ICT and Economic Growth: Evidence from Twelve MENA Economies

Subaran Roy, Abdel Moneim M. B. Ahmed and Abdullah A. Abonamah
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Subaran Roy: UAE Academy, Abu Dhabi, UAE
Abdel Moneim M. B. Ahmed: UAE Academy, Abu Dhabi, UAE
Abdullah A. Abonamah: UAE Academy, Abu Dhabi, UAE

International Journal of Customer Relationship Marketing and Management (IJCRMM), 2014, vol. 5, issue 1, 16-30

Abstract: Technological progress is a significant factor that drives economic growth. One of the most visible evidence of modern technological progress is Information and Communication Technology (ICT). In this paper we examine the importance of ICT in the context of economic growth. Based on the availability of data a group of 12 MENA economies (including GCC countries) are included in the study for the time period 1995-2007. A first look on the data clearly indicates huge increase in the use of internet, personal computers, land lines and cell phones for most of the countries in the sample. Using the error component model with Autoregressive disturbance of order 1 [AR(1)] results indicate significant evidence for 3 measures of ICT in enhancing economic growth. To avoid biased estimates in all results we always control for the other relevant variables that can potentially affect economic growth. Results are robust to inclusion of the other variables.

Date: 2014
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