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Measuring the New Economy: An International Comparative Perspective

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  • Bart Van Ark

Abstract

The advances made in the production and use of information and communication technology (ICT) during the past decades may have potentially large effects for long term economic growth. Indeed the substantial acceleration in real GDP growth in many OECD countries, but in particular in the United States, during the second half of the 1990s has led to suggestions that a “new economy” has emerged. In this new economy the old economic rules were supposed to have become invalid. For example, traditional concerns about the limits of maximum production capacity might disappear as the marginal costs of producing ICT goods and services are virtually nil. Moreover, the trade‐off between inflation and unemployment could be reduced due to a more efficient inventory management.

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  • Bart Van Ark, 2002. "Measuring the New Economy: An International Comparative Perspective," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(1), pages 1-14, March.
    • Handle: RePEc:bla:revinw:v:48:y:2002:i:1:p:1-14:1
    DOI: 10.1111/1475-4991.00036-i1
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    Cited by:

    1. Pawan Kumar & Sunil Kumar, 2022. "ICT and Employment in India: An Analysis of Organized Sector," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 65(2), pages 373-395, June.
    2. Engelbrecht, Hans-Jurgen & Xayavong, Vilaphonh, 2006. "ICT intensity and New Zealand's productivity malaise: Is the glass half empty or half full?," Information Economics and Policy, Elsevier, vol. 18(1), pages 24-42, March.
    3. Charlie Karlsson & Gunther Maier & Michaela Trippl & Iulia Siedschlag & Gavin Murphy, 2010. "ICT and Regional Economic Dynamics: A Literature Review," JRC Research Reports JRC59920, Joint Research Centre.
    4. Valentin Zelenyuk, 2014. "Testing Significance of Contributions in Growth Accounting, with Application to Testing ICT Impact on Labor Productivity of Developed Countries," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 13(2), pages 115-126, December.
    5. Bellone Flora, 2005. "IT adoption and spatial agglomeration - a model of cumulative adoption in a small open economy," ERSA conference papers ersa05p731, European Regional Science Association.
    6. Kekezi, Orsa, 2021. "Diversity of experience and labor productivity in creative industries," Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 55, pages 1-18.
    7. Danish, & Khan, Salahuddin & Haneklaus, Nils, 2023. "Sustainable economic development across globe: The dynamics between technology, digital trade and economic performance," Technology in Society, Elsevier, vol. 72(C).
    8. Francesco Daveri, 2002. "The New Economy in Europe, 1992--2001," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(3), pages 345-362.
    9. Khanna, Rupika & Sharma, Chandan, 2022. "Impact of information technology on firm performance: New evidence from Indian manufacturing," Information Economics and Policy, Elsevier, vol. 60(C).
    10. Engelbrecht, Hans-Jurgen & Xayavong, Vilaphonh, 2004. "Information And Communication Technology And New Zealand'S Productivity Malaise: An Industry-Level Study," Discussion Papers 23698, Massey University, Department of Applied and International Economics.
    11. Kais Saidi & Lobna Hassen & M. Hammami, 2015. "Econometric Analysis of the Relationship Between ICT and Economic Growth in Tunisia," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 6(4), pages 1191-1206, December.
    12. Meijers, Huub, 2006. "Diffusion of the Internet and low inflation in the information economy," Information Economics and Policy, Elsevier, vol. 18(1), pages 1-23, March.
    13. Carmen Díaz-Roldán & María del Carmen Ramos-Herrera, 2021. "Innovations and ICT: Do They Favour Economic Growth and Environmental Quality?," Energies, MDPI, vol. 14(5), pages 1-17, March.
    14. Kallal, Rahim & Haddaji, Abir & Ftiti, Zied, 2021. "ICT diffusion and economic growth: Evidence from the sectorial analysis of a periphery country," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    15. Raquel Ortega-Argilés, 2012. "The Transatlantic Productivity Gap: A Survey Of The Main Causes," Journal of Economic Surveys, Wiley Blackwell, vol. 26(3), pages 395-419, July.
    16. Hyunbae Chun, 2007. "The Impact Of Information Technology On Labor Productivity Growth: Evidence From Five OECD Countries, 1970-1990," Korean Economic Review, Korean Economic Association, vol. 23, pages 5-32.
    17. Derek D. Headey & D.S. Prasada Rao & Mohammad Alauddin, 2005. "Explaining Agricultural Productivity Levels and Growth: An International Perspective," CEPA Working Papers Series WP022005, School of Economics, University of Queensland, Australia.
    18. Dongyang Zhang, 2017. "Is working capital management value-enhancing through alleviating financial constraints? Evidence from Chinese non-listed firms," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 15(4), pages 373-406, October.
    19. Ilmakunnas, Pekka & Miyakoshi, Tatsuyoshi, 2013. "What are the drivers of TFP in the Aging Economy? Aging labor and ICT capital," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 201-211.
    20. Henry van der Wiel & George van Leeuwen, 2003. "Do ICT spillovers matter; evidence from Dutch firm-level data," CPB Discussion Paper 26, CPB Netherlands Bureau for Economic Policy Analysis.
    21. Gholipour, Hassan F. & Arjomandi, Amir & Andargoli, Amirhossein Eslami & Bennett, Rohan, 2023. "On real estate market transparency: The relationship with ICT trade and investment," Land Use Policy, Elsevier, vol. 133(C).

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