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Peer-Review Record

Prospective Areas of Digital Economy in the Context of ICT Usages: An Empirical Study in Bangladesh

FinTech 2023, 2(3), 641-656; https://doi.org/10.3390/fintech2030035
by Mohammad Rakibul Islam Bhuiyan 1,*, K. M. Salah Uddin 2 and Md Noor Uddin Milon 3
Reviewer 1: Anonymous
Reviewer 2:
Reviewer 3: Anonymous
FinTech 2023, 2(3), 641-656; https://doi.org/10.3390/fintech2030035
Submission received: 22 July 2023 / Revised: 6 September 2023 / Accepted: 7 September 2023 / Published: 9 September 2023
(This article belongs to the Special Issue Corporate Governance, Digital and Money Economy)

Round 1

Reviewer 1 Report

My overall impression is not good. The article is written chaotically. It lacks a logical argument. Subsequent content does not follow from previous content.

It also lacks a detailed characterization of the research material, which should be the basis for the research objectives. We do not know where the analyzed articles came from, how they were selected. What they described.

If the authors set themselves the task of establishing the current and future picture of the digital economy in Bangladesh on the basis of academic articles and other sources, a detailed characterization of these sources is necessary.

Specific results of the analysis of the research material are missing. There is no Research results section. After the Methodology section, the authors go straight to the Discussion section. The Discussion section should discuss the results of their study against the background of previous research. In it, the authors include a "conglomeration" of disparate, unstructured information, taken from various sources, and their own thoughts.

Below are my specific comments that occurred to me while reading the article:

1. It is not clear what sectors are referred to in the first sentence in the second paragraph on page 2 "Because of the high level of mobility, the employment rate in these sectors will increase significantly in comparison to industries like manufacturing or agriculture."

On page 2, the authors write : "The previous ten years have seen significant growth in the information and communications sector, enabling the nation to contribute in the digital economy in Bangladesh." And further, "In reality, the policymakers and country's workforce are interested with the (ICT) industry (Clemons, 2007). How are these thoughts related ? Besides, they use the present tense and cite literature from 2007, while we are in 2023.

3. The second objective is vaguely worded: "To determine the components of Digital Economy of Bangladesh from numerous perspectives which leads to contribute Bangladeshi economy." Is it about the DE components that will contribute the most to the economy?, Is the mere identification of DE components supposed to contribute to the economy.

 

4. The acronym 4IR should be clarified (Fourth Industrial Revolution).

5. After reading the introduction, I can conclude that the authors have not identified the research gap, and the purpose of the study has not been precisely defined.

6. There are no references in the text to figures. Also to the figures that the authors developed. Therefore, it is difficult to conclude on what.

7. Figures 5 and 6 should be the result of previous considerations and occur last.

8. Many sentences do not show a relationship with the previous ones. E.g. What relationship does the sentence "On the other hand, software development is included in the category of IT services." has with the previous sentence: "It has long been believed that the ICT sector has the power to upend and transform Bangladesh's economy." (page 6).

9. The authors make many statements about the Digital Economy, but do not state where they come from, and do not cite other researchers.

The objections listed above determine my negative opinion and recommendation for publication of the article.

The text should be checked by a professional translator.

Note for example the excerpt on page 2 : "digital economy that will drive Bangladesh towards achieving high-income status by 2041(Rizal & Pakkanna, 2023)" which is not a sentence.

If the phrase "On the other hand" is used, the phrase "On the one hand" should be used before.

 

Author Response

As a new researcher, I have made different mistakes while conducting this article. However, I have tried my level best to complete your depth reviews and comments which is truly helpful for improving my research paper. Thanks for your cooperation and support.

Author Response File: Author Response.docx

Reviewer 2 Report

Very happy to review this paper, it was organized well and it provide implications to the digital economy in Bangladesh.

1. The part of methodology is insufficient, please provide more details in this part. It would be better if the authors could incorporate a figure of methodology steps which will show the methodology more clearly.

2. Figure 3 and figure 4 should be improved to make them more clearly.

3. Implication part is insufficient, please think about this question, which implications could your research provide to the digital economy in Bangladesh? Moreover, implication part could be combined with conclusion part, and make it as a sub section.

Very happy to review this paper, it was organized well and it provide implications to the digital economy in Bangladesh.

1. The part of methodology is insufficient, please provide more details in this part. It would be better if the authors could incorporate a figure of methodology steps which will show the methodology more clearly.

