ECONOMIC CONDITIONS FOR FULLY INTEGRATING LESS DEVELOPED COUNTRIES’ MACROECONOMIC SYSTEMS WITH THE DIGITAL WORLD - THE CASE OF NIGERIA

Chukwuemeka Ifegwu Eke, Augustine Olorunfemi Obalemo, Grace Chinyere Ezeigwe

Abstract


Debates on how to fully incorporate the macroeconomics of developing countries into mainstream digital economics and economy is inconclusiveness with mixed outcome especially due to huge power infrastructure constraints. Yet the economic impact of the internet is widely documented. Thus, this called for a mathematical economics research. This is to scientifically distil the relevant factors and variables in a pure logical sequence that also generate variables that will enable further research. The main objective of this paper is to examine practical ways of fully integrate the fragile macroeconomies of developing economies into the digital world using Nigeria as a case in point. Pure economic logic and mathematical economic derivation were used for the argument. The finding of this study shows that infinitesimal expansion of consumable short term and long term resources is possible. In terms of economics, biological species can socially co-exist with humanoids and artificial intelligent enabled bots based on programmes and unconstrained economic resources. Virile virtual infrastructure, digital economics can be sustainable in a developing economy if energy per capita is dropped drastically through innovative schemes. Based on the findings of this study, the following recommendations are suggested: policy formulation and implementation that will monitor and coordinate renewal energy research outputs to increase their percentage contribution to GDP. Thereby encourage their mass consumption. More so, since macroeconomics of the digital world is feasible and there is social co-existence is possible anywhere service firms, manufacturing concerns and internet industry should come together to ensure this full integration.

 

JEL: O11; O14

 

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digital economy, electronic money, Internet economy

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DOI: http://dx.doi.org/10.46827/ejefr.v0i0.810

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