IDEAS home Printed from https://ideas.repec.org/a/eee/teinso/v63y2020ics0160791x20304188.html
   My bibliography  Save this article

Impact of ICT development on economic growth. A study of OECD European union countries

Author

Listed:
  • Fernández-Portillo, Antonio
  • Almodóvar-González, Manuel
  • Hernández-Mogollón, Ricardo

Abstract

Most of the scientific literature recognizes a positive impact of Information and Communication Technologies (ICT) on economic growth. In contrast, different investigations suggest that this impact is limited or even null, that is, there are mixed results.

Suggested Citation

  • Fernández-Portillo, Antonio & Almodóvar-González, Manuel & Hernández-Mogollón, Ricardo, 2020. "Impact of ICT development on economic growth. A study of OECD European union countries," Technology in Society, Elsevier, vol. 63(C).
    • Handle: RePEc:eee:teinso:v:63:y:2020:i:c:s0160791x20304188
    DOI: 10.1016/j.techsoc.2020.101420
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0160791X20304188
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techsoc.2020.101420?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Robin Mansell, 2014. "Power And Interests In Information And Communication And Development: Exogenous And Endogenous Discourses In Contention," Journal of International Development, John Wiley & Sons, Ltd., vol. 26(1), pages 109-127, January.
    3. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
    4. Edquist, Harald & Goodridge, Peter & Haskel, Jonathan & Li, Xuan & Lindquist, Edward, 2018. "How important are mobile broadband networks for the global economic development?," Information Economics and Policy, Elsevier, vol. 45(C), pages 16-29.
    5. Shqipe Gërguri-Rashiti & Veland Ramadani & Hyrije Abazi-Alili & Léo-Paul Dana & Vanessa Ratten, 2017. "ICT, Innovation and Firm Performance: The Transition Economies Context," Post-Print hal-02008550, HAL.
    6. Vu, Khuong M., 2011. "ICT as a source of economic growth in the information age: Empirical evidence from the 1996-2005 period," Telecommunications Policy, Elsevier, vol. 35(4), pages 357-372, May.
    7. Pradhan, Rudra P. & Arvin, Mak B. & Bahmani, Sahar & Bennett, Sara E., 2017. "The innovation- growth link in OECD countries: Could other macroeconomic variables matter?," Technology in Society, Elsevier, vol. 51(C), pages 113-123.
    8. Haller, Stefanie A. & Lyons, Seán, 2015. "Broadband adoption and firm productivity: Evidence from Irish manufacturing firms," Telecommunications Policy, Elsevier, vol. 39(1), pages 1-13.
    9. Kumar, Ronald Ravinesh & Stauvermann, Peter Josef & Samitas, Aristeidis, 2016. "The effects of ICT⁎ on output per worker: A study of the Chinese economy," Telecommunications Policy, Elsevier, vol. 40(2), pages 102-115.
    10. Bertschek, Irene & Cerquera, Daniel & Klein, Gordon J., 2011. "More bits - more bucks? Measuring the impact of broadband internet on firm performance," ZEW Discussion Papers 11-032, ZEW - Leibniz Centre for European Economic Research.
    11. Aleksandra Skorupinska & Joan Torrent-Sellens, 2017. "ICT, Innovation and Productivity: Evidence Based on Eastern European Manufacturing Companies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(2), pages 768-788, June.
    12. Daron Acemoglu & David Autor & David Dorn & Gordon H. Hanson & Brendan Price, 2014. "Return of the Solow Paradox? IT, Productivity, and Employment in US Manufacturing," American Economic Review, American Economic Association, vol. 104(5), pages 394-399, May.
    13. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    14. Lucas, Robert E, Jr, 1993. "Making a Miracle," Econometrica, Econometric Society, vol. 61(2), pages 251-272, March.
    15. Rudra P. Pradhan & Mak B. Arvin & Mahendhiran Nair & Sara E. Bennett & John H. Hall, 2019. "The information revolution, innovation diffusion and economic growth: an examination of causal links in European countries," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(3), pages 1529-1563, May.
    16. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    17. Pradhan, Rudra P. & Arvin, Mak B. & Nair, Mahendhiran & Bennett, Sara E. & Bahmani, Sahar, 2019. "Short-term and long-term dynamics of venture capital and economic growth in a digital economy: A study of European countries," Technology in Society, Elsevier, vol. 57(C), pages 125-134.
    18. Nair, Mahendhiran & Pradhan, Rudra P. & Arvin, Mak B., 2020. "Endogenous dynamics between R&D, ICT and economic growth: Empirical evidence from the OECD countries," Technology in Society, Elsevier, vol. 62(C).
