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Information Technology and the World Economy

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  • Dale W. Jorgenson
  • Khuong Vu
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    Abstract

    This paper addresses the impact of investment in information technology (IT) on the recent resurgence of world economic growth. We describe the growth of the world economy, seven regions and 14 major economies during the period 1989-2003. We allocate the growth of world output between input growth and productivity and find, surprisingly, that input growth greatly predominates! The contributions of IT investment have increased in all regions, but especially in industrialized economies and Developing Asia. Differences in per capita output are explained by differences in per capita input, rather than by variations in productivity. Copyright The editors of the "Scandinavian Journal of Economics", 2005 .

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    Bibliographic Info

    Article provided by Wiley Blackwell in its journal The Scandinavian Journal of Economics.

    Volume (Year): 107 (2005)
    Issue (Month): 4 (December)
    Pages: 631-650

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    Handle: RePEc:bla:scandj:v:107:y:2005:i:4:p:631-650

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    Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

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    Cited by:
    1. Christophe Cahn & Arthur Saint-Guilhem, 2010. "Potential output growth in several industrialised countries a comparison," Empirical Economics, Springer, vol. 39(1), pages 139-165, August.
    2. Kubo, Akihiro, 2012. "The US tech pulse, stock prices, and exchange rate dynamics: Evidence from Asian developing countries," Journal of Asian Economics, Elsevier, vol. 23(6), pages 680-687.
    3. Anne-Marie Mohammed & Eric Strobl, 2011. "Good Governance and Growth in Developing Countries: A Case Study of Regulatory Reforms in the Telecommunications Industry," Journal of Industry, Competition and Trade, Springer, vol. 11(1), pages 91-107, March.
    4. Daniel Chiquiar & Manuel Ramos Francia, 2009. "Competitiveness and Growth of the Mexican Economy," Working Papers 2009-11, Banco de México.
    5. Cette, G. & Kocoglu, Y. & Mairesse, J., 2010. "Productivity Growth and Levels in France, Japan, the United Kingdom and the United States in the Twentieth Century," Working papers 271, Banque de France.
    6. Chris Papageorgiou & Subir Lall & Florence Jaumotte, 2008. "Rising Income Inequality: Technology, or Trade and Financial Globalization?," IMF Working Papers 08/185, International Monetary Fund.
    7. International Monetary Fund, 2007. "Asia Rising: A Sectoral Perspective," IMF Working Papers 07/130, International Monetary Fund.
    8. Francesco Venturini, 2009. "The long-run impact of ICT," Empirical Economics, Springer, vol. 37(3), pages 497-515, December.
    9. Vu, Khuong M., 2013. "Information and Communication Technology (ICT) and Singapore’s economic growth," Information Economics and Policy, Elsevier, vol. 25(4), pages 284-300.
    10. Edgardo M. Favaro, 2008. "Small States, Smart Solutions : Improving Connectivity and Increasing the Effectiveness of Public Services," World Bank Publications, The World Bank, number 6416, January.
    11. Amavilah, Voxi Heinrich, 2006. "Intensity of technology use and per capita real GDP across some African countries," MPRA Paper 1675, University Library of Munich, Germany.
    12. Christophe Cahn & Arthur Saint-Guilhem, 2008. "Potential output growth in several industrialised countries: a comparison," Working Papers halshs-00586632, HAL.
    13. Hartmut Egger & Josef Falkinger, 2013. "Limited Consumer Attention in International Trade," CESifo Working Paper Series 4166, CESifo Group Munich.
    14. Manuel Trajtenberg, 2005. "Innovation Policy for Development: an Overview," IDB Publications 46598, Inter-American Development Bank.
    15. Esteban Alfaro Cortés & José-Luis Alfaro Navarro, 2011. "Do ICT Influence Economic Growth and Human Development in European Union Countries?," International Advances in Economic Research, Springer, vol. 17(1), pages 28-44, February.
    16. Florence Jaumotte & Irina Tytell, 2007. "How has the Globalization of Labor Affected the Labor Income Share in Advanced Countries?," IMF Working Papers 07/298, International Monetary Fund.
    17. Thompson, Herbert Jr. & Garbacz, Christopher, 2007. "Mobile, fixed line and Internet service effects on global productive efficiency," Information Economics and Policy, Elsevier, vol. 19(2), pages 189-214, June.

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