全球智库信息集成服务系统(G2TT): DP13910 Productivity, Network Effects and Telecommunications Capital: Evidence from the US and Europe

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP13910
	DP13910 Productivity, Network Effects and Telecommunications Capital: Evidence from the US and Europe
	Jonathan Haskel; Harald Edquist; Peter Goodridge
发表日期	2019-08-06
出版年	2019
语种	英语
摘要	Did the huge investment in telecommunications networks in the 1990s affect subsequent total factor productivity? Using data from 13 European countries and the US, 1995-2013, we document the substan- tial growth and then slowdown in “telecommunications” capital and ask if this is related to the growth and slowdown in TFP. We explore this by disaggregating ICT equipment investment into “IT” and “CT” equipment investment. We test for distinct effects from each using a simple framework where CT cap- ital has network externalities and so potentially impacts TFP, with the marginal impact of CT capital growth being higher in countries spending more on renting CT capital. We find: a) evidence of a robust correlation between (lagged) growth in (rental share-weighted) CT capital services and TFP growth; b) the estimated externality from CT capital potentially explains around 30-40% of TFP growth in North European countries, 60% in Scandinavia and around 90% in the US; c) CT capital has a social return around five times its private return; and d) a slowdown in the accumulation of CT capital accounts for just over half of the post-2003 TFP slowdown in the US but only one-tenth of the TFP slowdown in the EU
主题	Industrial Organization
URL	https://cepr.org/publications/dp13910
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/542791
推荐引用方式 GB/T 7714	Jonathan Haskel,Harald Edquist,Peter Goodridge. DP13910 Productivity, Network Effects and Telecommunications Capital: Evidence from the US and Europe. 2019.