earticle

영어

Information and communication technology (ICT) has been recognized as one of the alternative source of productivity growth and, in turn, economic growth. However, there has not been much literature reporting that the benefit of ICT has materialized in countries other than United States. Since the Korean economy has allocated a large amount of resource to develop ICT capacity after the mid 1990s, it is time to investigate whether the invested resource has done something to boost the productivity. This study performs various regressions to analyze the relationship between ICT and productivity at the sectoral level. The basic methodology relies upon the framework developed by Griliches in the field of R&D. The study also examine the causality among ICT, R&D and industrial productivity based on the time-series analysis. The empirical results show that the ICT has not provided much positive effect in productivity improvement so far, and more attention should be paid to the efficient utilization of invested capital.