Investigating the Impact of Information and Communication Technology on the Business Environment in BRICS Countries from 2000 to 2020

Abstract

One of the most important applications of information and communication
technology (ICT) is in the field of economics. The impact of ICT on this
field can be observed through various ways. The business environment is
one of the key elements of a country's economic environment that is
influenced by ICT. Therefore, this article examines the impact of ICT on the
business environment in BRICS countries from 2000 to 2020. The data is
extracted from the World Bank website, the statistical database of trade, and
the Heritage Foundation. The research model is estimated using the
Generalized Least Squares (GLS) method. The findings confirm the main
hypothesis of the study, which states that there is a positive and significant
impact of the ICT index on the business environment in BRICS countries.
Specifically, with a one-unit increase in the ICT index, the business
environment index increases by 0.8245 units in BRICS countries. This
indicates that the studied countries have effectively utilized the advantages
and capabilities of ICT to improve their business environment.