    19. Pradhan, Rudra P. & Arvin, Mak B. & Norman, Neville R., 2015. "The dynamics of information and communications technologies infrastructure, economic growth, and financial development: Evidence from Asian countries," Technology in Society, Elsevier, vol. 42(C), pages 135-149.
    20. Warr, Benjamin & Ayres, Robert U., 2012. "Useful work and information as drivers of economic growth," Ecological Economics, Elsevier, vol. 73(C), pages 93-102.
    21. Venturini, Francesco, 2015. "The modern drivers of productivity," Research Policy, Elsevier, vol. 44(2), pages 357-369.
    22. Mattalia, Claudio, 2013. "Embodied technological change and technological revolution: Which sectors matter?," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 249-264.
    23. Jorgenson, Dale W. & Vu, Khuong M., 2016. "The ICT revolution, world economic growth, and policy issues," Telecommunications Policy, Elsevier, vol. 40(5), pages 383-397.
    24. Robin Mansell, 2014. "Power and interests in information and communication technologies and development: exogenous and endogenous discourses in contention," LSE Research Online Documents on Economics 32152, London School of Economics and Political Science, LSE Library.
    25. Vu, Khuong & Hanafizadeh, Payam & Bohlin, Erik, 2020. "ICT as a driver of economic growth: A survey of the literature and directions for future research," Telecommunications Policy, Elsevier, vol. 44(2).
    26. Walter Mayer & Gary Madden & Chen Wu, 2020. "Broadband and economic growth: a reassessment," Information Technology for Development, Taylor & Francis Journals, vol. 26(1), pages 128-145, January.
    27. Albiman, Masoud Mohammed & Sulong, Zunaidah, 2017. "The linear and non-linear impacts of ICT on economic growth, of disaggregate income groups within SSA region," Telecommunications Policy, Elsevier, vol. 41(7), pages 555-572.
    28. Maurseth, Per Botolf, 2018. "The effect of the Internet on economic growth: Counter-evidence from cross-country panel data," Economics Letters, Elsevier, vol. 172(C), pages 74-77.
    29. Raéf Bahrini & Alaa A. Qaffas, 2019. "Impact of Information and Communication Technology on Economic Growth: Evidence from Developing Countries," Economies, MDPI, vol. 7(1), pages 1-13, March.
    30. Sunday Chinedu Eze & Vera Chinwendu Chinedu-Eze & Adenike Oluyemi Bello, 2018. "Actors and emerging information, communications and technology (EICT) adoption: A study of UK small and medium services enterprises’," Cogent Business & Management, Taylor & Francis Journals, vol. 5(1), pages 1480188-148, January.
    31. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Merva, Mary & Costagli, Simona, 2024. "Measuring information as an expanding resource: Information production and its TFP-information absorption ecosystem “multiplier”," Telecommunications Policy, Elsevier, vol. 48(7).
    2. Pavel Zdražil & Ivana Kraftová, 2022. "The Determinants of Competitive Advantage for Europe’s Regions: Digital Economy at the Start of the Fourth Industrial Revolution," Journal of Economics / Ekonomicky casopis, Institute of Economic Research, Slovak Academy of Sciences, vol. 70(5), pages 450-471, May.
    3. Mounir Dahmani & Mohamed Mabrouki & Adel Ben Youssef, 2022. "ICT, trade openness and economic growth in Tunisia: what is going wrong?," Economic Change and Restructuring, Springer, vol. 55(4), pages 2317-2336, November.
    4. Du, Yanan & Zhou, Jianping & Bai, Jiancheng & Cao, Yujia, 2023. "Breaking the resource curse: The perspective of improving carbon emission efficiency based on digital infrastructure construction," Resources Policy, Elsevier, vol. 85(PB).
    5. Kiril Anguelov & Miglena Angelova, 2021. "Home office effects on the motivation of ICT companies' employees," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 10-28, June.
    6. Mounir Dahmani & Mohamed Mabrouki & Adel Ben Youssef, 2021. "The ICT, Financial Development, Energy Consumption and Economic Growth Nexus in MENA Countries: Panel CS-ARDL Evidence," GREDEG Working Papers 2021-46, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    7. Md. Saiful Islam & Anis ur Rehman & Imran Khan & Ibrahim Abdelrasuol, 2024. "ICT and Economic Growth Nexus in Saudi Arabia, Controlling Human Capital in the COVID-19 Era: A NARDL Exercise," SAGE Open, , vol. 14(2), pages 21582440241, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Antonio Fernández-Portillo & Manuel Almodóvar-González & José Luís Coca-Pérez & Héctor Valentín Jiménez-Naranjo, 2019. "Is Sustainable Economic Development Possible Thanks to the Deployment of ICT?," Sustainability, MDPI, vol. 11(22), pages 1-15, November.
