While the phenomenon of the Fourth Industrial Revolution is well-described and supported by many particular cases, the overall picture remains meager. The scale of the Fourth Industrial Revolution's disruptive impact on the global economy is unclear. Thus, how do we measure the impact of the Fourth Industrial Revolution on the global economy nowadays? What are the currently available shreds of evidence of the Fourth Industrial Revolution's impact on the global economy in terms of resources relocation and industries restructuring? How dramatic is this impact? How do we measure it? What are the variables? What data or literature would you recommend in this respect?
- Check Germany’s (Industrie 4.0) which was introduced back in 2011 (4 years before the fourth industrial revolution concept was coined).
- Look at Total Factor Productivity (TFP) and output. This is a common way of measuring technological change.
- Limit your study to countries that have reliable data.
The study linked below might be helpful as a starter to dig into the literature on the impact of technological innovations
Article Effects of Technological Shock on Employment: Application of...
However, the trickiest part might be selecting the proper methodology to estimate the impact of technological shocks. Since the research is focusing on a specific period, which is the period of the fourth industrial revolution, I recommend using a regime-switching or time-varying coefficient models (VAR or regression models ) to distinctively analyze this period and compare it with the rest, which ultimately enables you to estimate the coefficients corresponding to the period of the fourth industrial revolution. However, regime-switching VAR models are far more complex than the time-varying coefficient models. You can go with the latter as there are many robust applications for it in the literature.
I agree with your opinion Manhal Shotar ,
and I would like to add that today, living with Covid pandemic, the Fourth Industrial Revolution is giving us the much-needed changes in technology to help us overcome this situation.
Thank you for the answers!
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Thank you Boubekeur Baba
This is an interesting article. Yet, it is limited to Tunisia only. I wonder, did you come across the published empirical evidence for a broader scope?
In terms of such multifaceted issues, it is worth conducting a comparative analysis in which individual highly developed and / or developing economies will be compared, taking into account various determinants of the impact and shaping the scope of the participation of individual technologies, including Industry 4.0 technology and other technologies typical for the current, fourth revolution technological in the context of various macro-determinants of the country's economic development.
Best regards,
Dariusz Prokopowicz