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High-Tech Investment Boom and Economic Growth in the 1990s [electronic resource]: Accounting for Quality

Michael R. Pakko
Format
Computer Resource; Online
Published
Ann Arbor, Mich. Inter-university Consortium for Political and Social Research [distributor] 2002
Edition
2002-08-13
Series
ICPSR
ICPSR (Series)
Access Restriction
AVAILABLE. This study is freely available to the general public.
Abstract
The rapid pace of economic growth in the 1990s was associated with an increasingly prominent role for investment, particularly for information processing and communications technologies. Given the evident pace of technological advancement in these sectors, official economic statistics have been constructed to take careful account of improvements in the quality of these high-tech capital goods. In this article, the author examines the possibility that this selective accounting for quality improvement has distorted the true importance of high-tech investment in recent economic growth trends. After constructing alternative measures of investment spending that are adjusted for quality change that may go unmeasured in the official data, he finds that the increasing importance of high-tech investment revealed in the official data is quite robust: The prominent role of investment spending during the 1990s, particularly for high-tech capital goods, does in fact represent a significant departure from past trends in the composition of United States economic growth.Cf: http://doi.org/10.3886/ICPSR01263.v1
Contents
Dataset
Description
Mode of access: Intranet.
Notes
Title from ICPSR DDI metadata of 2016-02-11.
Series Statement
ICPSR 1263
ICPSR (Series) 1263
Other Forms
Also available as downloadable files.
Copyright Not EvaluatedCopyright Not Evaluated
Technical Details
  • Staff View

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    a| The rapid pace of economic growth in the 1990s was associated with an increasingly prominent role for investment, particularly for information processing and communications technologies. Given the evident pace of technological advancement in these sectors, official economic statistics have been constructed to take careful account of improvements in the quality of these high-tech capital goods. In this article, the author examines the possibility that this selective accounting for quality improvement has distorted the true importance of high-tech investment in recent economic growth trends. After constructing alternative measures of investment spending that are adjusted for quality change that may go unmeasured in the official data, he finds that the increasing importance of high-tech investment revealed in the official data is quite robust: The prominent role of investment spending during the 1990s, particularly for high-tech capital goods, does in fact represent a significant departure from past trends in the composition of United States economic growth.Cf: http://doi.org/10.3886/ICPSR01263.v1
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