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Total factor productivity enablers in the ICT industry: A cross-country firm-level analysis

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  • Nakatani, Ryota
Abstract
Advancements in productivity in the digital economy constitute an important engine for economic growth. What drives productivity dynamics in the information and communication technology (ICT) sector? This study examines the productivity dynamics of ICT firms across countries from the perspective of corporate balance sheets. We study the effects of intangible assets and leverage on productivity growth using firm-level panel data from five industrialized countries. We find that intangible assets positively affect the total factor productivity in the ICT sector. The positive effect of intangible assets on total factor productivity growth is larger for ICT manufacturing firms than for ICT service firms. We also find that leverage has a positive relationship with total factor productivity development in the ICT sector. In addition, our empirical results substantiated that productivity is catching up to the technological frontier. Furthermore, larger firms and/or younger firms generally show higher total factor productivity growth than their peers. Economies of scale are more prominent in the ICT service sector than in the ICT manufacturing sector. Our findings contribute to the understanding of cross-country productivity dynamics in the ICT sector at the firm level in the digital economy.

Suggested Citation

  • Nakatani, Ryota, 2021. "Total factor productivity enablers in the ICT industry: A cross-country firm-level analysis," Telecommunications Policy, Elsevier, vol. 45(9).
    • Handle: RePEc:eee:telpol:v:45:y:2021:i:9:s0308596121000926
    DOI: 10.1016/j.telpol.2021.102188
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    Cited by:

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    3. Nakatani, Ryota, 2022. "Productivity drivers of infrastructure companies: network industries to maximize economies of scale in the digital era," MPRA Paper 115531, University Library of Munich, Germany.
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    6. Rehman, Naqeeb Ur & Nunziante, Giulia, 2023. "The effect of the digital economy on total factor productivity in European regions," Telecommunications Policy, Elsevier, vol. 47(10).
    7. Ryota Nakatani, 2024. "Multifactor productivity growth enhancers across industries and countries: firm-level evidence," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 14(2), pages 401-446, June.
    8. Qilong Cao & Jinglei Li & Hongru Zhang & Yue Liu & Xun Luo, 2022. "Blockchain and Firm Total Factor Productivity: Evidence from China," Sustainability, MDPI, vol. 14(16), pages 1-15, August.
    9. Ryota Nakatani, 2023. "Does debt maturity influence productivity?," Economics Bulletin, AccessEcon, vol. 43(1), pages 116-136.
    10. Ryota Nakatani, 2024. "Food companies' productivity dynamics: Exploring the role of intangible assets," Agribusiness, John Wiley & Sons, Ltd., vol. 40(1), pages 185-226, January.
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    12. Choe, Hyoung-Seon & Yang, Chang-Gyu & Jun, Sung-Youl & Lee, Sang-Gun, 2023. "A study on forward and backward linkage effects in South Korea's telecom industry across generations," Telecommunications Policy, Elsevier, vol. 47(8).

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    More about this item

    Keywords

    Productivity; Intangible assets; Leverage; Information and communication technology; ICT; Economies of scale; Firm age;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L63 - Industrial Organization - - Industry Studies: Manufacturing - - - Microelectronics; Computers; Communications Equipment
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • L96 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Telecommunications
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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