چکیده:
In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. However, empirical studies on this issue have produced mixed results, regarding to different research methodology and geographical configuration of the study. The aim of this research is to empirically study the external effects of ICT on economic growth by the endogenous production growth model, using panel data collected from newly industrialized countries (NICs) in the world namely Mexico, Brazil, China, India, South Korea, Malaysia, Singapore, Philippines, Thailand and Turkey over the period of 1990-2008. This paper indicates a considerable lags between the time of investing in these technologies and the time at which the externalities arise. The focus is on the possible network effects and spillovers emerging as externalities from investments in ICT. This study also shows that productivity obtained from ICT is larger than one would expect from a standard neoclassical growth accounting approach.
خلاصه ماشینی:
"The aim of this research is to empirically study the external effects of ICT on economic growth by the endogenous production growth model, using panel data collected from newly industrialized countries (NICs) in the world namely Mexico, Brazil, China, India, South Korea, Malaysia, Singapore, Philippines, Thailand and Turkey over the period of 1990-2008.
3-4- The Estimation Method The following represents the panel data estimation equation used in this paper: (9) Where is gross domestic product per capita in constant 2000 prices in US dollar in country i at year t, and is a vector of the explanatory variables (ICT capital, total capital stock, labour, trade openness and foreign direct investment) for country i = 1, 2…, m and at time t= 1, 2, …,T, Φ a scalar vector of parameters of β1.
We can find the parameters by making use of the Arellano-Bond (1991) Generalized Method of Moments (GMM) estimator to evaluate the joint effects of ICT investments and other explanatory variables that are used in the economic growth model of NICs while controlling for the potential bias due to the endogenously of some of the regressors.
5- Conclusions and Implications This paper concentrated on exploring the supply side of ICT in the NICs. The results of the growth model estimations with ICT as an explanatory variable using Panel Data method in the period of 1990-2008 show that ICT has a significant effect on the economic growth of these countries."