ICT and productivity growth in the 1990s: panel data evidence on Europe

What has been the quantitative effect on productivity growth of information and communication technology (ICT) in Europe after 1995? Based on a multi-country sectoral panel data set, the authors provide econometric evidence of positive and significant productivity effects of ICT in Europe, mainly du...

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Bibliographic Details
Published in:Empirical economics 2011-02, Vol.40 (1), p.141-164
Main Authors: Dahl, Christian M., Kongsted, Hans Christian, Sørensen, Anders
Format: Article
Language:English
Subjects:
Capital expenditures
Econometrics
Economic theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Finance
Growth rate
Information technology
Insurance
Labor productivity
Management
Mathematical analysis
Productivity measurement
Statistics for Business
Studies
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Summary:What has been the quantitative effect on productivity growth of information and communication technology (ICT) in Europe after 1995? Based on a multi-country sectoral panel data set, the authors provide econometric evidence of positive and significant productivity effects of ICT in Europe, mainly due to advances in total factor productivity. The impact of ICT in Europe has happened against a negative macro economic shock not related to ICT. This is in contrast to the established evidence for the US. Our main results challenge the consensus in the growth-accounting literature that there has been no acceleration of productivity growth in Europe, mainly due to a dismal performance of ICT-using sectors.
ISSN:0377-7332
1435-8921
DOI:10.1007/s00181-010-0421-4