Information technology's impacts on productivity and welfare: a review

Tisdell, Clem (2017) Information technology's impacts on productivity and welfare: a review. International Journal of Social Economics, 44 3: 400-413. doi:10.1108/IJSE-06-2015-0151


Author Tisdell, Clem
Title Information technology's impacts on productivity and welfare: a review
Journal name International Journal of Social Economics   Check publisher's open access policy
ISSN 0306-8293
1758-6712
Publication date 2017-03-01
Sub-type Article (original research)
DOI 10.1108/IJSE-06-2015-0151
Open Access Status Not yet assessed
Volume 44
Issue 3
Start page 400
End page 413
Total pages 14
Place of publication Bingley, United Kingdom
Publisher Emerald Publishing Limited
Collection year 2018
Language eng
Formatted abstract
Purpose - The purpose of this paper is to outline and examine existing economic findings about the effects of information and communication technology on economic productivity, welfare and social change.

Design/methodology/approach - Initially, existing findings about consequences of ICT for macro-level economic activity and productivity are outlined, and then this is correspondingly done for firms and for industries before a variety of welfare and social consequences of ICT are discussed. The industry-level discussion includes empirical data as well as analytical material.

Findings - Most studies indicate that ICT has significantly added to GDP and has been growth enhancing but these effects vary considerably between economies. The elasticity of aggregate production in relation to investment in ICT has risen with the passage of time. Reasons for this are suggested. The contribution of value added to the output of different industries varies substantially. At the micro-economic level, it is shown how ICT can increase technical and allocative efficiency, and how it can increase consumers' surplus and producers' surplus by lowering market transaction costs. Socioeconomic inequalities and concerns arising from the supply of e-commodities are discussed.

Originality/value - Provides a comprehensive but short overview of economic findings about the impact of ICT and brings attention to socioeconomic issues that have been overlooked or downplayed in that discussion. Includes new micro-economic analysis of the distributional impact of ICT and indicates areas requiring social policy intervention.
Keyword ICT and economic welfare
ICT and social change
Information technology and productivity
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: HERDC Pre-Audit
School of Economics Publications
 
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