The Long-Run Impact of ICT

Francesco Venturini ()

No 254, Working Papers from Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali

Abstract: Using some new techniques of panel cointegration analysis, this paper describes the long-run impact of digital capital on the aggregate performance of the US and EU-15 member countries. ICT is found to significantly impact on output levels without substantial cross-country variation when one adopts the dynamic extension of panel OLS (PDOLS). In this case, however, the long-run elasticity of factor inputs does not differ from the one estimated in the short-run. The time-series version of seemingly unrelated regression (DSUR) provides more plausible findings, showing a significant cross-countries heterogeneity. The effect of ICT on growth appears relevant - and higher than emerging from short-differences - for most economies but not for the EU largest countries.

Keywords: ICT; economic growth; panel cointegration analysis (search for similar items in EconPapers)
JEL-codes: C33 E20 O47 (search for similar items in EconPapers)
Pages: 38
Date: 2006-03
New Economics Papers: this item is included in nep-eff and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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http://docs.dises.univpm.it/web/quaderni/pdf/254.pdf First version, 2006 (application/pdf)

Related works:
Journal Article: The long-run impact of ICT (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:anc:wpaper:254

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