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High-tech capital formation and economic performance in U.S. manufacturing industries An exploratory analysis
Open accessAbstract
Abstract To what extent have investments in ‘high-tech’ office and information technology capital ‘delivered’ in terms of reducing costs and facilitating productivity growth? In this paper we explore relationships between industry performance measures and investments in high-tech office and information technology capital for two-digit manufacturing industries from 1968 through 1986. We find limited evidence of a positive relationship between profitability and the share of high-tech capital in the total physical capital stock ( OF K ). However, we find that increases in OF K are negatively correlated with multi-factor productivity and tend to be labor-using. We also find some evidence that industries with a higher proportion of high-tech capital have higher measures of economic performance, although within industries increasing OF K does not appear to improve economic performance.
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Berman, E., Bound, J., & Griliches, Z. (1994) · The Quarterly Journal of Economics · doi:10.2307/2118467 · Cited by 1,870
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Metadata
- Authors
- Berndt, E. R., & Morrison, C. J.
- Venue
- Journal of Econometrics
- Publisher
- Elsevier BV
- Published
- 1995-01
- Volume
- 65
- Issue
- 1
- Pages
- 9-43
- ISSN
- 0304-4076 (ISSN-L)
- OpenAlex
- W2028887564
- Cited by
- 311
- References
- 1
- FWCI
- 15.73
- Type
- journal article
- Language
- en
- Open access
- green
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