Luohan Academy Releases Report on Digital Technology and Inclusive Growth

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Luohan Academy, an open research institute initiated by Alibaba Group Holding Limited, released its first report examining the relationship between digital technology and economic growth at the 2019 World Economic Forum in Davos.

Using China as a case study, the report detailed how digital technology can drive inclusive growth in ways previous technology revolutions couldn’t.

Key findings include lowering skill threshold, leveraging digital platforms, forming effective public-private partnerships, and managing unanticipated effects.

China digital inclusive finance index, 2011 - 17
China digital inclusive finance index, 2011 – 17 (Source: Alibaba)

“Experience in China and other emerging markets shows the tremendous potential of a new growth path, one that makes development more inclusive and sustainable,” said Chen Long, Director of Luohan Academy.

Real gross domestic product (GDP) per capita across countries and regions, 1000 - 2016
Real gross domestic product (GDP) per capita across countries and regions, 1000 – 2016 (Source: Alibaba)

The report was launched at an event co-hosted with the World Bank, and featured speeches and a panel discussion with high-profile experts including HM Queen Maxima of the Netherlands and UN Special Advocate for Inclusive Finance and Development; Kristalina Georgieva, CEO of the World Bank; Michael Spence, Professor of Economics at New York University and Nobel Prize Winner; Jack Ma, Alibaba Group Executive Chairman, and Chen Long, Director of Luohan Academy.

E-commerce share of total retail sales, 2003-17
E-commerce share of total retail sales, 2003-17 (Source: Alibaba)

“In conjunction with experience in other developing countries, there is a very convincing case that digitally-enabled, platform-based ecosystems are a new and powerful growth engine,” said Michael Spence, 2001 Nobel Prize Laureate in Economics and professor at New York University.

A new path to inclusive growth powered by digital technologies
A new path to inclusive growth powered by digital technologies (Source: Alibaba)

Luohan Academy is an independent think tank created by Alibaba Group in June last year. It intends to bring together the best thinkers in the world with first-hand practical insights into the digital economy in order to advance research of digital technology and explore its impact on humanity.

Featured Image Source: The Leadership Network.

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