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The contribution of ICT to economic activity: a growth accounting exercise with Spanish firm-level data

  • Ignacio Hernando

    ()

    (Banco de España)

  • Soledad Núñez

    ()

    (Banco de España)

Registered author(s):

    This paper applies a well-established growth accounting framework to measure the contribution of ICT inputs to output and labour productivity growth in Spain, using a sample of 1300 firms per year over 1991-2000. Firm-level data are helpful to overcome the availability lags and the mismeasurement of capital stocks associated with the use of aggregate data. We find that: 1) The use of ICT inputs has made a positive and significant contribution to output and productivity growth. 2) This contribution was higher in the second half of the 1990s. 3) At a sectoral level, there is a general rise in the share of ICT in total capital and a general reduction in ICT cost shares. (Copyright: Fundación SEPI)

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    Article provided by Fundación SEPI in its journal Investigaciones Económicas.

    Volume (Year): 28 (2004)
    Issue (Month): 2 (May)
    Pages: 315-348

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    Handle: RePEc:iec:inveco:v:28:y:2004:i:2:p:315-348
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    1. Erik Brynjolfsson & Lorin Hitt, 1996. "Paradox Lost? Firm-Level Evidence on the Returns to Information Systems Spending," Management Science, INFORMS, vol. 42(4), pages 541-558, April.
    2. Brynjolfsson, Erik & Hitt, Lorin M., 2004. "Computing Productivity: Firm-Level Evidence," Working papers 4210-01, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    3. Ángel Estrada & David López-Salido, 2001. "Accounting for Spanish productivity growth using sectoral data: New Evidence," Banco de Espa�a Working Papers 0110, Banco de Espa�a.
    4. Karl Whelan, 2002. "Computers, Obsolescence, And Productivity," The Review of Economics and Statistics, MIT Press, vol. 84(3), pages 445-461, August.
    5. repec:cup:cbooks:9780521453455 is not listed on IDEAS
    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. Matteo Bugamelli & Patrizio Pagano, 2001. "Barriers to investment in ICT," Temi di discussione (Economic working papers) 420, Bank of Italy, Economic Research and International Relations Area.
    8. Albers, Ronald & Vijselaar, Focco, 2002. "New technologies and productivity growth in the euro area," Working Paper Series 0122, European Central Bank.
    9. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: U.S. Economic Growth in the Information Age," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
    10. Ignacio Hernando & Soledad Núñez, 2002. "The contribution of ICT to economic activity: a growth accounting exercise with Spanish firm-level data," Banco de Espa�a Working Papers 0203, Banco de Espa�a.
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