@article{ART002478252},
author={Yie Myung-Soo and Nam, Soo Joong},
title={The Impact of ICT Sector on Economic Output and Growth},
journal={Informatization Policy},
issn={1598-3498},
year={2019},
volume={26},
number={2},
pages={24-45},
doi={10.22693/NIAIP.2019.26.2.024}
TY - JOUR
AU - Yie Myung-Soo
AU - Nam, Soo Joong
TI - The Impact of ICT Sector on Economic Output and Growth
JO - Informatization Policy
PY - 2019
VL - 26
IS - 2
PB - NIA
SP - 24
EP - 45
SN - 1598-3498
AB - This paper analyzes the size of direct and indirect impact of the information and communication technology(ICT) producing sector to the Korean economic growth We first divide the entire economy into the ICT producing sector and the ICT using sector, and estimate the contributions to the economic growth by each sector. We also try to answer the question on what the possible causes of the ICT producing sector's contribution are to growth. In oder to find the answer, we focus on the change in the relative prices of ICT products produced in the ICT producing sector and examine the long-term relations among the relative prices of ICT products, the ratio of ICT products used in the ICT using sector as an intermediate input, and the output of the entire economy. We find that the overall economic growth has been weakened but the ICT sector's contribution to the growth has increased. Specifically, the indirect contribution of the ICT producing sector, through the ICT using sector, to economic growth was greater than the direct contribution of the ICT producing sector itself. We also find a stable, long-term negative relation between the relative prices of ICT products produced in the ICT producing sector and the ratio of ICT products as an intermediate input in the ICT using sector. In addition, the decrease in the relative prices of ICT products produced in the ICT producing sector increases the use of ICT products in the ICT using sector and the output of the entire economy. These findings can be interpreted that the price decrease in the ICT products improves the production efficiency in other sectors and helps directly and indirectly, accelerating growth of the entire economy.
KW - information and communication technology;economic growth;contribution to growth;ICT producing sector;ICT using sector
DO - 10.22693/NIAIP.2019.26.2.024
ER -
Yie Myung-Soo and Nam, Soo Joong. (2019). The Impact of ICT Sector on Economic Output and Growth. Informatization Policy, 26(2), 24-45.
Yie Myung-Soo and Nam, Soo Joong. 2019, "The Impact of ICT Sector on Economic Output and Growth", Informatization Policy, vol.26, no.2 pp.24-45. Available from: doi:10.22693/NIAIP.2019.26.2.024
Yie Myung-Soo, Nam, Soo Joong "The Impact of ICT Sector on Economic Output and Growth" Informatization Policy 26.2 pp.24-45 (2019) : 24.
Yie Myung-Soo, Nam, Soo Joong. The Impact of ICT Sector on Economic Output and Growth. 2019; 26(2), 24-45. Available from: doi:10.22693/NIAIP.2019.26.2.024
Yie Myung-Soo and Nam, Soo Joong. "The Impact of ICT Sector on Economic Output and Growth" Informatization Policy 26, no.2 (2019) : 24-45.doi: 10.22693/NIAIP.2019.26.2.024
Yie Myung-Soo; Nam, Soo Joong. The Impact of ICT Sector on Economic Output and Growth. Informatization Policy, 26(2), 24-45. doi: 10.22693/NIAIP.2019.26.2.024
Yie Myung-Soo; Nam, Soo Joong. The Impact of ICT Sector on Economic Output and Growth. Informatization Policy. 2019; 26(2) 24-45. doi: 10.22693/NIAIP.2019.26.2.024
Yie Myung-Soo, Nam, Soo Joong. The Impact of ICT Sector on Economic Output and Growth. 2019; 26(2), 24-45. Available from: doi:10.22693/NIAIP.2019.26.2.024
Yie Myung-Soo and Nam, Soo Joong. "The Impact of ICT Sector on Economic Output and Growth" Informatization Policy 26, no.2 (2019) : 24-45.doi: 10.22693/NIAIP.2019.26.2.024
