ITC investment, GDP and stock market values in Asia-Pacific NIC and developing countries

Martin Feinberg and Damir Tokic

Journal of the Asia Pacific Economy, 2004, vol. 9, issue 1, 70-84

Abstract: This study provides some evidence against the 'productivity paradox' in Asia-Pacific newly industrialized countries (NIC) and developing countries during the 1992-2001 period. The results show that information and communication technology (ITC) investments positively and significantly affect the GDP and stock market values in each of the analyzed Asia-Pacific NICs and developing countries: Hong Kong, Indonesia, South Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand. ITC-boosted growth increased national productivity, which translated into increased expectations of future profitability at the firm level and positively affected the values of the respective stock markets.

Date: 2004
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DOI: 10.1080/13547860310001628302

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