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The IT Revolution and the Stock Market

Jeremy Greenwood and Boyan Jovanovic ()

No 460, RCER Working Papers from University of Rochester - Center for Economic Research (RCER)

Abstract: Technological progress comes in waves. The birth of information technology (IT) may herald the start of a Third Industrial Revolution. This paper argues that (a) the market declined in the late 1960s because it felt that the old technologies either had lost their momentum or would give way to IT, and that (b) IT innovators boosted the stock market's value only in the 1980s.

Keywords: STOCK MARKET; INFORMATION; TECHNOLOGY (search for similar items in EconPapers)
JEL-codes: D82 O32 G10 (search for similar items in EconPapers)
Pages: 15 pages
Date: 1999
New Economics Papers: this item is included in nep-fmk, nep-his, nep-ind and nep-ino
References: Add references at CitEc
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Persistent link: https://EconPapers.repec.org/RePEc:roc:rocher:460

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