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Digitalisation and its impact on the economy: insights from a survey of large companies

Author

Listed:
  • Elding, Catherine
  • Morris, Richard

Abstract

This box summarises the findings of an ad hoc ECB survey of leading euro area companies looking at the impact that digitalisation has on the economy. Overall, companies regard digitalisation as having a positive impact on their sales and productivity, mainly because it provides better access to customers, facilitates the sharing of knowledge and makes production processes more efficient. They also see digitalisation increasing their flexibility when it comes to price setting. Most companies, particularly manufacturers, tend to regard digitalisation as reducing costs and increasing margins, but retailers are more likely to see input costs increasing and margins being squeezed. Finally, companies report that digitalisation is having a small negative impact on employment, while emphasising the importance of retraining and upskilling. JEL Classification: O33, E00

Suggested Citation

  • Elding, Catherine & Morris, Richard, 2018. "Digitalisation and its impact on the economy: insights from a survey of large companies," Economic Bulletin Boxes, European Central Bank, vol. 7.
  • Handle: RePEc:ecb:ecbbox:2018:0007:4
    Note: 2322645
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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2018/html/ecb.ebbox201807_04.en.html
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    Citations

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    Cited by:

    1. Marketa Mlcuchova, 2022. "A Review of Platform Business Models," MENDELU Working Papers in Business and Economics 2022-80, Mendel University in Brno, Faculty of Business and Economics.
    2. Klaus Kornwachs & Nico Stehr, 2021. "Die Frage der Qualifizierung in einer digitalisierten Gesellschaft [The Question of Qualification in a Digitalised Society]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(1), pages 33-39, January.
    3. Carroni, Elias & Delogu, Marco & Pulina, Giuseppe, 2023. "Technology adoption and specialized labor," International Economics, Elsevier, vol. 173(C), pages 249-259.
    4. Anderton, Robert & Jarvis, Valerie & Labhard, Vincent & Morgan, Julian & Petroulakis, Filippos & Vivian, Lara, 2020. "Virtually everywhere? Digitalisation and the euro area and EU economies," Occasional Paper Series 244, European Central Bank.

    More about this item

    Keywords

    Digitalisation;

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • E00 - Macroeconomics and Monetary Economics - - General - - - General

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