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Information Technology and the G7 Economies

Author

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  • Dale W. Jorgenson

Abstract

A powerful surge in investment in information technology and equipment after 1995 characterizes all of the G7 economies. This accounts for a large portion of the resurgence in US economic growth, but contributes substantially to economic growth in the remaining G7 economies as well. Another significant source of the G7 growth resurgence after 1995 is a jump in productivity growth in IT-producing industries. These findings are based on new data and new methodology for analyzing the sources of economic growth. Internationally harmonized prices for information technology equipment and software are essential for capturing differences among the G7 nations.

Suggested Citation

  • Dale W. Jorgenson, 2003. "Information Technology and the G7 Economies," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 4(4), pages 139-169, October.
    • Handle: RePEc:wej:wldecn:161
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    Cited by:

    1. Dale W. Jorgenson, 2005. "Les technologies de l’information et les économies du G7," L'Actualité Economique, Société Canadienne de Science Economique, vol. 81(1), pages 15-45.
    2. Oulton, Nicholas & Srinivasan, Sylaja, 2005. "Productivity growth and the role of ICT in the United Kingdom: an industry view, 1970-2000," LSE Research Online Documents on Economics 19901, London School of Economics and Political Science, LSE Library.
    3. PASHKEVICH, Volha & HAFTOR, Darek M. & PASHKEVICH, Natallia, 2021. "The information sector in Denmark and Sweden: Value, employment, wages," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    4. Jones, Siôn & Jones, Pau, 2006. "e-Communications: Investment and the Regulatory Framework," MPRA Paper 3568, University Library of Munich, Germany.
    5. Cette, Gilbert & Mairesse, Jacques & Kocoglu, Yusuf, 2005. "ICT diffusion and potential output growth," Economics Letters, Elsevier, vol. 87(2), pages 231-234, May.
    6. Dirk Pilat & Paul Schreyer, 2004. "The OECD Productivity Database: An Overview," International Productivity Monitor, Centre for the Study of Living Standards, vol. 8, pages 59-65, Spring.
    7. John R. Baldwin & Tarek M. Harchaoui, 2006. "The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead," NBER Chapters, in: A New Architecture for the US National Accounts, pages 439-470, National Bureau of Economic Research, Inc.
    8. Selahattin Imrohoroglu & Ayse Imrohoroglu & Kaiji Chen, 2006. "The Japanese Saving Rate," American Economic Review, American Economic Association, vol. 96(5), pages 1850-1858, December.
    9. Nirvikar Singh, 2008. "Transaction costs, information technology and development," Indian Growth and Development Review, Emerald Group Publishing Limited, vol. 1(2), pages 212-236, September.
    10. 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.
    11. Mr. Marcello M. Estevão, 2004. "Why is Productivity Growth in the Euro Area so Sluggish?," IMF Working Papers 2004/200, International Monetary Fund.
    12. Fernando Lera & Margarita Billón, 2004. "The North-South Digital Divide in Information and Communication Technologies Development: the Case for Spanish Regions," ERSA conference papers ersa04p307, European Regional Science Association.
    13. Johanna Melka & Laurence Nayman, 2005. "L’impact des nouvelles technologies de l’information sur la croissance française, 1980-2001," L'Actualité Economique, Société Canadienne de Science Economique, vol. 81(1), pages 75-110.
    14. Jake Kendall & Nirvikar Singh, 2006. "Internet Kiosks in Rural India: What Influences Success?," Working Papers 06-05, NET Institute, revised Sep 2006.
    15. Liu, Ting-Kun & Chen, Jong-Rong & Huang, Cliff J. & Yang, Chih-Hai, 2014. "Revisiting the productivity paradox: A semiparametric smooth coefficient approach based on evidence from Taiwan," Technological Forecasting and Social Change, Elsevier, vol. 81(C), pages 300-308.
    16. Luca Guerrieri & Dale Henderson, 2005. "Investment-Specific and Multifactor Productivity in Multi-Sector Open Economies:Data and Analysis," Computing in Economics and Finance 2005 143, Society for Computational Economics.
    17. Zhang, Fan & Meng, Lei & Sun, Wen & Si, Yanwu, 2021. "Information technology and the labor market in China," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 156-168.
    18. Nicholas Oulton & Sylaja Srinivasan, 2005. "Productivity growth in UK industries, 1970-2000: structural change and the role of ICT," Bank of England working papers 259, Bank of England.
    19. Dirk Pilat, 2005. "Canada's Productivity Performance in International Perspective," International Productivity Monitor, Centre for the Study of Living Standards, vol. 10, pages 24-44, Spring.
    20. Zelenyuk, Valentin, 2005. "Testing the impact of ICT in developed countries during 1980-1995: distributional analysis in Solow’s growth accounting framework," MPRA Paper 28029, University Library of Munich, Germany, revised Dec 2010.
    21. Gilbert Cette & Jimmy Lopez & Pierre-Alexandre Noual, 2005. "Investment in ICTs: an empirical analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 12(5), pages 309-312.
    22. 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.

    More about this item

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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