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The contribution of ICT to economic activity: a growth accounting exercise with Spanish firm-level data

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  • Ignacio Hernando

    ()
    (Banco de España)

  • Soledad Núñez

    ()
    (Banco de España)

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    Abstract

    This paper applies a well-established growth accounting framework to measure the contribution of ICT inputs to output and labour productivity growth in Spain, using a sample of 1300 firms per year over 1991-2000. Firm-level data are helpful to overcome the availability lags and the mismeasurement of capital stocks associated with the use of aggregate data. We find that: 1) The use of ICT inputs has made a positive and significant contribution to output and productivity growth. 2) This contribution was higher in the second half of the 1990s. 3) At a sectoral level, there is a general rise in the share of ICT in total capital and a general reduction in ICT cost shares. (Copyright: Fundación SEPI)

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    Bibliographic Info

    Article provided by Fundación SEPI in its journal Investigaciones Económicas.

    Volume (Year): 28 (2004)
    Issue (Month): 2 (May)
    Pages: 315-348

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    Handle: RePEc:iec:inveco:v:28:y:2004:i:2:p:315-348

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    Postal: Investigaciones Economicas Fundación SEPI Quintana, 2 (planta 3) 28008 Madrid Spain
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    Related research

    Keywords: Information and communication technologies; growth accounting; technological change;

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Ángel Estrada & David López-Salido, 2001. "Accounting for Spanish productivity growth using sectoral data: New Evidence," Banco de Espa�a Working Papers 0110, Banco de Espa�a.
    2. Erik Brynjolfsson & Lorin Hitt, 1996. "Paradox Lost? Firm-Level Evidence on the Returns to Information Systems Spending," Management Science, INFORMS, vol. 42(4), pages 541-558, April.
    3. Karl Whelan, 2002. "Computers, Obsolescence, And Productivity," The Review of Economics and Statistics, MIT Press, vol. 84(3), pages 445-461, August.
    4. Ignacio Hernando & Soledad Núñez, 2002. "The contribution of ICT to economic activity: a growth accounting exercise with Spanish firm-level data," Banco de Espa�a Working Papers 0203, Banco de Espa�a.
    5. Oulton,Nicholas & O'Mahony,Mary, 1994. "Productivity and Growth," Cambridge Books, Cambridge University Press, number 9780521453455.
    6. Matteo Bugamelli & Patrizio Pagano, 2001. "Barriers to investment in ICT," Temi di discussione (Economic working papers) 420, Bank of Italy, Economic Research and International Relations Area.
    7. Albers, Ronald & Vijselaar, Focco, 2002. "New technologies and productivity growth in the euro area," Working Paper Series 0122, European Central Bank.
    8. Paul Schreyer, 2000. "The Contribution of Information and Communication Technology to Output Growth: A Study of the G7 Countries," OECD Science, Technology and Industry Working Papers 2000/2, OECD Publishing.
    9. Ángel Estrada & David López-Salido, 2001. "Accounting for Spanish productivity growth using sectoral data: New Evidence," Banco de Espa�a Working Papers 0110, Banco de Espa�a.
    10. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: U.S. Economic Growth in the Information Age," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
    11. Erik Brynjolfsson & Lorin M. Hitt, 2003. "Computing Productivity: Firm-Level Evidence," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 793-808, November.
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