The impact of e-commerce on the sustainable development: case of Ukraine, Poland, and Austria

Abstract

Abstract The COVID-19 pandemic dramatically and irreversibly transformed global e-commerce trends. The process of internationalization has been slowed down considerably, the level of globalization impact has decreased, that, consequently, has led to a strong lag in the development of some countries. The aim of the study is to determine the nature of e-commerce socio and economic effects in Ukraine, Poland, and Austria. For analysis, a modern mathematical apparatus was used – the Cobb-Douglas model and the Markov chain methodology. The study shows a significant positive impact of e-commerce on employment and GDP in the three countries. Thus, with an increase in investment levels in e-commerce and ICT by 1%, employment in Ukraine will increase by 0.02%, in Poland – by 0.14%, and in Austria – by 0.17%. Similarly, Ukraine’s GDP may rise by 0.07%, Poland’s – by 0.2% and Austria’s – by 0.07%. Therefore, a stable flow of investment in e-commerce will provide countries with a faster way out of the crisis, create more jobs and opportunities for business development.