International Digital Technology Cycles and Local Economic Performance: The Balance between Concentration and Diversification
Research Square (Research Square)(2023)
摘要
Abstract The paper studies international dynamics in the development of digital technologies and their effect on local economic performance. We use a structural dynamic factor model to decompose trends in patenting activities across digital technology fields and countries into global and country-specific components. We then examine the impact of these global and country-specific digital technology development cycles on local economic performance and technological specialisation by regressing value added, employment, wages, labour productivity and digital technology specialisa-tion on world and country factors. The empirical results show that the global digital technology cycle plays a significant role in all countries. The study finds a positive relationship between the global digital technology cycle and the economic performance of a country’s ICT sectors. It shows that countries benefit from international efforts to develop digital technologies if their ICT sector encompasses a broad range of technologies and is not specialised in specific digital technologies JEL classification: O31, O33, O47, C38, L86
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关键词
local economic performance,technology,international
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