2. Figure 3 and figure 4 should be improved to make them more clearly.

3. Implication part is insufficient, please think about this question, which implications could your research provide to the digital economy in Bangladesh? Moreover, implication part could be combined with conclusion part, and make it as a sub section.

Author Response

I am delighted to receive your review which increases my research knowledge.

Author Response File: Author Response.pdf

Reviewer 3 Report

 

Title: Prospective Areas of Digital Economy: An Empirical Study in Bangladesh

The study addresses a highly relevant and timely topic - the digital economy in Bangladesh and its potential impact on the country's development goals, particularly in the context of the 4th Industrial Revolution. This is an important area of research given the increasing role of technology in shaping economies worldwide. The study takes a comprehensive approach by analyzing the digital economy from various perspectives, including its current state, future prospects, and implications for both businesses and individuals. This comprehensive scope provides a well-rounded understanding of the subject matter. The study clearly outlines its methodology, which involves a qualitative approach using secondary data. This clarity enhances the study's credibility and allows other researchers to replicate or build upon your work. Collecting and using around 100 papers, with 51 articles for the study, demonstrates a rigorous data collection process. This extensive literature review contributes to a robust analysis and solid findings. The study provides practical insights by highlighting the implications for various stakeholders, including IT industries, commercial organizations, job markets, and the national economy. This practical orientation makes the study valuable for policymakers, business leaders, and researchers.

Suggestions for Improvement

·     While the qualitative approach and secondary data are suitable for certain research questions, consider incorporating quantitative data or surveys to complement your findings. This could provide a more nuanced understanding of specific trends, preferences, or challenges faced by stakeholders in the digital economy.

·         While the study acknowledges the potential challenges related to customer confidence and trust, it would be beneficial to delve deeper into these challenges. Explore specific strategies or recommendations for building and maintaining trust in Bangladesh's digital platform economy.

·         To enhance the study's forward-looking perspective, consider incorporating scenario analysis or projections. This could involve modeling potential future scenarios based on different levels of digital adoption, technological advancements, or policy changes, and assessing their potential impacts on the economy.

·         To provide a broader context, consider including a comparative analysis of Bangladesh's digital economy with that of other countries. This could offer insights into best practices, lessons learned, and potential areas of collaboration.

·         Since the study aims to contribute to building a "smart" and prosperous Bangladesh by 2041, ensure a clear and direct link between your findings and the country's Smart Bangladesh vision. This alignment would enhance the practical implications of your study.

·         Include a section discussing the limitations of your study. Addressing potential shortcomings, such as data availability, biases in the selected articles, or the generalizability of findings, demonstrates transparency and strengthens the overall quality of the research.

Overall, your study addresses an important and timely subject, and the positive points show a strong foundation. By considering these suggestions, you can further enhance the depth, rigor, and applicability of your research findings.

 

Author Response

I am pleased to receive your depth review which would add my research knowledge. Moreover, I am delighted to you for addressing my research positions in positive sense which is one of strong foundations in my research paper.

Author Response File: Author Response.docx

Round 2

Reviewer 1 Report

The article has been revised and supplemented with additional content. 

In the current version it has a better structure, two new sections have been separated: "Analysis and results" and "Findings and discussion." A graph explaining the methodology has been added to the methodology. 

Still, the article has quite a few flaws. Thus, for example.

1. Still little is known from what databases the selected articles came from, on the basis of what criteria they were selected ?

2) There is still a lack of references to figures in the text.

3. Many figures given in the text do not have the sources of origin (you have to guess that some of them are given in the charts provided).

4. the "Findings and discussion" section begins with a diagram.

5. There are two sections in the article that refer to the results in the title "Analysis and results" and "Findings and discussion." Results and findings mean basically the same thing. 

6. In the discussion session, you should discuss the results of your research against the background of the research described in the theoretical section.

The English language has been improved.

Author Response

Dear Sir/Madam,

Hopefully you are doing well. I would like to express my appreciation to reviewer for his/her in-depth and insight comments and suggestions which contribute my research knowledge. I have revised the paper according to your comments. Thanks for your cooperation and support for improving quality of my research paper.

Author Response File: Author Response.docx

Reviewer 2 Report

It could be accepted now.

Author Response

Thanks for again for the acceptance of article now. I would like to express my appreciation to you for giving positive and insightful opinions to sign the review report. I have learned many issues by completing your review. Your final decision is the acceptance of article. 

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