    2. Santos-Arteaga, Francisco J. & Di Caprio, Debora & Tavana, Madjid, 2023. "A combinatorial data envelopment analysis with uncertain interval data with application to ICT evaluation," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    3. Charles Shaaba Saba & Nicholas Ngepah & Nicholas M. Odhiambo, 2024. "Information and Communication Technology (ICT), Growth and Development in Developing Regions: Evidence from a Comparative Analysis and a New Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 14700-14748, September.
    4. Odhiambo, Nicholas M., 2022. "Information technology, income inequality and economic growth in sub-Saharan African countries," Telecommunications Policy, Elsevier, vol. 46(6).
    5. Song, Xianyun & Hou, Wenwen, 2024. "Mineral resources and growth nexus in ASEAN countries: What role do trade diversification, ICT, and financial inclusion play in the resource curse spectrum?," Resources Policy, Elsevier, vol. 91(C).
    6. Durlauf, Steven N. & Quah, Danny T., 1999. "The new empirics of economic growth," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 4, pages 235-308, Elsevier.
    7. Nguyen, Canh Phuc & Doytch, Nadia, 2022. "The impact of ICT patents on economic growth: An international evidence," Telecommunications Policy, Elsevier, vol. 46(5).
    8. Koopman, Eline & Wacker, Konstantin M., 2023. "Drivers of growth accelerations: What role for capital accumulation?," World Development, Elsevier, vol. 169(C).
    9. Mounir Dahmani & Mohamed Mabrouki & Adel Ben Youssef, 2022. "ICT, trade openness and economic growth in Tunisia: what is going wrong?," Economic Change and Restructuring, Springer, vol. 55(4), pages 2317-2336, November.
    10. Mounir Dahmani & Mohamed Mabrouki & Adel Ben Youssef, 2021. "The ICT, Financial Development, Energy Consumption and Economic Growth Nexus in MENA Countries: Panel CS-ARDL Evidence," GREDEG Working Papers 2021-46, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    11. Charles Shaaba Saba & Nicholas Ngepah, 2022. "Nexus between telecommunication infrastructures, defence and economic growth: a global evidence," Netnomics, Springer, vol. 22(2), pages 139-177, October.
    12. Taiwo Akinlo & James Temitope Dada, 2022. "Information technology, real sector and economic growth in sub-Saharan Africa: a cross-sectional dependence approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(6), pages 4241-4267, December.
    13. Smedoiu Popoviciu Alexandra & Horobet Alexandra & Belascu Lucian, 2021. "Taxing the digital economy – rethinking Romania’s prospects," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 15(1), pages 338-351, December.
    14. Awad, Atif & Albaity, Mohamed, 2022. "ICT and economic growth in Sub-Saharan Africa: Transmission channels and effects," Telecommunications Policy, Elsevier, vol. 46(8).
    15. Odhiambo, Nicholas M., 2022. "Information technology, income inequality and economic growth in sub-Saharan African countries," Telecommunications Policy, Elsevier, vol. 46(6).
    16. Tranos, Emmanouil & Kitsos, Tasos & Wolf, Levi John, 2024. "Fast and furious: the productivity effects of the geography of experienced internet speeds," OSF Preprints va375, Center for Open Science.
    17. Appiah-Otoo, Isaac & Song, Na, 2021. "The impact of ICT on economic growth-Comparing rich and poor countries," Telecommunications Policy, Elsevier, vol. 45(2).
    18. Ekundayo Peter Mesagan & Xuan Vinh Vo & Precious Muhammed Emmanuel, 2023. "The technological role in the growth-enhancing financial development: evidence from African nations," Economic Change and Restructuring, Springer, vol. 56(1), pages 657-680, February.
    19. Schreiner, Lena & Madlener, Reinhard, 2022. "Investing in power grid infrastructure as a flexibility option: A DSGE assessment for Germany," Energy Economics, Elsevier, vol. 107(C).
    20. Matthias Firgo & Peter Mayerhofer, 2015. "Wissens-Spillovers und regionale Entwicklung - welche strukturpolitische Ausrichtung optimiert des Wachstum?," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 144, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:teinso:v:63:y:2020:i:c:s0160791x20304188. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/technology-in-society .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.