In an increasingly interconnected world driven by the rapid adoption of digital technologies and online systems, the critical role of cybersecurity cannot be overstated. As societies aim to harness the power of technology to boost economic growth, enhance public services, and improve quality of life, they face heightened risks associated with cyber threats. In this context, this book demonstrates that cybersecurity is essential for the socioeconomic progress of nations. Despite increasing cybersecurity awareness, significant gaps persist. These gaps largely stem from a lack of thorough understanding of cyber incidents and their consequences. This issue poses significant obstacles in mobilizing resources for cybersecurity, particularly in developing countries with limited budgets and pressing social needs. In response to these challenges, this book offers pioneering analyses that (1) map key elements of the global cybersecurity threat landscape, (2) link these threats to the means by which economies are affected, (3) identify efficiency problems within cybersecurity markets, and (4) propose adaptive strategies, flexible policies, and decentralized governance efforts to foster innovation and sustainability amid ongoing change and uncertainty.
Authors
- DOI
- https://dx.doi.org/10.1596/978-1-4648-2120-2
- Disclosure Date
- 2024/09/17
- Disclosure Status
- Disclosed
- Doc Name
- Cybersecurity Economics for Emerging Markets
- ISBN
- 978-1-4648-2120-2; 978-1-4648-2121-9
- Pages
- 132
- Product Line
- Advisory Services & Analytics
- Published in
- United States of America
- Rel Proj ID
- 1W-The Economic Rationale Of Cybersecurity -- P178769
- TF No/Name
- TF0B8289-Cybersecurity Estimating Economic Benefits
- Unit Owning
- Infra - Chief Economist Infra (INFCE)
- Version Type
- Final
- Volume No
- 1
Table of Contents
- CYBERSECURITY 1
- ECONOMICS 1
- CYBERSECURITY 3
- ECONOMICS 3
- CYBERSECURITY 5
- ECONOMICS 5
- Contents 7
- Foreword 11
- Acknowledgments 13
- About the Author 15
- Executive Summary 17
- The Threat Landscape 17
- The Economic Costs of Cyber Incidents 19
- The Cybersecurity Market 20
- Conclusions and Policy Recommendations 22
- Notes 23
- References 23
- Abbreviations 25
- Introduction 27
- Note 30
- References 30
- The Threat Landscape 31
- Key Messages 31
- Introduction 33
- Unraveling a Decade of Disclosed Cyber Incidents 38
- Diversity of Cyber Risk 56
- Data Availability A Key Limitation to Achieving Tailored Solutions 60
- Policy Recommendations 61
- Annex 1A Databases of Disclosed Cyber Incidents 63
- Annex 1B The Cybersecurity Readiness Profile 66
- Annex 1C Bridging the Gap Variation in Commitment Scores versus Relative Exposure 68
- Notes 69
- References 71
- The Economic Costs of Cyber Incidents 75
- Key Messages 75
- Introduction 76
- Cybersecurity and Macroeconomic Stability 77
- Trends and Cost Characteristics of Cyber Incidents 78
- The Challenge of Measuring Indirect Costs 81
- Policy Recommendations 84
- Annex 2A Aggregated Costs of Cyber Incidents 86
- Annex 2B Literature Review on the Direct and Indirect Costs of Cyber Incidents 88
- Notes 94
- References 94
- The Cybersecurity Market 99
- Key Messages 99
- Introduction 101
- The New Digital Gap The Cybersecurity Gap 103
- The Market Influence of Governments in HICs 105
- Cybersecurity Market Failures 106
- Critical Cybersecurity 113
- Policy Recommendations 115
- Notes 116
- References 118
- Conclusion 123
- Glossary 125
- References 127
