The Contribution of Information Technology to Economic Growth

Cheng Li

doi:10.4028/www.scientific.net/AMM.411-414.2533

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A Novel Approach for Product Design Scheme Evaluation with Non-Functional Attributes
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Study on the Construction of China Development Bank Co's Main Businesses Framework Based on ERM
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Third-Party Damage Factors Analysis and Control Measures of Daqing-Harbin Oil Pipeline
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Empirical Study on Emergency Inter-Organizational Information Communication Barriers for Expressway Emergency
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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 411-414The Contribution of Information Technology to...

The Contribution of Information Technology to Economic Growth

Abstract:

This paper attempts to analyze whether information technology can promote economic growth Using mathematical modeling methods, this paper established an endogenous economic growth model containing information technology. The results show that advances in information technology are the engine of economic growth, and by improving the quality of capital goods, it reverses the trend of diminishing marginal product of capital goods and achieves transformation of economic growth pattern in the process of promoting economic growth. On the other hand, with the advances of information technology, information dissemination is more efficient. By reducing transaction costs and optimizing resource allocation, it would improve the total factor productivity.

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Periodical:

Applied Mechanics and Materials (Volumes 411-414)

Pages:

2533-2536

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.411-414.2533

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Online since:

September 2013

Authors:

Cheng Li

Keywords:

Economic Growth, Information Processing Method, Information Technology (IT)

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