| Abstract: |
This paper studies the contribution of Information and Communication
Technologies (ICT) on economic growth and labor productivity across the three
leading economies in the world: Japan, Germany and the US. We use a dynamic
general equilibrium growth model with investment-specific technological change
to quantify the contribution to productivity growth in the three countries
from different technological progress. We find that contribution to
productivity growth due to ICT capital assets is about 0.40 percentage points
for Japan and Germany, whereas it is about 0.65 percentage points in the case
of the US. Neutral technological change is the main source of productivity
growth in Japan and Germany. For the US, the main source of productivity
growth derives from investment-specific technological change, mainly
associated to ICT. |