Information Economy in Asian Countries

Abstract

Abstract Purpose The purpose of this chapter is to study the essence and specifics of the process of establishment and development of information economy in Asian countries and to create its conceptual model. Methodology The process of establishment and development of information economy is studied based on the indicators that were systematized according to the basic elements of information economy. The indicators of technosphere (technological support) are the information and communication technologies (ICT) development index according to the International Telecommunication Union and labor efficiency in the ICT spheres according to the OECD. The indicators of sociosphere (social core) are the Internet level of society according to the World Wide Web Foundation and employment of specialists in the ICT spheres according to the OECD. The indicators of economic sphere (economic pinnacle) are added value of the ICT spheres and contribution of investments to the ICT in the growth of GDP according to the OECD, as well as the Index of Digital Economy according to digital single market. The indicators of the target result (efficiency of information economy) are expenditures for innovations in the spheres of the ICT according to the OECD, share of high-tech export according to the World Bank, and the index of innovational development according to the INSEAD, WIPO, and Cornell University. The research is performed by the leading countries (as per the socio-economic development index) of the Asian regions – China, South Korea, and Japan – on global economic system (according to 2017 data). Results The authors concluded that the leading countries of Asia made progress in information economy’s formation, and the process in these countries has been unique, but common peculiarities allowed defining the Asian model of information economy. Recommendations It is recommended to use the offered conceptual model for studying the process of information economy’s formation in Asian countries and its comparison with the process in other regions of the world.