The Productivity Paradox and the New Economy: The Spanish Case
AbstractThis paper studies the impact of the information and communication technologies (ICT) on economic growth in Spain using a dynamic general equilibrium approach. Contrary to previous works, we use a production function with six different capital inputs, three of them corresponding to ICT assets. Calibration of the model suggests that the contribution of ICT to Spanish productivity growth is very relevant, whereas the contribution of non-ICT capital has been even negative. Additionally, over the sample period 1995-2002, we find a negative TFP and productivity growth. These results together aim at the hypothesis that the Spanish economy could be placed within the productivity paradox.
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Bibliographic InfoPaper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 07.01.
Length: 23 pages
Date of creation: Jan 2007
Date of revision:
New economy; information and communication technologies; technological change; productivity paradox.;
Other versions of this item:
- Martínez, Diego & Rodríguez, Jesús & Torres, José L., 2008. "The productivity paradox and the new economy: The Spanish case," Journal of Macroeconomics, Elsevier, vol. 30(4), pages 1569-1586, December.
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-28 (All new papers)
- NEP-DGE-2007-01-28 (Dynamic General Equilibrium)
- NEP-EEC-2007-01-28 (European Economics)
- NEP-EFF-2007-01-28 (Efficiency & Productivity)
- NEP-INO-2007-01-28 (Innovation)
- NEP-MAC-2007-01-28 (Macroeconomics)
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