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There has been a long-running debate in Information Technology (IT) andeconomics literature about the contrary arguments of IT concerningdigitalization and the economic growth of nations. While many empirical studieshave shown a significant value of IT, others revealed a detrimental impact.Given the ambiguous results and anecdotal commentary on the increase indigitalization attributed to the COVID19 global pandemic, this paper aims toexplore the economic growth-digitalization nexus of 59 countries in 7 regionsby employing correlation and regression analyses over the period 2018-2020. Thefindings indicate a positive relationship between economic growth anddigitalization for both HIGH and LOW digitalized country categorization andregional assessment. Consistent with regional results, except for NorthernAfrica and Western Asia, and Sub-Saharan Africa regions, the remaining regionsshow a positive correlation and regression results. The findings of this studycan be helpful in future prospective national IT and economic developmentpolicies.

Does IT Matter (Now)? A Global Panel Data Analysis of 7 Regions from 2018-2020 on Digitalization and its Impact on Economic Growth