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It Capital And Economic Growth In Japan

Author

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  • Nakanishi, Yasuo

Abstract

This article presents an empirical investigation of the role of IT(Information Technology)capital in the Japanese macroeconomy, with a particular focus on the adjustment of IT capital stock. We use the Translog model in this study and treat IT capital as the only quasi-fixed factor. We found that the shadow price of IT capital was largely decreased, and that there was a significant difference in the shadow prices between the beginning of the measurement periods and in recent years. There was also a high investment incentive in most periods. We found evidence for the contribution of IT capital to labor productivity, and our findings are consistent with the proposition that IT capital contributes to output growth.

Suggested Citation

  • Nakanishi, Yasuo, 2011. "It Capital And Economic Growth In Japan," MPRA Paper 34178, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:34178
    as

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    File URL: https://mpra.ub.uni-muenchen.de/34178/1/MPRA_paper_34178.pdf
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    References listed on IDEAS

    as
    1. Berndt, Ernst R. & Morrison, Catherine J., 1995. "High-tech capital formation and economic performance in U.S. manufacturing industries An exploratory analysis," Journal of Econometrics, Elsevier, vol. 65(1), pages 9-43, January.
    2. Dale W. Jorgenson, 2001. "Information Technology and the U.S. Economy," American Economic Review, American Economic Association, vol. 91(1), pages 1-32, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    IT capital; Translog model; productivity;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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