry will bring about, there has been minimal focus from literature. This paper fills the knowledge gap by using a dynamic computable general equilibrium model. The results show the development will rapidly promote economic development and social welfare, promote the reduction of commodity prices and the rise of output by providing higher social productivity. Finance, public service, and some traditional industry (such as electricity) will benefit more when the information industry develops rapidly. At present, the industry development of the information industry is more directed at the service industry and final consumption. This paper implies the information industry can strengthen R&D investment towards supporting finance, public services and traditional industries, such as industrial control embedded software products, cloud computing technology, and emergency communication for traditional industries to increase the income.
Highlights
Enterprise decision-making comes from industry development, and industry development depends on enterprise decision-making (Ferreira et al 2016; Gonçalves et al 2019)
We found that the development of information industry will rapidly promote economic development
Combined with the previous analysis, we found finance, public service, electricity production are sensitive to the development of information industry
Summary
Enterprise decision-making comes from industry development, and industry development depends on enterprise decision-making (Ferreira et al 2016; Gonçalves et al 2019). The arrival of the era of big data has given research value to digital and information. Production and service models based on information and network are expanding the scope and form of creating and utilizing the information by human, promoting the traditional industries switch towards intelligence, informationization and digitization (Angelovska 2016). The development of today’s society is increasingly inseparable from digital technology and information services (Gallipoli and Makridis 2018). Automation and intelligence gradually penetrated from the tertiary industry to the secondary industry and the primary industry (Zhang et al 2017). Information technologies have been used in various industries, such as the green information technologies (Przychodzen, Gómez-Bezares, and Przychodzen 2018), the applying in tourism
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