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Technologization and Economic Transformation: The Influence of Technology Adoption in Reducing the Shadow Economy and Increasing Welfare

Author

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  • Lavinia Mastac

    (Bucharest University of Economic Studies, Bucharest, Romania / Ovidius University of Constanța, Romania)

  • Diane Paula Corina Vancea

    (Ovidius University of Constanța, Romania)

Abstract

In the context of technological discoveries, this study analyses the level and influence of the Technological Achievement Index (TAI) over the shadow economy and citizens welfare from thirty nations, in the time frame 2007 - 2022. The scientific community is very interested in the relation between technology and economic and social development. However, the precise impact that TAI has on other suitable indicators it’s not yet well understood. Three linear regressions are performed following the update of the TAI values and the trends of the variables are compared. Findings show a correlation between a larger TAI and a growth of the Gross Domestic Product (GDP), a growth of the Human Development Index (HDI), and a contraction of the Shadow Economy. Results suggest that technology adoption can lead to positive social and economic consequences. As a result, this study provides relevant information for social and economic policies, highlighting the importance of technology investment to promote economic growth and diminish the shadow economy.

Suggested Citation

  • Lavinia Mastac & Diane Paula Corina Vancea, 2025. "Technologization and Economic Transformation: The Influence of Technology Adoption in Reducing the Shadow Economy and Increasing Welfare," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 126-137.
    • Handle: RePEc:ddj:fseeai:y:2025:i:1:p:126-137
    DOI: https://doi.org/10.35219/eai15840409492
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