Economia Aziendale Online – Business and Management Sciences International Quarterly Review

Vol. 11.2/2020:191-198 - DOI: 10.13132/2038-5498/11.2.191-198

Supporting Digitalization: Key Goal

for National Competitiveness
in Digital Global Economy
Eka Sepashvili ABSTRACT

Associate professor Creating a modern competitive economy and achieving irreversible

economic growth is hardly possible without the realization of an
Faculty of Economics and innovation-based approach. In the 21st century, the leading role for the
Business long-term growth of the national economy lies in new, revolutionary
Tbilisi State University technologies capable to formulate and support the long-term economic
Georgia growth and social welfare. Innovative development and science-based
growth is incredible without digital technological development and
transformation. Digital technologies affect development and
introduction of innovation in several ways. In contemporary global
economy digital technologies gaining speed to be incorporated in
Corresponding Author: every spare of our lives over the globe. These processes entail
Eka Sepashvili continuous evolution of business models, which eventually are
Tbilisi State University, Georgia becoming more and more digitalized. The given paper analyzes one of
Faculty of Economics and Business. the main factors that supports such kind of development, namely the
development of physical infrastructures that is heavily relies on
Ilia Chavchavadze Avenue, Tbilisi
government efforts to develop and creates basics for private business
0179 - Georgia to further advance digitalization.
Email: eka.sepashvili@tsu.ge
Senza la realizzazione di un approccio basato sull'innovazione, è quasi
impossibile creare un'economia competitiva moderna e raggiungere
una crescita economica irreversibile. Nel 21 ° secolo, il ruolo guida per
la crescita a lungo termine dell'economia nazionale risiede nelle nuove
tecnologie rivoluzionarie in grado di formulare e sostenere la crescita
economica nel lungo periodo e il benessere sociale. L’espansione delle
tecnologie innovative e la crescita basata sulla scienza non sono
immaginabili senza sviluppo, innovazione e trasformazione delle
tecnologie digitali che influenzano lo sviluppo in diversi modi.
Nell'economia globale contemporanea le tecnologie digitali acquistano
velocità in quanto sono incorporate in ogni aspetto della nostra vita, in
Cite as: tutto il mondo. Questo processo comporta una continua evoluzione dei
Sepashvili, E. (2020). Supporting modelli di business, che stanno diventando anch’essi sempre più
Digitalization: Key Goal for digitalizzati. Questo studio analizza uno dei principali fattori a
supporto di questo tipo di sviluppo, vale a dire l’espansione di
National Competitiveness in
infrastrutture fisiche che derivano fortemente dagli sforzi per lo
Digital Global Economy. sviluppo fatti dal governo che creano le basi, per le imprese private,
Economia Aziendale Online, 11(2), per far avanzare ulteriormente il processo di digitalizzazione.
191-198.

Keywords: digitalization, innovative growth, international

competition

1 – Introduction
Section: Refereed Paper Creating a modern competitive economy and achieving
irreversible economic growth is hardly possible without the
Received: February, 2020 realization of an innovation-based approach. To do this, first
Published: 10/07/2020 of all, it is necessary to form a national innovation system
 Sepashvili
192 Supporting Digitalization: Key Goal for National Competitiveness in Digital Global Economy

tailored to the country's social, economic, political and cultural characteristics. In the 21st
century, the leading role for the long-term growth of the national economy lies in new,
revolutionary technologies capable to formulate and support the long-term economic growth
and social welfare. Innovation not only helps to create new firms and sectors, but also
rejuvenates traditional firms and sectors, thereby accelerating economic growth.
Innovative development and science-based growth is incredible without digital
technological development and transformation. Digital technologies affect development and
introduction of innovation in several ways. Digital technologies expanded research methods
and tools through more accurate implication of larger amounts of data and wider participation
of researchers based on distance cooperation. Due to the Digital technologies new products and
services were invented as well as old products and services gain new, digital dimension and
thus, gain additional quality and cost advantages (Mella, 2019). At the same time, digital
technologies make easier market integration through significant reducing communication costs
and increasing matching efficiency, which in its turn increases competitive advantage of those
who use these novelties. They support to reduce entry barriers by offering online services, like
globally accessible cloud computing and online marketing platforms to small- and medium-
sized enterprises and start-ups due to a significant reduction of the fixed costs of running a
business both in internal markets and foreign markets. Big data equip firms with the
opportunity to target products, so they more closely align with consumer preferences grounded
on more accurate information about the latter.

