Impact of ICT development on economic growth. A study of OECD European union countries

Abstract

Abstract Most of the scientific literature recognizes a positive impact of Information and Communication Technologies (ICT) on economic growth. In contrast, different investigations suggest that this impact is limited or even null, that is, there are mixed results. In view of this problem, we conducted a study whose objective is to analyse the impact of ICT on economic growth. To address the study, we apply Partial Least Squares (PLS), using the databases of Digital Economy and Society Index (DESI) and the Organisation for Economic Co-operation and Development (OECD), which allowed us to analyse those European Economic Community countries, members of the OECD, in order to reduce the differences in economic development between the countries analysed. As far as we know, this is the only work that studies the relationship between ICT and economic growth by measuring ICT with the Digital Economy and Society Index database (DESI), in European Union countries that belong to the OECD and that apply the PLS-SEM technique. Based on the empirical results, the paper suggests that progress in the deployment and use of ICT drives the economic growth of countries that are within the framework of developed European economies.