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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

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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Bibliographic 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;

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Cited by:
  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.

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