Digitalization in Manufacturing Requires Increasing Investments Over Time for Growth
The article looks at how to model production in the manufacturing industry in Germany, considering changes in factors over time and the impact of digitalization. By adjusting the production function to account for these changes, the accuracy of calculations improved. The study found that as digitalization decreases relative output over time, investments in digital technologies need to increase to maintain growth. Early investments in digitalization have a greater impact. The findings suggest that using correction coefficients based on German data is more effective than using past Ukrainian data when modeling the Ukrainian economy.