Productivity and ICT: a review of the evidence

Mirko Draca · Raffaella Sadun · John Michael Van Reenen

115 citations0/0 files storedRePEc: Research Papers in Economics

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Economic Growth and Productivity ICT Impact and Policies Economic Growth and Development

Abstract

We survey the micro and macro literature on the impact of Information and Communication Technologies (ICTs) on productivity. The "Solow Paradox" of the absence of an impact of ICT on productivity no longer holds, if it ever did. Both growth accounting and econometric evidence suggest an important role for ICTs in accounting for productivity. In fact, the empirical estimates suggest a much larger impact of ICT on productivity than would be expected from the standard neoclassical model that we focus on. We discuss the various explanations for these results, including the popular notion of complementary organizational capital. Finally, we offer suggestions for where the literature needs to go.

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References

1991Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations 1995Initial conditions and moment restrictions in dynamic panel data models 1957Technical Change and the Aggregate Production Function 2003Estimating Production Functions Using Inputs to Control for Unobservables 1999Endogenous Growth Theory 2002Information Technology, Workplace Organization, and the Demand for Skilled Labor: Firm-Level Evidence 1995General purpose technologies ‘Engines of growth’?2000The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?

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