The impact of e-commerce on economic growth: empirical research in countries around The world
Published: July 24, 2026
Abstract
This paper conducts empirical research on the impact of e-commerce on economic growth in countries around the world. The panel data analysis method is used to analyze data collected from 25 countries in the period 2018–2022, in order to evaluate the impact of e-commerce on economic growth. Besides the static tabular model, the System Generalized Method of Moments (SGMM) is used for the dynamic tabular model. Empirical research results show that factors including the number of internet users, the number of people participating in online shopping, and the total value of the e-commerce market have positive impacts on economic growth. Based on the paper’s findings, some policy implications for the development of the e-commerce market are proposed to promote economic growth.
Keywords
e-commerceonline shoppingeconomic growth
References
1.
Arellano, M., and S. Bond (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations. Review of Economic Studies, 58(2), 277-297.
2.
Berndt, E. R., Morrison, C. J., & Rosenblum, L. S. (1992). High tech capital for nation and labor composition in U.S. manufacturing industries: An Exploratory Analysis.
3.
Burnside, C., & Dollar, D. (1997). Aid, Policies and Growth Policy.
4.
Fischer, Stanley (1991). Growth, Macroeconomics and Development. NBER Macroeconomics Annual, 6, 329-364.
5.
Internet Usage Statistics World Internet Users and Population Stats (2010).
6.
Internet World Stats (2023).
7.
Liu, T.K., Chen, J.R., Huang, C.J., & Yang, Chi. (2013). E-commerce, R&D, and productivity: Firm-level evidence from Taiwan. Information Economics and Policy, 25, 272-283.
8.
Lund, M.J.F., & McGuire, S. (2005). Institutions and development: Electronic commerce and economic growth. Organization Studies, 26(12), 1743-1763.
9.
Malkawi, B.H. (2007). E-commerce in Light of International Trade Agreements: The WTO and the United States–Jordan Free Trade Agreement. International Journal of Law and Information Technology, 15(2), 153-169.
10.
Parsons, D.J., Gottlieb, C.C., & Denny, M. (1993). Productivity and Computers in Canadian Banking. Journal of Productivity Analysis, 4, 91-110.
11.
Blundell, R., & Bond, S. (1998). Initial Conditions and Moment Restrictions in Dynamic Panel Data Models. Journal of Econometrics, 87, 115-143.
12.
Sichel, D. (1997). The Computer Revolution: An Economic Perspective. Washington DC: Brookings Institution Press.
13.
WTO (1998). Study from WTO Secretariat Highlights Potential Trade Gains from Electronic Commerce.
