Productivity Drivers: Empirical Evidence on the Role of Digital and Intangible Capital, FDI and Integration
We examine the drivers of labor productivity at aggregate and sectoral levels focusing on tangible and intangible ICT capital, FDI and global value chain participation. The analysis, based on a panel dataset of 18 EU countries, the US and Japan over the period 2000–2017, reveals an important role of ICT capital, especially intangible ICT capital embodied in software and databases, in driving labor productivity growth. Furthermore, backward global value chain participation is also positively associated with productivity. Contrary to expectations, we do not find evidence of a productivityenhancing effect of foreign direct investment when controlling for phantom FDI related to special purpose entities.
ADAROV Amat;
KLENERT David;
MARSCHINSKI Robert;
STEHRER Robert;
2022-09-05
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
JRC122489
0003-6846 (online),
https://www.tandfonline.com/doi/abs/10.1080/00036846.2022.2047598?journalCode=raec20,
https://publications.jrc.ec.europa.eu/repository/handle/JRC122489,
10.1080/00036846.2022.2047598 (online),
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