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New Productivity Drivers: Revisiting the Role of Digital Capital, FDI and Integration at Aggregate and Sectoral Levels

Amat Adarov () and Robert Stehrer

No 178, wiiw Working Papers from The Vienna Institute for International Economic Studies, wiiw

Abstract: The paper studies the drivers of productivity at country and sectoral levels over the period 2000-2017 with the focus on the impact of capital accumulation and structure. The analysis confirms an especially important role of ICT and intangible digital capital for productivity growth, particularly in the manufacturing sectors. While backward global value chain participation and EU integration are also found to be instrumental for accelerating productivity growth, the impact of inward foreign direct investment is not robustly detected when the data is purged from the effects of special purpose entities and outlier countries.

Keywords: Productivity; digitalisation; ICT; intangible capital; FDI; capital accumulation; global value chains (search for similar items in EconPapers)
JEL-codes: F14 F15 F21 E22 O47 (search for similar items in EconPapers)
Pages: 59 pages including 18 Tables and 16 Figures
Date: 2020-04
New Economics Papers: this item is included in nep-eff, nep-fdg, nep-gen, nep-ict, nep-int, nep-mac and nep-tid
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