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Vergara Cobos, Estefania

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Last updated: November 19, 2024
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Estefania Vergara Cobos is an economist in the Chief Economist’s Office for the Infrastructure Vice Presidency at the World Bank, where she leads research on the economic and developmental impacts of digitalization in developing countries, including the realm of cybersecurity. Prior to joining the World Bank, she held academic positions, teaching economics at institutions such as Santa Clara University, Universidad de las Americas, and Stony Brook University. She holds a PhD in economics and a master’s degree in game theory from Stony Brook University, along with advanced studies in computer science, which she integrates into her research on the economics of digital transformation.

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    Cybersecurity Economics for Emerging Markets
    (Washington, DC: World Bank, 2024-09-17) Vergara Cobos, Estefania
    In our increasingly interconnected world, where digital technologies are rapidly transforming multiple aspects of daily life, the critical role of cybersecurity cannot be overstated, especially in developing nations. As these countries strive to harness the power of modern technology to drive economic growth, enhance public services, and elevate living standards, they concurrently face heightened risks associated with cyber threats. The increasing exposure of developing countries to cyber incidents is often compounded by various factors, including scarce resources, inadequate infrastructure, political unrest, inefficiencies in cybersecurity and technology markets, shortages of skilled cybersecurity professionals, legislative voids, and rapid rates of digital adoption. "Cybersecurity Economics for Emerging Markets" is a pioneering research work that delves into the drivers and profound consequences of cyber incidents worldwide. From economic setbacks that can destabilize entire economies to interruptions of vital services and impediments to social and economic development, the impacts of cyber incidents are far-reaching. This book analyzes hundreds of scholarly works and thousands of publicly disclosed cyber incidents over the past decade across some 190 countries. It sheds light on these incidents’ characteristics and trends, as well as the proactive roles that private market players and governments can assume to safeguard infrastructure in cyberspace effectively. The book presents practical, evidence-based policy suggestions that include efforts to strengthen the resilience of the most essential and interconnected sectors. It advocates for bolstering the national cybersecurity industries, strategizing cybersecurity research and development, addressing market failures through cybersecurity awareness and training programs, and taking proactive steps to reduce and control contagion effects from cyber incidents. By revealing crucial empirical and theoretical dimensions of cybersecurity economics, this book provides insights that could inform the creation of effective cybersecurity investments, with a focus on developing countries. These insights are invaluable for policy makers and stakeholders committed to fortifying the digital ecosystem against the ever-evolving landscape of cyber threats.
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    Growth and Transformative Effects of ICT Adoption: A Survey
    (World Bank, Washington, DC, 2023-03) Vergara Cobos, Estefania; Malasquez, Eduardo A.
    This paper provides a compressive synthesis of the most recent and widely cited literature on the economic effects of information and communications technology adoption at the country, firm, and individual levels. The study surveys and analyzes the available literature on the topics of economic growth and transformation, and highlights the main conclusions drawn by scholars, areas of ongoing debate, and remaining research questions that need to be addressed in future work. Over 85 percent of the reviewed papers are of quantitative nature, and approximately 32% of those show causal effects. The majority of the studies find a positive relationship between the adoption of information and communications technology and country economic growth, firm level growth, household/individual welfare, or labor conditions, with most showing statistically significant results. The paper shows that, for policy making purposes, the effects of information and communications technology adoption should be thoroughly evaluated at all levels to ensure that the benefits outweigh any potential negative consequences.