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In Search of An ICT Impact on TFP: Evidence from Industry Panel Data

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Author Info
Vecchi, Michela (NIESR)
Mary O'Mahony

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Abstract

This paper uses a new set of industry data for the US and the UK non-agricultural market economy, to provide new evidence on the impact of ICT on TFP. We compare the results from standard panel data techniques with newly developed dynamic panel data estimation methods. The traditional industry panel data analysis fails to find a significant impact of ICT on output/TFP growth. This paper argues that this is due to heterogeneity across industries, particularly in the time dimension. An alternative technique which allows the dynamic specification to vary across industries yields a positive and significant long-run impact of ICT on TFP.

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File URL: http://repec.org/res2003/Vecchi.pdf
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Publisher Info
Paper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 210.

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Date of creation: 04 Jun 2003
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Handle: RePEc:ecj:ac2003:210

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Web page: http://www.res.org.uk/society/annualconf.asp
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Related research
Keywords: productivity; ICT capital; heterogeneous dynamic panels;

Find related papers by JEL classification:
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Statistical Decision Theory; Operations Research
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
O3 - Economic Development, Technological Change, and Growth - - Technological Change

Cited by:
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  1. Sang-Yong Tom Lee & Xiao Jia Guo, 2004. "Information and Communications Technology (ICT) and Spillover: A Panel Analysis," Econometric Society 2004 Far Eastern Meetings 722, Econometric Society. [Downloadable!]
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This page was last updated on 2009-11-25.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.