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ICT Capital Formation, Unemployment, and the Solow Paradox

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  • Emmanuel Apergis
  • Nicholas Apergis
  • James W. Saunoris

Abstract

This study explores the impact of ICT on unemployment and labour productivity. Using a time-varying modelling approach, quarterly US data from 1972 to 2020 estimate the relationships between unemployment and ICT capital investments. The results highlight that ICT capital investments reduce unemployment and increase labour productivity, showing no evidence supporting the Solow Paradox. The mechanisms behind the relationship between ICT and enhanced labour productivity are identified by Data Envelopment Analysis (DEA) and include improved access to information and an improvement in the labour structure.

Suggested Citation

  • Emmanuel Apergis & Nicholas Apergis & James W. Saunoris, 2023. "ICT Capital Formation, Unemployment, and the Solow Paradox," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 30(1), pages 79-105, January.
    • Handle: RePEc:taf:ijecbs:v:30:y:2023:i:1:p:79-105
    DOI: 10.1080/13571516.2022.2154490
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