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The determinants of investment in information and communication technologies

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  • P. Guerrieri
  • M. Luciani
  • V. Meliciani

Abstract

In this paper, we assess the determinants of information and communication technology (ICT) investment at the macro-level, for a panel of 10 advanced countries, in the period 1992-2005. We investigate the idea that, since ICTs are general purpose technologies, the decision to invest in these technologies is strongly affected by the general business environment in which the investment takes place. The empirical results are consistent with this idea: facilitating factors such as changes in market regulation, amount of human capital, expenditure on R&D, and the share of the dynamic services sector in the economy, positively influence investment in ICT.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Economics of Innovation and New Technology.

Volume (Year): 20 (2011)
Issue (Month): 4 ()
Pages: 387-403

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Handle: RePEc:taf:ecinnt:v:20:y:2011:i:4:p:387-403

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Related research

Keywords: information and communication technologies; general purpose technologies; structural change; human capital; regulation;

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References

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  1. Francesco Caselli & Wilbur John Coleman, 2001. "Cross-Country Technology Diffusion: The Case of Computers," American Economic Review, American Economic Association, vol. 91(2), pages 328-335, May.
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  4. Gust, Christopher & Marquez, Jaime, 2004. "International comparisons of productivity growth: the role of information technology and regulatory practices," Labour Economics, Elsevier, vol. 11(1), pages 33-58, February.
  5. Susanto Basu & John Fernald, 2006. "Information and communications technology as a general-purpose technology: evidence from U.S industry data," Working Paper Series 2006-29, Federal Reserve Bank of San Francisco.
  6. Hausman, Jerry A, 1978. "Specification Tests in Econometrics," Econometrica, Econometric Society, vol. 46(6), pages 1251-71, November.
  7. Trinh Le & John Gibson & Les Oxley, 2005. "Measures of human capital: A review of the literature," Treasury Working Paper Series 05/10, New Zealand Treasury.
  8. Phanindra V. Wunnava & Daniel B. Leiter, 2009. "Internet Diffusion Rates," American Journal of Economics and Sociology, Wiley Blackwell, vol. 68(2), pages 413-426, 04.
  9. Paul Conway & Giuseppe Nicoletti, 2006. "Product Market Regulation in the Non-Manufacturing Sectors of OECD Countries: Measurement and Highlights," OECD Economics Department Working Papers 530, OECD Publishing.
  10. Schiantarelli, Fabio, 2005. "Product market regulation and macroeconomic performance : a review of cross-country evidence," Policy Research Working Paper Series 3770, The World Bank.
  11. 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.
  12. Hollenstein, Heinz, 2004. "Determinants of the adoption of Information and Communication Technologies (ICT): An empirical analysis based on firm-level data for the Swiss business sector," Structural Change and Economic Dynamics, Elsevier, vol. 15(3), pages 315-342, September.
  13. Stefanie Haller & Iulia Traistaru-Siedschlag, 2007. "The Adoption of ICT: Firm-Level Evidence from Irish Manufacturing Industries," Papers WP204, Economic and Social Research Institute (ESRI).
  14. Guerrieri, Paolo & Meliciani, Valentina, 2005. "Technology and international competitiveness: The interdependence between manufacturing and producer services," Structural Change and Economic Dynamics, Elsevier, vol. 16(4), pages 489-502, December.
  15. Edward M. Crenshaw & Kristopher K. Robison, 2006. "Globalization and the Digital Divide: The Roles of Structural Conduciveness and Global Connection in Internet Diffusion," Social Science Quarterly, Southwestern Social Science Association, vol. 87(1), pages 190-207.
  16. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
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Citations

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Cited by:
  1. Olimpia Neagu, 2011. "How The Investment In R&D Is Related To The Human Capital Accumulation? The Case Of Romania," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(13), pages 35.
  2. Sadaf Bashir & Bert Sadowski, 2014. "General Purpose Technologies: A Survey, a Critique and Future Research Directions," Working Papers 14-02, Eindhoven Center for Innovation Studies, revised Feb 2014.
  3. Eyraud, Luc & Clements, Benedict & Wane, Abdoul, 2013. "Green investment: Trends and determinants," Energy Policy, Elsevier, vol. 60(C), pages 852-865.
  4. Luc Eyraud & Changchang Zhang & Abdoul Aziz Wane & Benedict J. Clements, 2011. "Who's Going Green and Why? Trends and Determinants of Green Investment," IMF Working Papers 11/296, International Monetary Fund.
  5. Rammer, Christian & Köhler, Christian, 2012. "Innovationen, Anlageinvestitionen und immaterielle Investitionen," ZEW Discussion Papers 12-085, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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