IT CAPITAL AND ECONOMIC GROWTH IN JAPAN

Yasuo Nakanishi

MPRA Paper from University Library of Munich, Germany

Abstract: This article presents an empirical investigation of the role of IT（Information Technology）capital in the Japanese macroeconomy, with a particular focus on the adjustment of IT capital stock. We use the Translog model in this study and treat IT capital as the only quasi-fixed factor. We found that the shadow price of IT capital was largely decreased, and that there was a significant difference in the shadow prices between the beginning of the measurement periods and in recent years. There was also a high investment incentive in most periods. We found evidence for the contribution of IT capital to labor productivity, and our findings are consistent with the proposition that IT capital contributes to output growth.

Keywords: IT capital; Translog model; productivity (search for similar items in EconPapers)
JEL-codes: D21 D24 O33 (search for similar items in EconPapers)
Date: 2011-10-10
New Economics Papers: this item is included in nep-cis and nep-eff
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:34178

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