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Telecommunications Policy
ISSN : 0308-5961
년11회

Does ICT investment widen the growth gap?

2010-02-18

Hwan-Joo | Hanyang University
Young Soo | Korea Aerospace University
Jeong Hun | Korea University

Vol.33 No.8 , pp.422 ~ 431

초록

This paper builds a model of cumulative growth to examine the dynamic interdependent relationship between Information and Communication Technology (ICT) investment and economic growth for a sample of 29 countries in the 1990s. We confirm the following facts: First, there is a positive correlation between ICT investment and economic growth. Second, non-ICT investment has as much influence on the growth gap as ICT investment. Third, those countries with a solid economic infrastructure and open trade regime experience more active ICT investments. Fourth, those countries with a comparatively lower productivity level can reduce the gap using knowledge spillovers from more advanced countries. Fifth, reinforcement of patent rights has a positive influence on economic growth by stimulating the accumulation of ICT capital. Finally, ICT investment does not have a strong interdependent relationship with economic growth, while non-ICT investment has a cumulative causal relationship with economic growth and plays a key role in the process of widening the growth gap.

참고문헌

  • J. Bessen (2004) , Holdup and licensing of cumulative innovations with private information , Economics Letters , VOL.82 , pp.321 ~ 326
  • G.M. Grossman (1991) , Innovation and growth in the global economy : MIT Press
  • K.E. Maskus (2000) , Intellectual property rights in the global economy : Institute for International Economics