Mas, Matilde and Quesada, Javier (2006): The Role of ICT on the Spanish Productivity Slowdown. Published in: Fundación BBVA - Documentos de Trabajo No. 13 (2006)
Download (117kB) | Preview
The paper presents a quantification of Spanish productivity performance over the last two decades –with a special mention to the role played by Information and Communication Technologies (ICT). It makes use of the capital service data -recently released by the BBVA Foundation- exploiting its sectoral break down. It concentrates in twenty six industries belonging to the business (non-primary) sectors of the economy. These industries are further grouped in two clusters according to their intensity in the use of ICT capital. Our results show that the ICT cluster as a whole has presented the most dynamic behaviour. However, some important differences can be detected, both among the industries included in the cluster and also over the period under consideration. A growth accounting exercise allows us to conclude that the Spanish economy shows notable inefficiencies, as identified by negative Total Factor Productivity (TFP) contributions to productivity growth during the period 1985-2004. However, the ICT intensive cluster has reversed its behaviour since 2000, driving a modest resurgence of labour productivity in Spain over the 2000-2004 period.
|Item Type:||MPRA Paper|
|Original Title:||The Role of ICT on the Spanish Productivity Slowdown|
|Keywords:||Growth Accounting, Productivity, Information and Communication Technologies|
|Subjects:||O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O47 - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O52 - Europe
|Depositing User:||Matilde Mas|
|Date Deposited:||22. Jun 2009 00:56|
|Last Modified:||13. Feb 2013 15:54|
BAILEY, M.N. (2003): “The Sources of Economic Growth in OECD Countries: A Review Article”, International Productivity Monitor, 7, Fall 2003.
BAILEY, M.N. and R.J. GORDON (1988): “The Productivity Slowdown, Measurement Issues and the Explosion of Computer Power”, Brookings Papers on Economic Activity, vol. 19 (2): 347-420.
BARTELSMAN, E.J., CABALLERO, R.J. and R.K. LYONS (1994): “Costumer –and supplier- driven externalities”, American Economic Review, 84 (4) September, 1075-1084.
BRESNAHAN, T.F. (1986): “Measuring the spillovers from technical advance: mainframe computers in financial services”, American Economic Review, 76 (4), September, 741-755.
COLECCHIA, A. and P. SCHREYER (2001): “ICT Investment and Economic Growth in the 1990’s: is the United States a Unique Case? A Comparative Study of nine OECD Countries”, Review of Economic Dynamics, April, 5(2): 408-42.
GORDON, R.J. (1999): “Has the ‘New Economy’ rendered the productivity slowdown obsolete?”, Mimeo, North-western University, June.
JORGENSON, D.W. and K. STIROH (2000): “Raising the Speed Limit: US Economic Growth in the Information Age”, Brookings Papers on Economic Activity, (1): 125-211.
MAS, M., PÉREZ, F. and E. URIEL (dirs.) (2005): El stock y los servicios del capital en España (1964-2002). Nueva metodología. Bilbao: Fundación BBVA.
MAS, M. and J. QUESADA (2005): Las nuevas tecnologías y el crecimiento económico en España, Bilbao: Fundación BBVA.
OLINER S.D. and D.E. SICHEL (2000): “The Resurgence of Growth in the Late 1990’s: Is Information Technology the Story?”, Journal of Economic Perspectives, 14, Fall, 3-22.
O’MAHONY, M. and B. VAN ARK (eds.) (2003): EU productivity and competitiveness: an industry perspective, European Commission.
PILAT, D. (2003): “ICT and Economic Growth – Evidence from OECD Countries, Industries and Firms”, DSTI, ICCP (2003) 2, Paris: OECD.
SCHREYER, P. (2004): “Measuring multi-factor productivity when rates of return are exogenous”, paper presented at SSHRC International Conference on Index Number theory and the measurement of prices and productivity, Vancouver, June 30 – July 3.
STIROH, K. (2002): “Information Technology and U.S. Productivity Revival: What Do the Industry Data Say?”, American Economic Review, 92 (5), December, 1559-1576.
TIMMER, M. and B. VAN ARK (2005): “Does information and communication technology drive EU-US productivity growth differentials?”, Oxford Economic Papers, Vol. 57, nº 4, October, 693-716.
VAN ARK, B. and M. TIMMER (2004): “Computers and the Big Divide: Productivity Growth in the European Union and the United States” in M. Mas and P. Schreyer (eds): Growth, Capital Stock and New Technologies, Bilbao: Fundación BBVA, forthcoming.