2 – Research Methodology
In the paper from the very beginning the issue that is analyzed is identified: the digitalization
process is gaining speed and 4th scientific revolution changes our everyday lives. What is the
role of state policy that should be implemented by policy-makers in order to support and
facilitate this process is the main question on economic agenda of national policies. The main
factor that needs public funding is the development of physical infrastructure, regulatory
framework and other related aspects where the government plays key role. The literature
review discusses the benefits of digital technologies and importance of their use for both
consumers and business and emphasizes their importance for small and medium business
development and social gains. E-banking and e-signature are defined as key tolls performing
digital operations in business. The Global Information Technology Report is used to estimate
and make comparison among states in their readiness to use digital technologies, namely the
factors that drives the information and communication technologies enabling businesses to gain
greater benefits which it its turn is transformed into greater level of welfare - a task that any
national policy is aiming at.

3 – Purpose
In contemporary global economy digital technologies gaining speed to be incorporated in every
spare of our lives over the globe. Digitalization speed continues to gain higher and higher speed.
Against the constant development of the information technologies, more and more business
processes, products, goods, and services are impacted by innovations and digital technologies.
These process entails continuous evolution of business models, which eventually are becoming
more and more digitalized. The purpose of the given paper is to analyze one of the main factors
that supports such kind of development, namely the development of physical infrastructures
that is heavily relies on government efforts to develop and creates basics for private business to
further advance digitalization.
Sepashvili
Supporting Digitalization: Key Goal for National Competitiveness in Digital Global Economy 193

4 – Literature review
The digital economy is an important part of the Fourth Industrial Revolution. It is directly
related to the development of digital computer technology, which includes online services,
electronic payments, internet commerce, internet advertising, internet gaming and est. Nicolas
Negroponte, a scientist at the University of Massachusetts, named an economy based on digital
technologies as “digital economy” (Negroponte 1995:7). By this term, he emphasized the
advantage of digital economy that is heavily based on intensive development of digital and ICTs
over the traditional ones.
Digital technologies significantly improve the efficiency of economy through dramatically
reduction of the cost of business operations and transactions. Production processes are
determined by the combination of technology and devices along the whole value chain.
Information and data rule engines are often strengthening the decision-making process of the
firms and making easier to manage and analyze every single aspect of business, from beginning
to end. (Mella 2012). Computer-driven systems are becoming more and more common to
monitor and conduct physical processes. Digital technologies create a virtual copy of the
physical world. Manufacturing industries easily integrate physical objects with /into the
information network, “allowing real-time adaptation in the future” (Smit et al. 2016).
Digital technologies dramatically reduce the cost of business operations and transactions,
and thus, significantly improve the efficiency of economy. Unprecedented spread of digital
enterprises entails new practice of social, mobile, analytics and cloud (SMAC) technologies to
achieve greater productivity. At the same time, unprecedented growth of digital consumers, in
its turn, boost even wider usage of SMAC technologies and thus, lead to a new era of digital
economy and digital world (Mermanisvili 2019). In contemporary global development digital
technologies force business to adapt novelties to survival in the transformed global industrial
space against the tough international competition (Lekashvili 2019, Sepashvili 2019).
In this new reality, the government's primary goal - to increase the level of prosperity in the
country - is directly linked to the promotion of science-based economics. Increasing prosperity
implies increasing the efficiency of resources, ie labor and capital. Under the current conditions
of science and technology development, resource efficiency is enhanced by innovations and new
technological solutions. (Sepashvili 2018). Fourth Industrial Revolution is the key issue on
modern development agenda in academic, political and economic circles (Schwab, 2016).
Success of the country in science and research significantly defines the level of national welfare
(Sepashvili 2016). However, increasing of resources, labour and capital, efficiency depends
rather on usage of knowledge and technology than on simple existing of well-equipped higher
educational institutions and/or highly skilled workers. Thus, just exiting of higher educational
system and generating researchers do not mean higher positions in R&D (Gagnidze 2018).
Therefore, supporting novelties through creating appropriate conditions and infrastructure is
key for national policy (Sepashvili 2018b).
The shift towards the digital economy, and in particular, to blockchain technologies, will
further increase employment in the business sector and facilitating the development of small
and medium-sized enterprises. By Using digital technologies, consumers get faster services, sell
and buy products online, save money in online stores, can start their own businesses online,
become an entrepreneur without leaving home (Gazzola at al., 2017). In the digital economy,
the focus is on the production of intellectual products, which is associated with high capital
expenditure. (Gogorishvili 2019).
The use of digital technologies has both benefits and risks. The benefits are called digital
dividends. These are: increasing labor productivity, increasing the competitiveness of
companies, reducing production costs, creating new jobs, reducing poverty and social
inequality, and economic growth. The suing of digital Technologies make easier access to any
 Sepashvili
194 Supporting Digitalization: Key Goal for National Competitiveness in Digital Global Economy

