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Does Information & Communication Technology(ICT) Investment Contribute to Cost Reduction?: An Empirical Analysis of Korean Industries

이기동
한국경제학회 (The Korean Economic Association)|2004.12|The Korean Economic Review|제20권 제2호|pp. 343-366

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참고문헌

주제분류경제학

초록

Abstract

This paper investigates the cost reducing impact of ICT related investment along with substitution possibilities between ICT equipment and other inputs. The empirical analysis is based on a translog cost function model and annual data for a set of the Korean manufacturing industries (1984-99). Reflecting rapid increase in ICT investment in the 90's, the ratio of ICT capital to non-ICT capital (ICT intensity) rose from 1.79% in 1984 to 6.66% in 1999. We examine the cost saving effect of ICT capital by estimating the cost/ICT-capital elasticities. For most industries, our estimated cost/ICT-capital elasticities are negative as expected. However, cost reducing impacts of ICT capital are statistically supported in such industries as all industries belonging to assembly & processing industries, printing industry of consumer goods industries, and metal fabricating of basic material manufacturing industries. We also investigate the relationship between ICT-capital and other inputs by estimating the Allen elasticities of substitution and input demand elasticities with respect to ICT capital in the manufacturing sectors.

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관련 논문AI추천

Information Technology Investment and Productivity Growth in Korea김종일한국경제학회 · The Korean Economic Review2004 · 제20권 제1호韓國 IT産業의 成長要因 및 生産性 分析姜錫勳, 洪東杓한국경제학회 · 경제학연구2003 · 제51권 제4호정보화와 한국 경제성장 및 생산성 변화강두용한국국제경제학회 · 국제경제연구2002 · 제8권 제2호Development of Information Technology Industry and Sources of Economic Growth and Productivity in Korea김선재경제연구소 · Journal of Economic Research (JER)2002 · 제7권 제2호한국 제조업의 IT 자본 투자에 대한 동태적 효율성 검증이명헌한국경제통상학회 · 경제연구2008 · 제26권 제4호제조업 산업별 IT 투자 효과 및 동태적 효율성 분석이명헌한국계량경제학회 · 계량경제학보2009 · 제20권 제4호

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