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ICT diffusion and potential output growth

Author Info

  • Cette, Gilbert
  • Mairesse, Jacques
  • Kocoglu, Yusuf

Abstract

The sustained increase in productivity gains from the spread of ICTs may increase potential output growth in the medium to long term via capital deepening effects and total factor productivity (TFP) gains, and in the short to medium term via the lagged adjustment of wages to productivity gains. The orders of magnitude resulting from the assessment data presented indicate that the medium to long-term effect could be significant. However, there does not appear to be any empirical evidence to support the existence of the temporary short to medium-term effect.

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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 87 (2005)
Issue (Month): 2 (May)
Pages: 231-234

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Handle: RePEc:eee:ecolet:v:87:y:2005:i:2:p:231-234
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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Find related papers by JEL classification:
  • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
  • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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  1. Robert E. Litan & Alice M. Rivlin, 2001. "Projecting the Economic Impact of the Internet," American Economic Review, American Economic Association, vol. 91(2), pages 313-317, May.
  2. Stephen D. Oliner & Daniel E. Sichel, 2000. "The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 3-22, Fall.
  3. Laurence Ball & Robert R Tchaidze, 2001. "The Fed and the New Economy," Economics Working Paper Archive 465, The Johns Hopkins University,Department of Economics.
  4. Christopher Gust & Jaime Marquez, 2002. "International comparisons of productivity growth: the role of information technology and regulatory practices," International Finance Discussion Papers 727, Board of Governors of the Federal Reserve System (U.S.).
  5. Laurence Ball & N. Gregory Mankiw, 2002. "The NAIRU in Theory and Practice," Journal of Economic Perspectives, American Economic Association, vol. 16(4), pages 115-136, Fall.
  6. Paul Schreyer, 2000. "The Contribution of Information and Communication Technology to Output Growth: A Study of the G7 Countries," OECD Science, Technology and Industry Working Papers 2000/2, OECD Publishing.
  7. Gordon, Robert J, 2000. "Does the 'New Economy' Measure up to the Great Inventions of the Past?," CEPR Discussion Papers 2607, C.E.P.R. Discussion Papers.
  8. Kevin J. Stiroh, 2001. "What drives productivity growth?," Economic Policy Review, Federal Reserve Bank of New York, issue Mar, pages 37-59.
  9. Laurence Ball & Robert Moffitt, 2001. "Productivity Growth and the Phillips Curve," NBER Working Papers 8421, National Bureau of Economic Research, Inc.
  10. Cette, G. & Mairesse, J. & Kocoglu, Y., 2004. "ICT Diffusion and Potential Output Growth," Working papers 112, Banque de France.
  11. Dirk Pilat & Frank C. Lee, 2001. "Productivity Growth in ICT-producing and ICT-using Industries: A Source of Growth Differentials in the OECD?," OECD Science, Technology and Industry Working Papers 2001/4, OECD Publishing.
  12. Ark, Bart van, 2002. "ICT investments and growth accounts for the European Union," GGDC Research Memorandum 200256, Groningen Growth and Development Centre, University of Groningen.
  13. Nicholas Oulton, 2002. "ICT and Productivity Growth in the United Kingdom," Oxford Review of Economic Policy, Oxford University Press, vol. 18(3), pages 363-379.
  14. Ho, Mun & Jorgenson, Dale & Stiroh, Kevin, 2002. "Projecting Productivity Growth: Lessons from the U.S. Growth Resurgence," Discussion Papers dp-02-42, Resources For the Future.
  15. Stephen D. Oliner & Daniel E. Sichel, 2002. "Information technology and productivity: where are we now and where are we going?," Finance and Economics Discussion Series 2002-29, Board of Governors of the Federal Reserve System (U.S.).
  16. Dale W. Jorgenson, 2007. "Information Technology and the G7 Economies," NBER Chapters, in: Hard-to-Measure Goods and Services: Essays in Honor of Zvi Griliches, pages 325-350 National Bureau of Economic Research, Inc.
  17. Dale W. Jorgenson, 2001. "Information Technology and the U.S. Economy," American Economic Review, American Economic Association, vol. 91(1), pages 1-32, March.
  18. Christopher Gust & Jaime Marquez, 2000. "Productivity developments abroad," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Oct, pages 665-681.
  19. Jacques Mairesse & Gilbert Cette & Yussuf Kocoglu, 2000. "La mesure de l'investissement en technologies de l'information et de la communication : quelques considérations méthodologiques," Économie et Statistique, Programme National Persée, vol. 339(1), pages 73-91.
  20. Crafts, Nicholas, 2002. "The Solow Productivity Paradox in Historical Perspective," CEPR Discussion Papers 3142, C.E.P.R. Discussion Papers.
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Cited by:

  1. Baghli, M. & Cahn, C. & Villetelle, J-P., 2006. "Estimating Potential Output with a Production Function for France, Germany and Italy," Working papers 146, Banque de France.
  2. Gilbert Cette & Christian Pfister, 2004. "Challenges of the “New Economy” for Monetary Policy," International Productivity Monitor, Centre for the Study of Living Standards, vol. 8, pages 27-36, Spring.
  3. Francesco Venturini, 2009. "The long-run impact of ICT," Empirical Economics, Springer, vol. 37(3), pages 497-515, December.
  4. Nicholas Oulton, 2010. "Long Term Implications of the ICT Revolution: Applying the Lessons of Growth Theory and Growth Accounting," CEP Discussion Papers dp1027, Centre for Economic Performance, LSE.
  5. Christophe Cahn & Arthur Saint-Guilhem, 2010. "Potential output growth in several industrialised countries a comparison," Empirical Economics, Springer, vol. 39(1), pages 139-165, August.
  6. Nicholas Oulton, 2013. "Medium and long run prospects for UK growth in the aftermath of the financial crisis," LSE Research Online Documents on Economics 57996, London School of Economics and Political Science, LSE Library.
  7. Cette, G. & Mairesse, J. & Kocoglu, Y., 2004. "ICT Diffusion and Potential Output Growth," Working papers 112, Banque de France.
  8. Patrick Bongo, 2005. "The Impact of ICT on Economic Growth," Development and Comp Systems 0501008, EconWPA.
  9. Choi, Changkyu, 2010. "The effect of the Internet on service trade," Economics Letters, Elsevier, vol. 109(2), pages 102-104, November.

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