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- W2182433554 abstract "What accounts for the exceptional TFP growth performance in some ICT-using industries after the mid-1990s in the U.S. and to some extent in few other OECD countries? Most commentators have pointed to enormous productivity gains in the production of Information and Communications Technology (ICT) as the answer. But according to standard neoclassical theory, technical progress in upstream industry should not raise TFP growth in downstream industries. This paper investigates two explanations for this apparent puzzle, one based on the existence of intangible capital that is not measured in the National Income Accounts, and the other based on productive externalities of ICT use. Using newly constructed comprehensive data covering 16 OECD countries for 24 industries for a period of 32 years, we find evidence of intangible capital accumulation, but no evidence of positive spillovers to ICT investment. These results are robust across different estimation techniques and under different assumptions regarding market structure. (JEL: E22, O3, O47)" @default.
- W2182433554 created "2016-06-24" @default.
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- W2182433554 date "2015-08-27" @default.
- W2182433554 modified "2023-10-01" @default.
- W2182433554 title "ICT use and total factor productivity growth: intangible capital or productive externalities?" @default.
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- W2182433554 doi "https://doi.org/10.1093/oep/gpv058" @default.
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