product and service and vcretas good basis for equal treatment (Gazzola et al. 2016). The risks
of using digital technologies are: the problem of protecting personal data, controlling their
behavior by using human data, increasing unemployment in the labor market (as the risk of
some professions and sectors disappearing) and others.

5 – Research Results
Every country is trying to keep up with the rapid development of digital technologies.
Therefore, government should support by sound economic policy, which is constantly seeking
investors, high-tech specialists who will be able to move across different industries to digital
platforms. The policy measures vary according the countries but the common for all of them is
creating appropriate and relevant legislative base and basic infrastructure. These are two main
pillars that are policy-makers’ responsibility, and which cannot be done by private sector.
One of the important aspects that support the development of digital economic
development and equip business with necessary tools to conduct digital operations, is the
digital signature. The digital signature represents an online verification of contracts or
important documents necessary to prove the validity of online transactions. To say in other
words, possibility to provide an approval or consent online when digital trade and exchange is
occurring, is key to develop e-commerce. E-signatures represent modern means to accelerate
online business processes and thus, make accounts receivable and accounts payable, as well as
close deals faster by removing transaction barriers and invoicing issues (Sepashvili 2019b).
Another important aspect that support the development of digital economy is electronic
banking. This new type of banking provides solutions to deal with new digital environment in
the economy via connecting technology and business operations and financial transactions.
Despite the fact that traditional banking models are still widely operating, they are more and
more replaced by the e-banking to face changing character of global economic development
resulted in changed needs of customers. Transforming of banking model into digital ones in its
turn entails new challenges in the fields of regulation, economic environment, physical
infrastructure, customers’ awareness and skills, technology and est. (Sepashvili 2019a).
But, to widely apply digital technologies supporting the increase of e-commerce via digital
signature and e-banking, physical infrastructure, appropriate electronic devises and relevant
skills are necessary. So no innovation leading to digital development is to occur without the
appropriate physical network infrastructure. Internet networks are connecting every person,
every country, and every device. Global networks allow data to flow without hindrance, driving
growth and enabling cooperative innovations in many fields and areas, from production to
processes and selling. Those countries that are adapt at development of physical infrastructure
enabling digital operations will continue to gain additional advantages and thus, further
develop.
Since 2001, the World Economic Forum in cooperation with INSEAD and Cornell University
publishes The Global Information Technology Report to estimate and measure these factors,
namely the drives of information and communication technologies (Baller et. al., 2016). The
index is called Networked Readiness Index (NRI). It has evolved since 2001 and currently
measures and assess the networked readiness of the 139 countries using 53 indicators. The
indicators are describe four main aspect of the country readiness for digital economy: 1. overall
environment for usage and creation of the technology covering political, regulatory, business,
and innovation factors; 2. Physical infrastructure of the network to use ICT and appropriate
skills; 3. technology adoption/usage by the government, the private sector/business, and
individuals/consumers; and 4. the economic and social impact of the new technologies.
The report emphasizes, that more and more innovation are based on digital technologies
and business models, which can initiative economic and social gains from ICTs if managed in a
Sepashvili
Supporting Digitalization: Key Goal for National Competitiveness in Digital Global Economy 195

