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on Information and Communication Technologies |
| By: | Fabio Bacchini (ISTAT); Maria Elena Bontempi (Alma Mater Studiorum - Università di Bologna); Roberto Golinelli (Alma Mater Studiorum - Università di Bologna); Cecilia Jona-Lasinio (ISTAT) |
| Abstract: | In this paper, we model business investment distinguishing between ICT (communication equipment, hardware and software) and Non-ICT (machinery and equipment, and non-residential buildings) components and taking into account asset specific characteristics potentially affecting the reactivity of capital accumulation over the business cycle. Business investment and ICT and Non-ICT assets are estimated within a VECM model to test, in a unique framework, the assumptions of the flexible accelerator model (Clark, 1944, and Koyck, 1954) and of the neoclassical model of Hall and Jorgenson (1967), as well as how financial constraints and uncertainty influence investment behaviour (Hall and Lerner, 2010, and Bloom, 2007). Our findings suggest that the long-run relationship with standard macro determinants (output and user cost) is verified for aggregate business capital stock as well as for individual Non-ICT assets but not for ICT. In the short run, liquidity is a key determinant of investment behaviour independently of the asset type. In the long-run, uncertainty significantly affects ICT. Finally, the results of the counterfactual exercises over the latest Italian recession support the idea that ICT is a key policy variable to foster the economic recovery. |
| Keywords: | Evaluation of Macro models, ICT Investments, Uncertainty, Liquidity constraints |
| JEL: | C52 C53 E22 E50 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:lui:lleewp:14113&r=ict |
| By: | Paunov C.; Rollo V. (UNU-MERIT) |
| Abstract: | Based on 50,013 firm observations covering 117 developing and emerging countries, this paper shows knowledge spillover effects from industries use of the internet boosted the average firms productivity and innovation performance. We document that industries digitization had heterogeneous impacts results from quantile regressions indicate that the most productive firms benefited much more than others. Wider Internet adoption rates were also of larger benefit to single-plant establishments, non-exporters and firms in remote locations, particularly to the most productive among these firms. Overall, we document that the internet can play an important role to support inclusive innovation, conditional on firms absorptive capacities. |
| Keywords: | Firm Behavior: Empirical Analysis; Microeconomic Analyses of Economic Development; Industrialization; Manufacturing and Service Industries; Choice of Technology; Technological Change: Choices and Consequences; Diffusion Processes; |
| JEL: | O33 O14 O12 D22 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2014084&r=ict |
| By: | Olessia Y. Koltsova (National Research University Higher School of Economics); Sergei N. Koltcov (National Research University Higher School of Economics) |
| Abstract: | Following the discussion on the role of Internet in the formation of ties across space, this paper seeks to supplement recent findings on location-dependent preferential attachment online. For this purpose, instead of looking at egonetworks, we look at networks of online communities specifically aimed at development of location-independent ties. The paper focuses on professional communities of software developers. The data are obtained automatically from the VKontakte social networking site. Evidence suggests that membership, friendship, commenting and liking ties are overwhelmingly cross-city |
| Keywords: | Internet, SNS, professional communities, cross-distance ties, networks, SNA |
| JEL: | Z19 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:57/soc/2014&r=ict |
| By: | Massimiliano Iommi (ISTAT) |
| Abstract: | This paper provides a growth accounting analysis of the sources of labor productivity growth in the business sector of 13 EU Member States and the US in the years 1995-2009. The aim of the analysis is to provide new evidence on the role of intangible and ICT capital as drivers of economic growth. We adopt the approach first proposed by Corrado, Hulten and Sichel and we extend the standard growth accounting model treating a broad range of firm expenditures for intangibles as investments that create future value. Our main results are the following: Capitalizing intangibles increases labor productivity growth in the period 1995-2009 with respect to labor productivity growth estimated from current national accounts data; Capital deepening was the dominant source of growth in 11 out of the 14 countries included in the analysis and in the other three its contribution was very close to the contribution of multi factor productivity growth; The contribution of ICT capital and Intangible non-ICT capital to labor productivity growth was quite high in all countries that performed relatively well in terms of labor productivity growth; When focusing on the US and the EU15 countries, there is a positive relationship between the growth of ICT and Intangible non-ICT capital deepening and the growth of multifactor productivity. |
| Keywords: | Productivity growth, Intangibles, ICT |
| JEL: | O47 E22 E01 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:lui:lleewp:14111&r=ict |