What does ICT tell about the effects of digitalization?

Abstract: The thesis analyses the supposed impact of ICT on the economy of the European Union during 2000 – 2017. ICT access and usage proxies combined with macroeconomic control variables in panel data regressions indicate that ICT access has a positive, statistically significant effect on economic growth and labour productivity. Yet no significant results are observed with the employment data, thus disagreeing with the assumption that digitalization, proxied trough ICT-related variables, increases unemployment. Also, since obtained coefficient values are relatively small, it leads to a conclusion that the full extent of digitalization’s impact may be observed in the upcoming years.