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Information technology and the world economy

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  • Dale W. Jorgenson
  • Khuong Vu

Abstract

The purpose of this paper is to analyze the impact of investment in information technology (IT) equipment and software on the recent resurgence in world economic growth. The crucial role of IT investment in the growth of the U.S. economy has been thoroughly documented and widely discussed. Jorgenson (2001) has shown that the remarkable behavior of IT prices is the key to understanding the resurgence of American economic growth. This behavior can be traced to developments in semiconductor technology that are widely understood by technologists and economists.

Suggested Citation

  • Dale W. Jorgenson & Khuong Vu, 2005. "Information technology and the world economy," Proceedings, Federal Reserve Bank of San Francisco.
  • Handle: RePEc:fip:fedfpr:y:2005:x:26
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    References listed on IDEAS

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    1. Daniel Kaufmann & Aart Kraay & Massimo Mastruzzi, 2004. "Governance Matters III: Governance Indicators for 1996, 1998, 2000, and 2002," World Bank Economic Review, World Bank Group, vol. 18(2), pages 253-287.
    2. Piatkowski, Marcin & Bart, van Ark, 2005. "ICT and Productivity Growth in Transition Economies: Two-Phase Convergence and Structural Reforms," MPRA Paper 29398, University Library of Munich, Germany.
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