ICT growth effects at the industry level: A comparison between the US and the EU

Information Economics and Policy

Volumn 23, Issue 1, 2011, Pages 37-50

  Dimelis, Sophia P ^a   Papaioannou, Sotiris K ^b  

^a ATHENS UNIVERSITY OF ECONOMICS AND BUSINESS   (Greece)

^b Centre for Planning and Economic Research KEPE   (Greece)

Author keywords

Growth; Industry effects; Information technology; Panel data

Indexed keywords

EMPIRICAL STUDIES; EU INDUSTRY; GROWTH; GROWTH CONTRIBUTION; GROWTH EFFECTS; INDUSTRY EFFECTS; INFORMATION AND COMMUNICATION TECHNOLOGIES; PANEL DATA;

ESTIMATION; INDUSTRY;

INFORMATION TECHNOLOGY;

COMPARATIVE STUDY; GROWTH RATE; INDUSTRIAL DEVELOPMENT; INFORMATION TECHNOLOGY; PANEL DATA; PRODUCTIVITY;

EUROPE; UNITED STATES;

EID: 79952041580     PISSN: 01676245     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.infoecopol.2010.03.004     Document Type: Article

References (56)

1. Aghion P., Howitt P. A model of growth through creative destruction. Econometrica 1992, 60:323-351.
2. Aghion P., Howitt P. Endogenous Growth Theory 1998, MIT Press, Cambridge, MA.
3. Antonelli C. The digital divide: understanding the economics of new information and communication technology in the global economy. Information Economics and Policy 2003, 15:173-199.
4. Arellano M., Bond S. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies 1991, 58:277-297.
5. Arellano M., Bover O. Another look at the instrumental variable estimation of error-components models. Journal of Econometrics 1995, 68:29-51.
6. Barro R., Sala-i-Martin X. Economic Growth 1995, McGraw-Hill.
7. Berndt E., Morrison C. High-tech capital formation and economic performance in US manufacturing industries: an exploratory analysis. Journal of Econometrics 1995, 65:9-43.
8. Black S., Lynch L. How to compete: the impact of workplace practices and information technology on productivity. The Review of Economics and Statistics 2001, 83:434-445.
9. Blomstrom, M., Lipsey, R., Zejan, M., 1992. What explains developing country growth? NBER Working Paper No. 4132.
10. Blundell R., Bond S. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 1998, 87:115-143.
11. Breitung J. The local power of some unit root tests for panel data. Nonstationary Panels, Panel Cointegration and Dynamic Panels 2000, vol. 15.. JAI Press, Amsterdam. B. Baltagi (Ed.).
12. Bresnahan T., Brynjolfsson E., Hitt L. Information technology, workplace organisation and the demand for skilled labor: firm-level evidence. Quarterly Journal of Economics 2002, 117:339-376.
13. Bresnahan T., Trajtenberg M. General purpose technologies. Engines of growth?. Journal of Econometrics 1995, 65:83-108.
14. Breusch T., Pagan A. A simple test for heteroscedasticity and random coefficient variation. Econometrica 1979, 47:1287-1294.
15. Colecchia A., Schreyer P. ICT investment and economic growth in the 1990s: is the United States a unique case? A comparative study of nine OECD countries. Review of Economic Dynamics 2002, 5:408-442.
16. Daveri F. The new economy in Europe 1992-2001. Oxford Review of Economic Policy 2002, 18:345-362.
17. David P. The dynamo and the computer: a historical perspective on the modern productivity paradox. American Economic Review 1990, 80:355-361.
18. Durlauf S., Johnson P., Temple J. Growth econometrics. Handbook of Economic Growth 2005, Elsevier. P. Aghion, S. Durlauf (Eds.).
19. EU KLEMS Database, 2007. http://www.euklems.net.
20. European Commission, 2007. The EU economy: 2007 Review. EU, Brussels.
21. Eurostat, 2008. Science and Technology Indicators. European Commission, Brussels.
22. Grossman G.M., Helpman E. Innovation and Growth in the Global Economy 1991, MIT Press, Cambridge, MA.
23. Gust C., Marquez J. International comparisons of productivity growth: the role of information technology and regulatory practices. Labour Economics 2004, 11:33-58.
24. Hadri K. Testing for stationarity in heterogeneous panel data. Econometric Journal 2000, 3:148-161.
25. Harris R. Communications costs and trade. Canadian Journal of Economics 1995, 28(s1):46-75.
26. Hausman J. Specification tests in econometrics. Econometrica 1978, 46:1251-1271.
27. Helpman E., Trajtenberg M. A time to sow and a time to reap: growth based on general purpose technologies. General Purpose Technologies and Economic Growth 1998, MIT Press, Cambridge, MA. E. Helpman (Ed.).
