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You Say You Want a Revolution

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Author Info

  • James Morsink
  • Markus Haacker

Abstract

The information technology (IT) revolution has arrived, but how much will it change the world? It has been established that IT is contributing to labor productivity growth through both increases in the levels of IT capital per worker and total factor productivity (TFP) growth in the production of IT equipment. The main outstanding issue is whether IT is contributing to TFP growth more generally. Using data on IT expenditure and production for a broad sample of countries, we find a positive, large, and significant effect of IT expenditure on the acceleration in TFP in the late 1990s and a smaller-and significant-effect of IT production. We also find evidence that the impact of IT expenditure on TFP growth increases over time, suggesting that spillovers materialize gradually. Our results suggest that the increase in IT expenditure across industrial countries during 1995-2000 will eventually lead to an average increase in TFP growth of about one-third of 1 percent per year.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/70.

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Length: 19
Date of creation: 01 Apr 2002
Date of revision:
Handle: RePEc:imf:imfwpa:02/70

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Related research

Keywords: Information technology; gdp per capita; gdp growth; technological change; real gdp; economic growth; growth accounting; total factor productivity; technologies; national income; business cycle; electronic data processing; data processing; communication technology; information and communication technologies; new technology; internet; information and communication technology;

References

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  1. Bart van Ark, 2001. "The Renewal of the Old Economy: An International Comparative Perspective," OECD Science, Technology and Industry Working Papers 2001/5, OECD Publishing.
  2. 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(1), pages 125-236.
  3. Erik Brynjolfsson & Lorin M. Hitt, 2000. "Beyond Computation: Information Technology, Organizational Transformation and Business Performance," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 14(4), pages 23-48, Fall.
  4. Jacques Mairesse & Gilbert Cette & Yussuf Kocoglu, 2000. "Les technologies de l'information et de la communication en France : diffusion et contribution à la croissance," Économie et Statistique, Programme National Persée, Programme National Persée, vol. 339(1), pages 117-146.
  5. Dirk Pilat & Frank C. Lee, 2001. "Productivity Growth in ICT-producing and ICT-using Industries: A Source of Growth Differentials in the OECD?," OECD Science, Technology and Industry Working Papers 2001/4, OECD Publishing.
  6. Nicholas Oulton, 2002. "ICT and Productivity Growth in the United Kingdom," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 18(3), pages 363-379.
  7. Kevin J. Stiroh, 2002. "Information Technology and the U.S. Productivity Revival: What Do the Industry Data Say?," American Economic Review, American Economic Association, American Economic Association, vol. 92(5), pages 1559-1576, December.
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Cited by:
  1. Christine Zhen-Wei Qiang & Alexander Pitt & Seth Ayers, 2004. "Contribution of Information and Communication Technologies to Growth," World Bank Publications, The World Bank, number 15059, August.

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