The global economy is increasingly integrated due to the information and communication revolution. Countries have become more reliant on global supply chains that are driven by digital platforms. As a result, information and communication technology (ICT), international trade, and foreign direct investment (FDI) appear to have become drivers of economic growth. In this paper, we investigate whether this logical assertion is true. More importantly, we examine the interlinks among the variables in the short and long run. Directions of causal links among these variables are complex and sometimes subtle and it is therefore important to establish them through rigorous empirical analysis. For our study, we consider the G-20 countries over 1961-2019. Our study reveals a myriad of underlying temporal links among the variables. The key policy implication of these results is that long-term growth in this group of countries depends on greater co-development and harmonization of policies on ICT, FDI, and trade openness. Moreover, policymakers should be cognizant of the short-run connections between the covariates.

由于信息和通信革命，全球经济日益一体化。各国越来越依赖由数字平台驱动的全球供应链。结果，信息和通信技术（ICT），国际贸易和外国直接投资（FDI）似乎已成为经济增长的驱动力。在本文中，我们调查了此逻辑断言是否正确。更重要的是，我们检查了链接在短期和长期变量中。这些变量之间的因果关系的方向是复杂的，有时甚至是微妙的，因此，通过严格的经验分析来建立它们很重要。在我们的研究中，我们考虑了1961-2019年间的20国集团。我们的研究揭示了变量之间无数的潜在时间联系。这些结果的关键政策含义是，这组国家的长期增长取决于ICT，FDI和贸易开放政策的更大共同发展和协调。此外，政策制定者应意识到协变量之间的短期联系。