28. Howitt P. Measurement, obsolescence and general purpose technologies. General Purpose Technologies and Economic Growth 1998, MIT Press, Cambridge, MA. E. Helpman (Ed.).
29. Hurlin, C., 2007. What would Nelson and Plosser find had they used panel unit root tests? HAL Working Paper Series No. halshs-00156685_v1.
30. Hurlin, C., Mignon, V., 2007. Second generation panel unit root tests. HAL Working Paper Series No. halshs-00159842_v1.
31. Im K.S., Pesaran M.H., Shin Y. Testing for unit roots in heterogeneous panels. Journal of Econometrics 2003, 115:53-74.
32. Inklaar R., O' Mahony M., Timmer M. ICT and Europe's productivity performance: industry-level growth account comparisons with the United States. Review of Income and Wealth 2005, 51:505-536.
33. Jorgenson D., Ho M., Stiroh K. Lessons for Europe from the US growth resurgence. CESifo Economic Studies 2003, 49:27-47.
34. Jorgenson D., Stiroh K. Raising the speed limit: US economic growth in the information age. Brookings Papers on Economic Activity 2000, 2000:125-235.
35. Levin A., Lin C.F., Chu J. Unit root tests in panel data: asymptotic and finite sample properties. Journal of Econometrics 2002, 108:1-24.
36. Maddala G., Wu S. A comparative study of unit root tests and a new simple test. Oxford Bulletin of Economics and Statistics 1999, 61:631-652.
37. Nickell S., Nicolitsas D., Dryden N. What makes firms perform well?. European Economic Review 1997, 41:783-796.
38. OECD, 1999. OECD Employment Outlook. OECD, Paris.
39. OECD, 2003. Indicators of Product Market Regulation. OECD, Paris.
40. OECD, 2009. OECD STAN Database. OECD, Paris.
41. Oliner S., Sichel D. The resurgence of growth in the late 1990s: is information technology the story?. Journal of Economic Perspectives 2000, 14:3-22.
42. O'Mahony, M., Ark van, B., 2003a. EU Productivity and Competitiveness: an Industry Perspective: Can Europe Resume the Catching-up Process? European Commission, Brussels.
43. O'Mahony, M., Ark van, B., 2003b. ICT Investments and Growth Accounts for the European Union. Groningen Growth and Development Centre, Groningen.
44. O'Mahony M., Vecchi M. Quantifying the impact of ICT capital on output growth: a heterogeneous dynamic panel approach. Economica 2005, 72:615-633.
45. Pedroni P. Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and Statistics 1999, 61:653-670.
46. Pedroni P. Panel cointegration. Asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econometric Theory 2004, 20:597-625.
47. Pesaran, M.H., 2003. A Simple Panel Unit Root Test in the Presence of Cross Section Dependence. Cambridge Working Papers in Economics No. 346, Cambridge, UK.
48. Pesaran M.H., Shin Y., Smith R. Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association 1999, 94:621-634.
49. Pesaran M.H., Smith R. Estimating long run relationships from dynamic heterogeneous panels. Journal of Econometrics 1995, 68:79-113.
50. Roodman, D., 2006. How to do xtabond2: An Introduction to " Difference" and " System" GMM in Stata. Center for Global Development Working Paper No. 103, Washington.
51. Scarpetta, S., Hemmings P., Tressel, T., Woo, J., 2002. The Role of Policy and Institutions for Productivity and Firm Dynamics: Evidence From Micro and Industry Data. OECD Economics Department Working Paper No. 329, Paris.
52. Stiroh K. Information technology and the US productivity revival: what do the industry data say?. American Economic Review 2002, 92:1559-1576.
53. Van Ark B., Inklaar R., McGuckin R. Changing gear productivity, ICT and service industries: Europe and the United States. The Industrial Dynamics of the New Digital Economy 2003, Edward Elgar Publishing. J. Christensen, P. Maskell (Eds.).
54. Van Ark B., Inklaar R., McGuckin R. ICT and productivity in Europe and the United States: where do the differences come from?. CESifo Economic Studies 2003, 49:295-318.
55. Windmeijer F. A finite sample correction for the variance of linear efficient two-step GMM estimators. Journal of Econometrics 2005, 126:25-51.
56. Ziliak J.P. Efficient estimation with panel data when instruments are predetermined: an empirical comparison of moment condition estimators. Journal of Business and Economic Statistics 1997, 15:419-431.