engleski

Technological Innovation, Productivity and Growth

Innovations have long been recognized as one of the key elements of economic progress, though some say that its direct relation to the concept of economic growth remains rather controversial. Productivity growth is the key economic indicator of innovation, non-the-less. Growth theory assumes that changes in real output are result of technological shocks within the economy. By focusing on computer and information techonology, using ARIMA models and Beveridge-Nelson univariate decomposition this paper estimates the impact of technological shocks on GDP, GDP per capita and labour productivity (long-term) growth of few most developed countries.

computer and information technology; productivity and growth; ARIMA models; Beveridge-Nelson decomposition; developed countries

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