SPREAD OF ICT AND ECONOMIC GROWTH IN PACIFIC ISLAND COUNTRIES: A PANEL STUDY

Keshmeer Kanewar Makun () and T. K. Jayaraman ()
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Keshmeer Kanewar Makun: University of the South Pacific
T. K. Jayaraman: University of Tunku Abdul Rahman

Bulletin of Monetary Economics and Banking, 2020, vol. 23, issue Special Issue, 109-128

Abstract: This paper investigates the impact of information and communications technology (ICT) on economic growth in Pacific Island countries by employing an augmented production function model and panel data analysis from 2002 to 2017. The empirical findings reveal that ICT-related indicators have a positive and significant impact on the economic growth process, along with the fundamental variable of capital stock. The effect of control variables such as foreign direct investment and exports have a positive effect on the real gross domestic product per capita, whereas inflation has a negative effect. The sensitivity evaluation of ICT indicators with different control variables produces consistent evidence of ICT’s effect on economic growth. Policymakersas well as ICT stakeholders should enhance investments for improving ICT-relatedinfrastructure and promoting technology to boost economic growth in Pacific Islandcountries.

Keywords: ICT; Economic Growth; Pacific Island Countries; Panel Data (search for similar items in EconPapers)
JEL-codes: C22 O47 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:23:y:2020:i:spf:p:109-128

DOI: 10.21098/bemp.v23i0.1178

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