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Does Information and Communication Technology Sustain Economic Growth? The Underdeveloped and Developing Countries Case

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Author Info

  • Erkan Erdil

    ()
    (Department of Economics, Middle East Technical University)

  • Burcu Turkcan

    (Department of Economics, Ege University)

  • I. Hakan Yetkiner

    ()
    (Department of Economics, Izmir University of Economics)

Abstract

This paper tests the impact of ICT on economic growth for underdeveloped and developing countries by using a panel dataset for the period of 1995-2006. We first develop the theory of the relationship between ICT and economic growth. We show that ICT-capital has a positive effect both on long-run and transitional income per capita, if it is considered as a factor of production. Next, we estimate a panel data set with 131 underdeveloped and developing countries under the assumption that ICT is one of the determining factors of economic growth. We find that ICT has positive and significant effect on economic growth even after the use of some control variables.

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File URL: http://www.stps.metu.edu.tr/sites/stps.metu.edu.tr/files/0903_0.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by STPS - Science and Technology Policy Studies Center, Middle East Technical University in its series STPS Working Papers with number 0903.

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Length: 15 pages
Date of creation: Nov 2009
Date of revision: Nov 2009
Handle: RePEc:met:stpswp:0903

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Related research

Keywords: ICT; economic growth; panel data; GMM;

References

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  1. Andrea Bassanini & Stefano Scarpetta, 2002. "Growth, Technological Change, and ICT Diffusion: Recent Evidence from OECD Countries," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 18(3), pages 324-344.
  2. Bresnahan, Timothy F. & Trajtenberg, M., 1995. "General purpose technologies 'Engines of growth'?," Journal of Econometrics, Elsevier, Elsevier, vol. 65(1), pages 83-108, January.
  3. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  4. Nicola Matteucci & Mary O'Mahony & Catherine Robinson & Thomas Zwick, 2005. "Productivity, Workplace Performance And Ict: Industry And Firm-Level Evidence For Europe And The Us," Scottish Journal of Political Economy, Scottish Economic Society, Scottish Economic Society, vol. 52(3), pages 359-386, 07.
  5. Ark, Bart van & Inklaar, Robert & McGuckin, Robert H., 2003. "ICT and productivity in Europe and the United States," CCSO Working Papers, University of Groningen, CCSO Centre for Economic Research 200311, University of Groningen, CCSO Centre for Economic Research.
  6. David, Paul A, 1990. "The Dynamo and the Computer: An Historical Perspective on the Modern Productivity Paradox," American Economic Review, American Economic Association, American Economic Association, vol. 80(2), pages 355-61, May.
  7. Lars-Hendrik Roller & Leonard Waverman, 2001. "Telecommunications Infrastructure and Economic Development: A Simultaneous Approach," American Economic Review, American Economic Association, American Economic Association, vol. 91(4), pages 909-923, September.
  8. Hardy, Andrew P., 1980. "The role of the telephone in economic development," Telecommunications Policy, Elsevier, Elsevier, vol. 4(4), pages 278-286, December.
  9. Norton, Seth W, 1992. "Transaction Costs, Telecommunications, and the Microeconomics of Macroeconomic Growth," Economic Development and Cultural Change, University of Chicago Press, University of Chicago Press, vol. 41(1), pages 175-96, October.
  10. Matti Pohjola, 2002. "The New Economy in Growth and Development," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 18(3), pages 380-396.
  11. Pohjola, Matti, 2002. "New Economy in Growth and Development," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
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