The productivity paradox and the new economy: The Spanish case
2007; Elsevier BV; Volume: 30; Issue: 4 Linguagem: Inglês
10.1016/j.jmacro.2007.10.007
ISSN1873-152X
AutoresDiego Martínez, Jesús Rodríguez‐López, José L. Torres,
Tópico(s)Regional Economics and Spatial Analysis
ResumoThis paper studies the impact of the information and communication technologies (ICT) on economic growth in Spain using a dynamic general equilibrium approach. Contrary to previous works, we use a production function with six different capital inputs, three of them corresponding to ICT assets. Calibration of the model suggests that the contribution of ICT to Spanish productivity growth is very relevant, whereas the contribution of non-ICT capital has been even negative. Additionally, over the sample period 1995–2002, we find a negative TFP growth and productivity growth. These results together aim at the hypothesis that the Spanish economy could be placed within the productivity paradox.
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