2017

Swedish Lessons: How Important are ICT and R&D to Economic Growth?

Reprint No. 2017:39

Author(s): Harald Edquist and Magnus HenreksonYear: 2017 Title: Structural Change and Economic Dynamics Volume (No.): 42 (September) Pages: 1–12
Online article (restrictions may apply)

Swedish Lessons: How Important are ICT and R&D to Economic Growth? Harald Edquist and Magnus Henrekson


We investigate to what extent ICT and R&D capital are associated with value added growth in the Swedish business sector. By estimating output elasticities based on data for 47 different industries for the period 1993–2012 we show that ICT and R&D capital are significantly associated with value added for most specifications. We also divide ICT capital into hardware and software capital. To our knowledge, this distinction has not been made in any previous study at the industry level. In this case only the estimated elasticity of software is significantly different from zero. Finally, we use the growth accounting framework to compare the contribution from ICT and R&D to value added growth when output elasticities are based on either income shares or weighted least squares (WLS) estimates. The contribution of ICT to value added growth increases from 0.9 to 1.5 percentage points when WLS estimates are used instead of income shares.


Reference:
Edquist, Harald and Magnus Henrekson (2017), "Swedish Lessons: How Important are ICT and R&D to Economic Growth?". Structural Change and Economic Dynamics 42(September), 1–12.

Magnus Henrekson

Contact

Ph: +46 (0)8 665 4502
magnus.henrekson@ifn.se

Integrating Immigrants into the Nordic Labour Markets

An Overall Perspective

Pages-from-2019-Calmfors-Gassen---Integrating-Immigrants-into-the-Nordic-Labour-Markets.gif

Denmark, Finland, Norway and Sweden face similar problems of integrating large groups of immigrants, especially low-educated ones from outside the EU, into their labour markets. In this volume, edited by Lars Calmfors, IFN, and Nora Sánchez Gassen in cooperation with researchers from across the Nordic Region analyse how labour market integration of immigrants can be promoted. 

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