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THE EFFECT OF INFORMATION TECHNOLOGY AND HUMAN CAPITAL ON ECONOMIC GROWTH

Published online by Cambridge University Press:  13 July 2010

Elena Ketteni ,
Theofanis Mamuneas  and
Thanasis Stengos
Elena Ketteni
Affiliation:
University of Cyprus and Frederick University
Theofanis Mamuneas
Affiliation:
University of Cyprus
Thanasis Stengos*
Affiliation:
University of Guelph
*
Address correspondence to: Thanasis Stengos, Department of Economics, University of Guelph, Guelph, Ontario N1G 2W1, Canada; e-mail: [email protected].
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Abstract

In this paper we compare the impact of hardware, software, and communication equipment, widely referred to as information and communication technologies (ICT), on economic growth among the advanced industrialized countries. We use nonparametric techniques that allow us to estimate the output elasticities of ICT and human capital directly for each country and time period in our sample. Our results indicate that countries with high levels of ICT capital have high output elasticities of human capital. In addition, countries with high levels of human capital have high output elasticities of ICT, a result suggesting complementarity between the two.

Keywords

Information and Communication TechnologiesProductivityHuman CapitalSemiparametric Smooth Coefficient Model
Type
Articles
Information
Macroeconomic Dynamics , Volume 15 , Issue 5 , November 2011 , pp. 595 - 615
Copyright
Copyright © Cambridge University Press 2010

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