IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

ICT, innovation and the e-economy

  • Brynjolfsson, Erik

    ()

    (Massachusetts Institute of Technology (MIT))

The revival in US productivity growth since the mid-1990s is linked to a surge in investment in information and communication technologies (ICT). Against the backdrop of a weakening link between productivity and traditional innovation inputs (e.g. R&D expenditure), digitization has spurred productivity through innovations in management techniques, business models, work processes and human resource practices. More fundamentally, digitization is changing the way innovation itself is done, opening the prospect of a long-term increase in the overall rate of innovation. Over time, this will dwarf the benefits from any particular innovation. Digitization is transforming innovation in four ways: 1) improved real-time measurement of business activities; 2) faster and cheaper business experimentation; 3) more widespread and easier sharing of ideas; and 4) the ability to replicate innovations more quickly and more accurately. This mutually reinforcing sequence amounts to a new kind of R&D, with far-reaching implications for public policy.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.eib.org/attachments/efs/eibpapers/eibpapers_2011_v16_n02_en.pdf#page=62
File Function: Full text
Download Restriction: no

Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 8/2011.

as
in new window

Length: 17 pages
Date of creation: 21 Dec 2011
Date of revision:
Handle: RePEc:ris:eibpap:2011_008
Contact details of provider: Postal: 100, boulevard Konrad Adenauer, L-2950 Luxembourg
Phone: (+352) 43 79 1
Fax: (+352) 43 79 68 895
Web page: http://www.eib.org/efs/
Email:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Rachel Griffith & Sokbae Lee & John Van Reenen, 2007. "Is Distance Dying at Last? Falling Home Bias in Fixed Effects Models of Patent Citations," CEP Discussion Papers dp0818, Centre for Economic Performance, LSE.
  2. Heidi L. Williams, 2010. "Intellectual Property Rights and Innovation: Evidence from the Human Genome," NBER Working Papers 16213, National Bureau of Economic Research, Inc.
  3. Sah, Raaj Kumar & Stiglitz, Joseph E, 1986. "The Architecture of Economic Systems: Hierarchies and Polyarchies," American Economic Review, American Economic Association, vol. 76(4), pages 716-27, September.
  4. Mobius, Markus & Rosenblat, Tanya, 2004. "Getting Closer or Drifting Apart," Scholarly Articles 3043419, Harvard University Department of Economics.
  5. Alex (Sandy) Pentland, 2008. "Honest Signals: How They Shape Our World," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262162563, June.
  6. Claudia Goldin & Lawrence F. Katz, 2008. "Transitions: Career and Family Life Cycles of the Educational Elite," American Economic Review, American Economic Association, vol. 98(2), pages 363-69, May.
  7. Nick Bloom & Raffaella Sadun & John Van Reenen, 2007. "Americans Do I.T. Better: US Multinationals and the Productivity Miracle," CEP Discussion Papers dp0788, Centre for Economic Performance, LSE.
  8. Brynjolfsson, Erik, 2011. "Wired for Innovation: How Information Technology Is Reshaping the Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262013666, June.
  9. Kevin J. Stiroh, 2002. "Information Technology and the U.S. Productivity Revival: What Do the Industry Data Say?," American Economic Review, American Economic Association, vol. 92(5), pages 1559-1576, December.
  10. Erik Brynjolfsson & Yu (Jeffrey) Hu & Michael D. Smith, 2003. "Consumer Surplus in the Digital Economy: Estimating the Value of Increased Product Variety at Online Booksellers," Management Science, INFORMS, vol. 49(11), pages 1580-1596, November.
  11. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2004. "Will the U.S. productivity resurgence continue?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 10(Dec).
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ris:eibpap:2011_008. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Polyxeni Kanelliadou)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.