Impact of information and communications technology on the development and use of knowledge

The development and capitalisation of knowledge have been defining the features of economic development in recent decades. This global trend leads to a constant search for success factors in knowledge economies. The Global Knowledge Index (GKI) is the leading international indicator of the quality of knowledge capital and the ability to build effective knowledge economies. Using GKI as the primary research indicator fostering knowledge based economies, we assessed the role of information and communications technology (ICT) factors in its formation. GKI depends on subjective assessments of the impact of ICT factors on the development and use of knowledge set by experts. Here, we evaluate the effect of elements that are subject to statistical reporting and, therefore, most objectively reflect existing ICT trends in enterprises. Using the method of correlation-regression analysis and data from EU countries, we estimated the relationship of seven selected factors in the formation of GKI, establishing that significant links exist with six of seven studied elements. The closest links are with the indicators 'use of computers and the internet by employees' and 'enterprises with a website'. Additionally, continuing to test the hypothesis of a significant contribution of ICT to modern changes in the knowledge economy, we investigated their impact on GKI based on ICT development indicators assessed in the Network Readiness Index. The effect of this indicator is extremely high (R2 = 0.9287). Generally, the influence of ICT factors on knowledge development, and hence knowledge-based economies, allows one to identify the critical determinants of the success of leading countries. Our approach can be used to periodically monitor and select the most influential factors. Through reasonable efforts to stimulate the development of ICT, strengthening the role of such factors can make full use of current opportunities to create a knowledge-oriented economy.