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ICT and Productivity Resurgence: A Growth Model for the Information Age


  • Venturini Francesco

    () (Polytechnic University of Marche)


Since the mid-1990s, extraordinary advances in semiconductors have enhanced the embodied nature of information technology, fuelling efficiency growth in computers and communication equipment industries. The consequent fall in prices has enabled the rapid diffusion of these new technologies, which have reached the critical threshold to foster productivity growth. In light of the recent growth pattern of the United States, this paper presents a model where the endogenous engine of development is the learning-by-doing process stemming from the usage of ICT for investment and consumption. Based on a two-sector framework (à la Whelan) that distinguishes between ICT-producers and -users, the model yields a sound representation of the stylized facts of the Information Age.

Suggested Citation

  • Venturini Francesco, 2007. "ICT and Productivity Resurgence: A Growth Model for the Information Age," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-26, August.
  • Handle: RePEc:bpj:bejmac:v:7:y:2007:i:1:n:31

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    References listed on IDEAS

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    Cited by:

    1. Venturini, Francesco, 2012. "Product variety, product quality, and evidence of endogenous growth," Economics Letters, Elsevier, vol. 117(1), pages 74-77.
    2. Francesco VENTURINI, 2008. "Information Technology, Research & Development, or Both? What Really Drives A Nation's Productivity," Working Papers 321, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    3. Jakob B. Madsen & Antonio Minniti & Francesco Venturini, 2015. "Assessing Piketty’s laws of capitalism," Monash Economics Working Papers 34-15, Monash University, Department of Economics.
    4. Luca RICCETTI, 2010. "Minimum Tracking Error Volatility," Working Papers 340, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    5. Md Shahiduzzaman & Allan Layton & Khorshed Alam, 2015. "On the contribution of information and communication technology to productivity growth in Australia," Economic Change and Restructuring, Springer, vol. 48(3), pages 281-304, November.
    6. Ugo FRATESI, 2010. "The National and International Effects;of Regional Policy Choices: Agglomeration Economies, Peripherality and Territorial Characteristics," Working Papers 344, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    7. Fabio FIORILLO & Agnese SACCHI, 2010. "I Want to Free-ride. An Opportunistic View on Decentralization Versus Centralization Problem," Working Papers 346, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    8. Jerbashian, Vahagn, 2015. "The telecommunications industry and economic growth: How the market structure matters," Economic Modelling, Elsevier, vol. 51(C), pages 515-523.
    9. Venturini, Francesco, 2012. "Looking into the black box of Schumpeterian growth theories: An empirical assessment of R&D races," European Economic Review, Elsevier, vol. 56(8), pages 1530-1545.
    10. Mohammad Jamali & Hatra Voghouei & Nor Md Nor, 2014. "Information technology and survival of firms," Netnomics, Springer, vol. 15(2), pages 107-119, September.
    11. Francesco Venturini, 2011. "Product variety, product quality, and evidence of Schumpeterian endogenous growth: a note," Quaderni del Dipartimento di Economia, Finanza e Statistica 93/2011, Università di Perugia, Dipartimento Economia.
    12. Fabio Pieri & Michela Vecchi & Francesco Venturini, 2017. "Modelling the joint impact of R&D and ICT on productivity: A frontier analysis approach," DEM Working Papers 2017/13, Department of Economics and Management.
    13. Venturini, Francesco, 2015. "The modern drivers of productivity," Research Policy, Elsevier, vol. 44(2), pages 357-369.

    More about this item

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models


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