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The New Economy in Europe, 1992-2001

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  • Daveri, Francesco

Abstract

Despite the fast catching up in the diffusion of information and communication technologies (ICT) experienced by most EU countries in the last few years, information technologies have so far delivered few productivity gains in Europe. In the second half of the past decade, the growth contributions from ICT capital rose in six EU countries only (the UK, Denmark, Finland, Sweden, Ireland, and Greece). Unlike in the USA, this has not generally been associated with higher labour or total factor productivity (TFP) growth rates, the only exceptions being Ireland and Greece. Particularly worrying, the large countries in Continental Europe (Germany, France, Italy, and Spain) showed stagnating or mildly declining growth contributions from ICT capital, together with definite declines in TFP growth compared to the first half of the 1990s. It looks as though the celebrated 'Solow paradox' on the lack of correlation between ICT investment and productivity growth has fled the USA and come to Europe. Copyright 2002, Oxford University Press.

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Bibliographic Info

Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Paper Series with number UNU-WIDER Research Paper DP2002/70.

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Length: 30 pages
Date of creation: 2002
Date of revision:
Handle: RePEc:unu:wpaper:dp2002-70

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Keywords: economic growth; productivity growth; Europe; information and communication technologies; total factor productivity;

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References

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  1. Boyan Jovanovic & Jeremy Greenwood, 1999. "The Information-Technology Revolution and the Stock Market," American Economic Review, American Economic Association, vol. 89(2), pages 116-122, May.
  2. repec:fth:eeccco:147 is not listed on IDEAS
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Citations

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Cited by:
  1. Samoilenko, Sergey & Osei-Bryson, Kweku-Muata, 2008. "An exploration of the effects of the interaction between ICT and labor force on economic growth in transition economies," International Journal of Production Economics, Elsevier, vol. 115(2), pages 471-481, October.
  2. Ortega-Argilés, Raquel & Piva, Mariacristina & Vivarelli, Marco, 2011. "The Transatlantic Productivity Gap: Is R&D the Main Culprit?," IZA Discussion Papers 5586, Institute for the Study of Labor (IZA).
  3. Lach, Saul & Shiff, Gil & Trajtenberg, Manuel, 2008. "Together but Apart: ICT and Productivity Growth in Israel," CEPR Discussion Papers 6732, C.E.P.R. Discussion Papers.
  4. Carolina Castaldi & Giovanni Dosi, 2008. "Technical Change and Economic Growth: Some Lessons from Secular Patterns and Some Conjectures on the Current Impact of ICT Technology," LEM Papers Series 2008/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  5. Georg Duernecker, 2014. "Technology Adoption, Turbulence, And The Dynamics Of Unemployment," Journal of the European Economic Association, European Economic Association, vol. 12(3), pages 724-754, 06.
  6. Meijers, Huub, 2007. "ICT Externalities: Evidence from cross country data," MERIT Working Papers 021, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  7. Raquel Ortega-Argilés, 2012. "The Transatlantic Productivity Gap: A Survey Of The Main Causes," Journal of Economic Surveys, Wiley Blackwell, vol. 26(3), pages 395-419, 07.
  8. Francesco Venturini, 2005. "How Much Does IT Consumption Matter for Growth? Evidence from National Accounts," Rivista di Politica Economica, SIPI Spa, vol. 95(1), pages 57-110, January-F.
  9. Sanghamitra Bandyopadhyay, 2006. "Knowledge-Driven Economic Development," Economics Series Working Papers 267, University of Oxford, Department of Economics.
  10. Sanghamitra Bandyopadhyay, 2005. "Knowledge-based economic development: mass media and the weightless economy," LSE Research Online Documents on Economics 6547, London School of Economics and Political Science, LSE Library.
  11. Woerter, Martin & Roper, Stephen, 2010. "Openness and innovation--Home and export demand effects on manufacturing innovation: Panel data evidence for Ireland and Switzerland," Research Policy, Elsevier, vol. 39(1), pages 155-164, February.
  12. Vu, Khuong M., 2013. "Information and Communication Technology (ICT) and Singapore’s economic growth," Information Economics and Policy, Elsevier, vol. 25(4), pages 284-300.
  13. Francesco Quatraro, 2011. "ICT capital and services complementarities: the Italian evidence," Applied Economics, Taylor & Francis Journals, vol. 43(20), pages 2603-2613.
  14. Burak Karagöl & Erkan Erdil, 2012. "Macroeconomic Effects of Information and Communication Technologies in Turkey and Other OECD Member Countries," STPS Working Papers 1205, STPS - Science and Technology Policy Studies Center, Middle East Technical University, revised May 2012.
  15. Marcin Piatkowski, 2004. "Does ICT Investment Matter for Growth and Labor Productivity in Transition Economies?," Development and Comp Systems 0402008, EconWPA.
  16. Daniel Gros, 2005. "Perspectives for the Lisbon Strategy: How to increase the competitiveness of the European economy?," CASE Network Studies and Analyses 0308, CASE-Center for Social and Economic Research.
  17. Dale W. Jorgenson & Khuong Vu, 2006. "Information Technology and The World Growth Resurgence," Hi-Stat Discussion Paper Series d06-181, Institute of Economic Research, Hitotsubashi University.
  18. Andreas Kuhlmann, 2006. "German Productivity - A Reassessment via the New Ifo Productivity Database," Ifo Working Paper Series Ifo Working Papers No. 35, Ifo Institute for Economic Research at the University of Munich.

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