smart way. The means and ways through which the businesses adopt ICTs is dicicive for
leveraging them for development, so supporting and encouraging businesses to fully utilize the
powers of digital technologies should be a priority for national policy actions (Sepashvili 2019).
Business and government should cooperate to accelerate and enforce efforts to invest in
innovative digital resolutions to motivation social impact. Government should play more active
role in the processes as sustainable digital economy will depend on rapidly evolving governance
regulations and relevant legislation that allow societies to trust and feel secure when facing the
numerous evidences of impact of digital technologies and respond quickly to changing
circumstances.
According the Global Information Technology Report 2016, the Network Readiness Index
(NRI) is measured through 53 indicators formulating the following 4 pillars:
1. Environment subindex
– Political and regulatory environment (9 indicators)
– Business and innovation environment (9 indicators)
2. Readiness subindex
– Infrastructure (4 indicators)
– Affordability (3 indicators)
– Skills (4 indicators)
3. Usage subindex
– Individual usage (7 indicators)
– Business usage (6 indicators)
– Government usage (3 indicators)
4. Impact subindex
– Economic impacts (4 indicators)
– Social impacts (4 indicators)
The calculation of the overall NRI score is based on following aggregations of scores:
individual indicators are combined to gain pillar scores, which are then combined get sub-index
scores. Sub-index scores are in turn combined to produce a country’s overall NRI score.
Networked readiness is improving almost everywhere in the world, with a clear upward trend
in performance over the globe across all regions. Below in Table 1 we present the index score
and ranking of selected countries to demonstration main trends in network development.
The data shows that Singapore is the only leader in this ranking, which also tops the sub-
indices. The Nordic countries and the US are in the top five. Japan, which enjoys the reputation
of a leading technology country, ranks tenth, with sub-indexes lagging behind to these countries
and ranked second only in the usage sub-index.
The US is ahead of Japan in all indicators except the usage sub-index. EU member states,
Germany, France, Italy, show a multifaceted picture. Germany is ranked best (Rank in 2016 - 15;
environment sub-index-20; Readiness sub-index-13; Usage sub-index-14; Impact sub-index-15.),
while France and Italy show diverse picture in sub-indexes (Rank in 2016 -24 and 45;
environment sub-index -26 and 85; Readiness sub-index -27 and 41; Usage sub-index -20 and 43;
Impact sub-index - 19 and 48, respectively. Italy is significantly behind France. The latter holds
approximately similar positions in the sub-indices, while Italy shows a wide range of ranks in
sub-indexes and has significant failure in environmental conditions. An interesting picture is
created by the former Soviet states of the Baltic States, which are now EU member states. Estonia
is leading. Its sub-indexes are slightly behind those of Germany and France in all sub-indexes
(Rank in 2016 - 22; environment sub-index-23; Readiness sub-index-13; Usage sub-index-23;
 Sepashvili
196 Supporting Digitalization: Key Goal for National Competitiveness in Digital Global Economy

Impact sub-index-16.), and according to the readiness and usages sub-indexes Estonia is even
ahead France. As for Lithuania and Latvia, they are in a good position (rank in 2016 29 and 32,
correspondently) and are ahead of EU member states such as Spain, Czech Republic, Slovenia,
Hungary, Romania, Bulgaria (rank in 2016 – 35, 36, 37, 50, 66 and 69, correspondently).

Rank in Envir- Readi-

Usage Impact
2015 onment ness
Rank in Income sub- sub-
Country Value sub- sub-
2016 (out of level index/ index/
index/ index/
145) value value
value value
1 Singapore 1 6.0 1 HI* 1/6.0 1/6.1 1/6.0 1/6.1
HI-
2 Finland 2 6.0 2
OECD
5/5.6 1/6.6 7/5.8 4/5.8

