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Information Technology and The World Growth Resurgence

Author

Listed:
  • Dale W. Jorgenson
  • Khuong Vu

Abstract

This paper analyzes the impact of investment in information technology (IT) on the recent resurgence of world economic growth. We describe the growth of the world economy, seven regions, and fourteen major economies during the period 1989-2004. We allocate the growth of world output between input growth and productivity and find, surprisingly, that input growth greatly predominates! Moreover, differences in per capita output levels are explained by differences in per capita input, rather than variations in productivity. The contributions of IT investment have increased in all regions, but especially in industrialized economies and Developing Asia.

Suggested Citation

  • Dale W. Jorgenson & Khuong Vu, 2006. "Information Technology and The World Growth Resurgence," Hi-Stat Discussion Paper Series d06-181, Institute of Economic Research, Hitotsubashi University.
  • Handle: RePEc:hst:hstdps:d06-181
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    File URL: http://hi-stat.ier.hit-u.ac.jp/research/discussion/2006/pdf/D06-181.pdf
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    More about this item

    Keywords

    growth; investment; productivity; information technology;

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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