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ICT-specific technological change and productivity growth in the US 1980-2004

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  • Diego Martínez López

    ()
    (Department of Economics, Universidad Pablo de Olavide)

  • Jesús Rodríguez López

    ()
    (Department of Economics, Universidad Pablo de Olavide)

  • José Luis Torres Chacón

    ()
    (Departamento de Teoría e Historia Económica, Universidad de Málaga)

Abstract

This paper studies the impact of the information and communication technologies (ICT) on U.S. economic growth using a dynamic general equilibrium approach. We use a production function with six different capital inputs, three of them corresponding to ICT assets and other three to non-ICT assets. We find that the technological change embedded in hardware equipment is the main leading non-neutral force of the U.S. productivity growth and accounts for about one quarter of it during the period 1980-2004. As a whole, ICT-specific technological change accounts for about 35% of total labor productivity growth.

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Bibliographic Info

Paper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 08.05.

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Length: 21 pages
Date of creation: Mar 2008
Date of revision:
Handle: RePEc:pab:wpaper:08.05

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Keywords: New economy; information and communication technologies; specific-technological change; neutral-technological change.;

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  1. Michael R. Pakko, 2001. "What happens when the technology growth trend changes?: transition dynamics, capital growth and the "new economy"," Working Papers, Federal Reserve Bank of St. Louis 2001-020, Federal Reserve Bank of St. Louis.
  2. Jalava, Jukka & Pohjola, Matti, 2001. "Economic Growth in the New Economy. Evidence from Advanced Economies," 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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  5. Jesús Rodríguez López & Diego Martínez López & José Luis Torres Chacón, 2007. "The Productivity Paradox and the New Economy: The Spanish Case," Working Papers, Universidad Pablo de Olavide, Department of Economics 07.01, Universidad Pablo de Olavide, Department of Economics.
  6. Samaniego, Roberto M., 2006. "Organizational capital, technology adoption and the productivity slowdown," Journal of Monetary Economics, Elsevier, Elsevier, vol. 53(7), pages 1555-1569, October.
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  11. Alessandra Colecchia & Paul Schreyer, 2002. "ICT Investment and Economic Growth in the 1990s: Is the United States a Unique Case? A Comparative Study of Nine OECD Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 408-442, April.
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  17. Greenwood, J. & Hercowitz, Z. & Krusell, P., 1998. "The Role of Investment-Specific Technological Change in the Business Cycle," RCER Working Papers, University of Rochester - Center for Economic Research (RCER) 449, University of Rochester - Center for Economic Research (RCER).
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  20. Mehmet Yorukoglu, 1998. "The Information Technology Productivity Paradox," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 551-592, April.
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Cited by:
  1. Jesus Lopez-Rodriguez & Diego Martinez, 2014. "Beyond the R&D effects on innovation: the contribution of non-R&D activities to TFP growth in the EU," Working Papers 2014/16, Institut d'Economia de Barcelona (IEB).
  2. Keesookpuna, Chutipong & Mitomob, Hitoshi, 2011. "Examining the relationship of communication service utilisation and productivity of labour in the developing country: A case study of Thailand," 8th Asia-Pacific Regional ITS Conference, Taipei 2011: Convergence in the Digital Age, International Telecommunications Society (ITS) 52329, International Telecommunications Society (ITS).
  3. Keesookpuna, Chutipong & Mitomob, Hitoshi, 2012. "A developmental framework for ICT and labour productivity in the developing country: A case study of Thailand," 23rd European Regional ITS Conference, Vienna 2012, International Telecommunications Society (ITS) 60378, International Telecommunications Society (ITS).
  4. Vu, Khuong M., 2013. "Information and Communication Technology (ICT) and Singapore’s economic growth," Information Economics and Policy, Elsevier, Elsevier, vol. 25(4), pages 284-300.

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