HI-
3 Sweden 3 5.8 3
OECD
12/5.3 7/6.3 4/5.9 3/5.8

HI-
4 Norway 4 5.8 5
OECD
6/5.5 4/6.4 9/5.8 9/5.6

United HI-
5 States
5 5.8 7
OECD
13/5.3 5/6.4 8/5.8 5/5.8

HI-
6. Japan 10 5.6 10
OECD
17/5.2 15/6.1 2/5.9 14/5.3

HI-
7 Germany 15 5.6 13
OECD
20/5.2 13/6.1 14/5.6 15/5.3

HI-
8 Estonia 22 5.4 22
OECD
23/5.0 18/6.0 23/5.4 16/5.2

HI-
9 France 24 5.3 26
OECD
26/5.0 27/5.8 20/5.4 19/5.2

United Arab
10 emirates
26 5.3 23 HI 19/5.2 56/5.0 13/5.6 18/5.2

11 Lithuania 29 4.9 31 HI 36/4.6 42/5.4 31/4.9 28/4.8

12 Latvia 32 4.8 33 HI 37/4.6 31/5.6 35/4.6 31/4.5
13 Kazakhstan 39 4.6 40 UM 47/4.3 39/5.5 44/4.4 40/4.2
Russian
14 Federation
41 4.5 41 HI 67/4.0 32/5.5 40/4.5 41/4.1

HI-
15 Italy 45 4.4 55
OECD
85/3.8 41/5.5 43/4.4 48/4.0

16 Azerbaijan 53 4.3 57 UM 74/3.9 67/4.8 41/4.4 46/4.0

17 Armenia 56 4.3 58 LM 78/3.9 42/5.4 65/4.0 54/3.9
18 Georgia 58 4.3 60 LM 56/4.1 46/5.3 72/3.8 63/3.8
19 Ukraine 64 4.2 71 LM 94/3.8 30/5.7 88/3.6 69/3.7
20 Moldova 71 4.0 68 LM 111/3.5 52/5.1 76/3.8 71/3.7
Note: Income level classification follows the World Bank classification by income (situation as of July 2015). Group
classification follows the International Monetary Fund’s classification (situation as of April 2016).
* Income groups: HI = high-income economies that are not members of the OECD; HI-OECD = high-income OECD
members; UM = upper-middle-income economies; LM = lower-middle-income economies; LI = low-income
economies.

Table 1 – Network Readiness Index 2016 (Source: Global Information Technology Report 2016)
Sepashvili
Supporting Digitalization: Key Goal for National Competitiveness in Digital Global Economy 197

Eastern Partnership countries (Azerbaijan, Armenia, Moldova, Georgia, Ukraine, Belarus;

no data in the report) hold normal positions. Moldova is lagging behind in all indicators. Georgia
has the best indicator in the environment sub-index (56), Ukraine is the most advanced country
in the readiness sub-index (30), while Azerbaijan is leading in the usage sub-index and Impact
sub-index (41 and 46, correspondently).
The central position of networks in economics dramatically changes the environment for
business actors across all sectors of economy. The result for businesses is their advanced ability
to faster adjust to this importance precondition for innovation success. The innovation alone is
no longer enough. Gaining wider markets and more customers is crucial due to the self-
reinforcing nature of network effects. Business that advance in implication of digital
opportunities, earlier gain competitive advantages that leads them to more successfully
compete with rivalries and simultaneously gain greater economy of scale. Expanding of
business scale is also significant for self-optimization of systems: the more participants, the
faster the system updates and adjust the offers to market actors. Rapid advancement is also
enabling companies to set industry standards, which can serve as a competitive advantage
because the company that expand earlier create the precedent and consequently can define that
precedent.

6 – Conclusion
The 4th wave of industrial revolution at the beginning of 21st century creates digital space that
combines virtual world with physical and biological ones. Information and communication
technologies are the pillars of this evolution. Today more than ever future of countries depends
on how national governments can coordinate businesses and individuals to deal with digital
technologies. This political goal equally concerns variety of issues such as physical
infrastructure for internet networks, regulatory frameworks, business readiness, consumer
skills and est. Policymakers have to develop such policy measures that support basic
infrastructural development in closely cooperation with other stakeholders - business,
academicians, individuals, - to promptly implement universal long-term goals for modern
technological development and lead in adapting environment to ensure that ICTs deliver
maximum benefits.
Digitization has been an advantage to the global economy. However, the digital
development remains an on-going process rather than a reality of every national economy.
National Governments have to redouble their efforts to create better and larger infrastructure
for the digital economy to grow. The ability of expanding business through physical
infrastructure cannot be considered for granted in the digital economy. Not only physical
infrastructure is enough for further digitalization. The creation of an ecosystem that
systematically allows top innovations to be advanced globally still remains a key policy goals.

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