International Research Journal of Innovations in Engineering and Technology - IRJIET International Open Access, Monthly, Peer Reviewed, Reputed Journal ISSN (online): 2581-3048

Impact Factor (2025): 6.9

DOI Prefix: 10.47001/IRJIET

Impact of ICT on Macroeconomic Stability and International Competitiveness Case of Rwanda

Abstract

The concern of international competitiveness for any country is a must to enjoy a comparative advantage relative to other countries. It used the dynamic vector error correction model (VCEM) to figure out the impact of ICT on financial development, international investment, trade openness, and macroeconomic stability to the economic growth and global competitiveness of Rwanda. The empirical results confirmed that commercial development peroxide by credit given by the financial sector with a robust ICT is highly significant for the short and long-run that tends to say that in Rwanda, growth is a finance-led and knowledge-based economy. At the same time, the higher adjustment coefficient has revealed a quick long term restoration of influence of above-used determinants, all embraced by an adequate ICT infrastructure. To become a middle-income country is a goal set by the Rwandan Government, and to be achieved by 2035 requires raising the level of income of the citizens throughout investment projects and harmonized economic policies. Therefore consistent macroeconomic stability, favorable business environment, trained and skilled human capital under a developed financial system embraced by ICT is paramount agenda for Rwandan decision-makers lead by advanced ICT.

Country : China / Rwanda / Sierra Leone

1 Mugabe Roger2 Peter Umaru Kamara3 Aruna Bakarr4 Abdulai Bobson Turay

  1. School of Economics, Wuhan University of Technology, Wuhan 430070, P. R. China & School of Social Sciences, Kigali Independent University ULK, Kigali, Rwanda
  2. School of Social Sciences, University of Management and Technology, Freetown, Sierra Leone
  3. School of Social Sciences, University of Management and Technology, Freetown, Sierra Leone
  4. Faculty of Social Sciences, Ernest Bai Koroma University of Science and Technology, Magburoka, Sierra Leone

IRJIET, Volume 5, Issue 2, February 2021 pp. 82-87

doi.org/10.47001/IRJIET/2021.502012

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