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Comparison of Information and Communication Technology Contribution on Newly Industrialized Countries’ Economic Growth

Jurnal Ekonomi Malaysia

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Title Comparison of Information and Communication Technology Contribution on Newly Industrialized Countries’ Economic Growth
 
Creator Farhadi, Maryam
Ismail, Rahmah
 
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Description ABSTRACTIn recent years, progress in Information and Communication Technology (ICT) has caused many structural changes, including the reorganization of economics, globalization, and trade extension, which has led to capital flows and the enhancement of information availability. Moreover, ICT plays a significant role in the development of each economic sector, especially during liberalization processes. Growth economists predict that economic growth is driven by investments in ICT. However, empirical studies on this issue have produced mixed results, due to different research methodology and geographical configuration utilized in the studies. In this paper, we estimate the endogenous production growth model, using panel data of the Newly Industrialized Countries (NICs) in Asia -namely Singapore, South Korea, Hong Kong and Malaysia - over the period of 1990-2007. We find a strong significant positive impactof ICT investment on economic growth for these countries. This indicates that if these countries seek to enhance their economic growth, they need to implement specific policies that facilitate investment in ICT.Keywords: economic growth; information and communication technology; newly industrialized countriesABSTRAKKebelakangan ini, kemajuan dalam Teknologi Maklumat dan Komunikasi (ICT) telah menyebabkan perubahanstruktur seperti pengorganisasian semula ekonomi, globalisasi, dan perkembangan perdagangan, yang membawa kepada pengaliran modal dan mempertingkatkan kesediaan maklumat. Begitu juga ICT memainkan peranan yang signifikan dalam pembangunan setiap sector ekonomi, terutamanya melalui proses liberalisasi. Ahli ekonomi pertumbuhan menjangkakan bahawa pertumbuhan ekonomi didorong oleh pelaburan dalam ICT. Walau bagaimanapun, penemuan empiric berkaitan isu ini menunjukkan keputusan yang berbeza mengikut metodologi yang digunakan dan kawasan kajian. Artikel ini menganggarkan model pertumbuhan endogenos dengan menggunakan data panel Negara Industri Baru (NICs) di Asia, iaitu Singapura, Korea Selatan, Hong Kong dan Malaysia bagi tempoh 1990-2007. Hasil kajian menunjukkan ICT memberi impak yang positif dan signifikan terhadap pertumbuhan ekonomi negara-negara ini. Ini menggambarkan sekiranya negara-negara ini ingin mempertingkatkan pertumbuhan ekonomi, mereka perlu melaksanakan dasar yang boleh menggalakkan pelaburan ICT.Kata kunci: pertumbuhan ekonomi; teknologi maklumat dan komunikasi; negara industri baru
 
Publisher Universiti Kebangsaan Malaysia
 
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Date 2012-10-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
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Format application/pdf
 
Identifier http://ejournal.ukm.my/jem/article/view/1363
 
Source Jurnal Ekonomi Malaysia; Vol 46, No 1 (2012): Jurnal Ekonomi Malaysia
0126-1962
 
Language eng
 
Relation http://ejournal.ukm.my/jem/article/view/1363/1222
 
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