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Economic Impact of Information Industry Development and Investment Strategy for Information Industry

Economic Impact of Information Industry Development and Investment Strategy for Information Industry

Boqiang Lin, Zhijie Jia, Malin Song
Copyright: © 2021 |Volume: 29 |Issue: 1 |Pages: 22
ISSN: 1062-7375|EISSN: 1533-7995|EISBN13: 9781799859000|DOI: 10.4018/JGIM.2021010102
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MLA

Lin, Boqiang, et al. "Economic Impact of Information Industry Development and Investment Strategy for Information Industry." JGIM vol.29, no.1 2021: pp.22-43. http://doi.org/10.4018/JGIM.2021010102

APA

Lin, B., Jia, Z., & Song, M. (2021). Economic Impact of Information Industry Development and Investment Strategy for Information Industry. Journal of Global Information Management (JGIM), 29(1), 22-43. http://doi.org/10.4018/JGIM.2021010102

Chicago

Lin, Boqiang, Zhijie Jia, and Malin Song. "Economic Impact of Information Industry Development and Investment Strategy for Information Industry," Journal of Global Information Management (JGIM) 29, no.1: 22-43. http://doi.org/10.4018/JGIM.2021010102

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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.