Sectoral Determinants and Dynamics of ICT Investment in Italy
AbstractIn this paper we make use of very detailed sectoral data for Italy to study both the aggregate evolution and the sectoral diffusion of ICT investment expenditure during the 1990s. In the aggregate we find that the 1992 recession strongly halted ICT investment, and only in 1999 the Italian economy recovered the same rate of ICT capital formation. Second, mixed evidence on diffusion is shown by the sectoral expenditure on ICT capital goods. Finally, an econometric analysis of sectoral ICT determination shows that, besides capital intensity and interest rates, R&D expenditure is a strong predictor of ICT investment expenditure. Hence, since R&D-intensive sectors are usually associated with the highest growth potential, ICT expenditure by those sectors may trigger virtuous growth dynamics.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 94 (2004)
Issue (Month): 3 (May-June)
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Find related papers by JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- L63 - Industrial Organization - - Industry Studies: Manufacturing - - - Microelectronics; Computers; Communications Equipment
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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- Simona Iammarino & Cecilia Jona-Lasinio & Susanna Mantegazza, 2003. "Regional growth and ICT in Italy: an analysis of SMEs versus large firms," ERSA conference papers ersa03p126, European Regional Science Association.
- Simona Iammarino & Cecilia Jona-Lasinio & Susanna Mantegazza, 2004. "Labour productivity, ict and regions. the resurgence of the italian "dualism"?," ERSA conference papers ersa04p183, European Regional Science Association.
- Atzeni, Gianfranco E. & Carboni, Oliviero A., 2006. "ICT productivity and firm propensity to innovative investment: Evidence from Italian microdata," Information Economics and Policy, Elsevier, vol. 18(2), pages 139-156, June.
- 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.
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