Productivity growth and the role of ICT in the United Kingdom: an industry view, 1970-2000

Oulton, Nicholas and Srinivasan, Sylaja (2005) Productivity growth and the role of ICT in the United Kingdom: an industry view, 1970-2000. CEPDP (681). London School of Economics and Political Science. Centre for Economic Performance, London, UK. ISBN 0753018640

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Abstract

We use a new industry-level dataset to quantify the role of ICT in explaining productivity growth in the UK, 1970-2000. The dataset is for 34 industries covering the whole economy (31 in the market sector). Using growth accounting, we find that ICT capital played an increasingly important, and in the 1990s the dominant, role in accounting for labour productivity growth in the market sector. Econometric evidence also supports an important role for ICT. We also find econometric evidence that a boom in complementary investment in the 1990s could have led to a decline in the conventional measure of TFP growth.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://cep.lse.ac.uk
Additional Information:	© 2005 the authors
Divisions:	Centre for Economic Performance
Subjects:	T Technology > T Technology (General) H Social Sciences > HD Industries. Land use. Labor
JEL classification:	O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O47 - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output (Income) Convergence D - Microeconomics > D2 - Production and Organizations > D24 - Production; Cost; Capital and Total Factor Productivity; Capacity O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O52 - Europe
Date Deposited:	24 Jul 2008 09:23
Last Modified:	15 Sep 2023 23:00
URI:	http://eprints.lse.ac.uk/id/eprint/19901

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