How does ICT capital stock affect high-quality economic growth? Evidence from China
Abstract
As an essential driving force to promote industrial upgrading and technological innovation, ICT has gradually become the technological support for high-quality economic growth. This paper adopts the improved perpetual inventory method and entropy weight TOPSIS method to measure China’s ICT capital stock and economic high-quality growth index, respectively, and experimentally examines the effect of the former on the latter. The findings show that the south has a more extensive ICT capital stock than the north, and the coastal region has a better high-quality growth index than the inland region. Meanwhile, high-quality economic growth, which has increased since 2009 and is incredibly robust in the south, positively correlates with ICT capital stock. Further research finds that ICT capital stock can boost high-quality economic growth by raising marketization and human capital. The results provide policy recommendations for enhancing high-quality economic growth.
First published online 19 November 2024
Keyword : ICT capital stock, high-quality economic growth, marketization degree, human capital
How to Cite
Guo, P., Hu, Z., & Hu, X. (2024). How does ICT capital stock affect high-quality economic growth? Evidence from China. Technological and Economic Development of Economy, 1-24. https://doi.org/10.3846/tede.2024.22119
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Guo, K., Cao, Y. Q., Wang, Z. F., & Li, Z. Y. (2022). Urban and industrial environmental pollution control in China: An analysis of capital input, efficiency, and influencing factors. Journal of Environment Manage- ment, 316, Article 115198. https://doi.org/10.1016/j.jenvman.2022.115198
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Hedberg, C., Hermelin, B., & Westermark, K. (2014). Transnational spaces ‘from above’ – The role of insti- tutions in promoting highly skilled labor migration from India to Sweden. Tijdschrift Voor Economische En Sociale Geografie, 105(5), 511–525. https://doi.org/10.1111/tesg.12110
Higón, D. A. (2012). The impact of ICT on innovation activities: Evidence for UK SMEs. International Small Busi- ness Journal: Researching Entrepreneurship, 30(6), 684–699. https://doi.org/10.1177/0266242610374484
Hussain, S., Gul, R., & Ullah, S. (2023). Role of financial inclusion and ICT for sustainable economic de- velopment in developing countries. Technological Forecasting and Social Change, 194, Article 122725. https://doi.org/10.1016/j.techfore.2023.122725
Jensen, R. (2007). The digital provide: Information technology, market performance, and welfare in the South Indian fisheries sector. The Quarterly Journal of Economics, 122(3), 879–924. https://doi.org/10.1162/qjec.122.3.879
Jorgenson, D. W., & Stiroh, K. J. (1999). Information technology and growth. American Economic Review, 89(2), 109–115. https://doi.org/10.1257/aer.89.2.109
Kallal, R., Haddaji, A., & Ftiti, Z. (2021). ICT diffusion and economic growth: Evidence from the sectorial analysis of a periphery country. Technological Forecasting and Social Change, 162, Article 120403. https://doi.org/10.1016/j.techfore.2020.120403
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Ketteni, E. (2009). Information technology and economic performance in U.S industries. Canadian Journal of Economics, 42(3), 844–865. https://doi.org/10.1111/j.1540-5982.2009.01529.x
Khalifa, A. B. (2019). Direct and complementary effects of investment in knowledge-based economy on innovation performance in Tunisian firms. Journal of Knowledge Economy, 10(2), 561–589. https://doi.org/10.1007/s13132-017-0481-1
Khan, H. U. R., Zaman, K., Khan, A., & Islam, T. (2017). Quadrilateral relationship between information and communications technology, patent applications, research and development expenditures, and growth factors: Evidence from the group of seven (G-7) countries. Social Indicators Research, 133, 1165–1191. https://doi.org/10.1007/s11205-016-1402-6
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Kurniawati, M. A. (2022). Analysis of the impact of information communication technology on economic growth: Empirical evidence from Asian countries. Journal of Asian Business and Economic Studies, 29(1), 2–18. https://doi.org/10.1108/JABES-07-2020-0082
Lahouel, B. B., Taleb, L., Zaied, Y. B., & Managi, S. (2021). Does ICT change the relationship between total factor productivity and CO2 emissions? Evidence based on a nonlinear model. Energy Economics, 101, Article 105406. https://doi.org/10.1016/j.eneco.2021.105406
Li, Q., & Wu, Y. (2022). ICT, human capital, and productivity in Chinese cities. Journal of the Asia Pacific Economy, 29(2), 972–993. https://doi.org/10.1080/13547860.2022.2094643
Lin, B. Q., & Zhou, Y. C. (2022). Does energy efficiency make sense in China? Based on the perspective of economic growth quality. Science of The Total Environment, 804(6), Article 149895. https://doi.org/10.1016/j.scitotenv.2021.149895
Liu, P., Zhang, L., Tarbert, H., & Yan, Z. (2022). Analysis on spatio-temporal characteristics and influenc- ing factors of industrial green innovation efficiency-from the perspective of innovation value chain. Sustainability, 14(1), Article 342. https://doi.org/10.3390/su14010342
Liu, Y. F., Li, M. Q., Feng, H. Y., & Feng, N. (2024). Technological cooperation or competition? optimal strategies of incumbent and entrant in ICT markets. Omega, 125, Article 103037. https://doi.org/10.1016/j.omega.2024.103037
Ma, Q., & Shi, F. F. (2023). New urbanization and high-quality urban and rural development: Based on the interactive coupling analysis of industrial green transformation. Ecological Indicators, 156, Article 111044. https://doi.org/10.1016/j.ecolind.2023.111044
Marszk, A., & Lechman, E. (2021). Reshaping financial systems: The role of ICT in the diffusion of financial innovations – Recent evidence from European countries. Technological Forecasting & Social Change, 167, Article 120683. https://doi.org/10.1016/j.techfore.2021.120683
Mollick, A. V., & Vianna, A. C. (2024). Economic growth before and after the fiscal stimulus of 2008–2009: The role of institutional quality and government size. Public Choice, 198(1–2), 189–207. https://doi.org/10.1007/s11127-023-01121-5
Murphy, J. T., Carmody, P., & Surborg, B. (2014). Industrial transformation or business as usual? Informa- tion and communication technologies and Africa’s place in the global information economy. Review of African Political Economy, 41(140), 264–283. https://doi.org/10.1080/03056244.2013.873024
Niebel, T. (2018). ICT and economic growth-comparing developing, emerging and developed coun- tries. World Development, 104, 197–211. https://doi.org/10.1016/j.worlddev.2017.11.024
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