Is IT Driving the U.S. Productivity Revival?
Year: 2001
Type: article
Abstract: Since 1995, productivity growth has accelerated significantly in the United States. Information technology has always been thought to be the driving force behind this development. In this article by Kevin Stiroh of the Federal Reserve Bank of New York provides strong empirical support for this view. Stiroh finds that the industries that made the largest investments in information technology (IT) in the early 1990s show the largest productivity gains in the late 1990s and that IT capital investment has a large impact of productivity gains. His evidence also supports the view that the U.S. productivity revival is not cyclical in nature, but a long-term or structural phenomenon.
Author: Kevin J. Stiroh
Institution: Federal Reserve Bank of New York
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2102309688