Social Media as A Parallel Economic Universe: Evidence from 50 Emerging Economies

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@article{1712874,
      author = {Dr. Chukwuemeka Ifegwu Eke, Fatima Bagudu Waziri, Ngozi Anna Akune; Mudashir Abdulazeez Sholadoye, Onuegbe Victor; Adewumi Adebayo, Ajeigbe Aminat; Musa Hussaini},
      title = {Social Media as A Parallel Economic Universe: Evidence from 50 Emerging Economies},
      journal = {Iconic Research And Engineering Journals},
      year = {2025},
      volume = {9},
      number = {6},
      pages = {2051-2064},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1712874.pdf},
      abstract = {This study empirically examines the proposition that social media has evolved into a parallel economic universe?a distinct digital space where production, labour, trade, and value creation increasingly occur outside traditional physical markets. Using cross-country data from 50 emerging economies, the study models macroeconomic performance, digital services output, and platform-based employment as functions of a newly constructed Social Media Universe Index, alongside key macroeconomic controls. Ordinary Least Squares regression techniques are employed to estimate three core models linking social media intensity to (i) GDP per capita, (ii) digital services value added, and (iii) platform and gig employment share. The results provide strong evidence that the social media universe exerts a positive and statistically significant impact on economic performance. The Social Media Universe Index emerges as a robust predictor of income levels, confirming that time spent, transactions conducted, and incomes generated within social media ecosystems now translate into real macroeconomic outcomes. Furthermore, social media intensity significantly explains variations in digital services value added, indicating that value creation is progressively shifting toward virtual and platform-mediated production. The platform and gig employment model also confirms that labour markets are being structurally reconfigured by social media?driven work arrangements, with a rising share of the labour force now earning income directly within digital ecosystems. Taken together, the findings validate the central hypothesis that social media is no longer merely a communication technology but has become a self-sustaining economic universe with its own production systems, labour markets, income flows, and cross-border trade dynamics. The study contributes to digital economy and development literature by providing one of the first integrated macro-empirical assessments of social media as a parallel economic system in emerging economies. Policy implications highlight the urgent need for digital governance, platform regulation, and inclusive digital infrastructure development to harness productivity gains while managing emerging risks.},
      keywords = {Social Media Economy, Parallel Economic Universe, Digital Platforms, Creator Economy, Gig Work, Emerging Economies.},
      month = {December},
      doi = {https://doi.org/10.64388/IREV9I6-1712874}
  }