Návratnosť investícií do informačných technológií: empirické dôkazy z panelových dát krajín Európy
The Payoffs from Investing into Information Technology: Empirical Evidence from a Panel of European Economies

Summary/Abstract: Analysis of the empirical relationship between investment in information technology (IT) and growth rate of real GDP per capita in a panel of selected European countries for the period 1999 – 2001 seems to suggest that a 10% increase in the level of investment into IT (as % of GDP) would increase real GDP per capita by 1.2%, controlling for other variables. Switching to a decom-position approach (creating an interaction term), a 10% increase in the level of software and services (as % of GDP) would increase real GDP per capita by roughly 1%, controlling for other variables. Nevertheless, as has been shown in this study using correlation analysis and previous other studies, information technology on its own may not lead to accelerated economic growth unless ac-companied by investment into human capital accumulation, research and development and other IT infrastructure. In this respect, the results of this paper seem to be consistent with previous other empirical findings.

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