Is IT Driving the U.S. Productivity Revival?

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Is IT Driving the U.S. Productivity Revival?

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Kevin J. Stiroh ()

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Kevin Stiroh

Abstract

Since 1995, productivity growth has accelerated significantly in the United States. Information technology has always been thought to be the driving force behind this development. In this article by Kevin Stiroh of the Federal Reserve Bank of New York provides strong empirical support for this view. Stiroh finds that the industries that made the largest investments in information technology (IT) in the early 1990s show the largest productivity gains in the late 1990s and that IT capital investment has a large impact of productivity gains. His evidence also supports the view that the U.S. productivity revival is not cyclical in nature, but a long-term or structural phenomenon.

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Publisher Info
Article provided by Centre for the Study of Living Standards in its journal International Productivity Monitor.

Volume (Year): 2 (2001)
Issue (Month): (Spring)
Pages: 31-36
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Handle: RePEc:sls:ipmsls:v:2:y:2001:4

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Find related papers by JEL classification:
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives
O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity

References listed on IDEAS
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.:

Michael T. Kiley, 1999. "Computers and growth with costs of adjustment: will the future look like the past?," Finance and Economics Discussion Series 1999-36, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
Erik Brynjolfsson & Shinkyu Yang, 1997. "Information Technology and Productivity: A Review of the Literature," Working Paper Series 202, MIT Center for Coordination Science. [Downloadable!]
Erik Brynjolfsson & Lorin M. Hitt, 2000. "Beyond Computation: Information Technology, Organizational Transformation and Business Performance," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 23-48, Fall. [Downloadable!] (restricted)
Karl Whelan, 2000. "Computers, obsolescence, and productivity," Finance and Economics Discussion Series 2000-06, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
Other versions:
- Karl Whelan, 2002. "Computers, Obsolescence, And Productivity," The Review of Economics and Statistics, MIT Press, vol. 84(3), pages 445-461, August. [Downloadable!] (restricted)
Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: US Economic Growth in the Information Age," OECD Economics Department Working Papers 261, OECD, Economics Department. [Downloadable!]
Other versions:
- 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(2000-1), pages 125-236. [Downloadable!]
William D. Nordhaus, 2001. "Productivity Growth and the New Economy," NBER Working Papers 8096, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- William D. Nordhaus, 2000. "Productivity Growth and the New Economy," Cowles Foundation Discussion Papers 1284, Cowles Foundation, Yale University. [Downloadable!]
- William D. Nordhaus, 2002. "Productivity Growth and the New Economy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 33(2002-2), pages 211-265. [Downloadable!]

Full references

Cited by:
(explanations, 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.)

Andrew Sharpe, 2007. "Lessons for Canada from International Productivity Experience," International Productivity Monitor, Centre for the Study of Living Standards, vol. 14, pages 20-37, Spring. [Downloadable!]
Pascal Petit, 2002. "The Roots of the New Economy: An Institutional Perspective," International Productivity Monitor, Centre for the Study of Living Standards, vol. 4, pages 39-54, Spring. [Downloadable!]

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