Rue de la Banque no. 22: Contribution of information and communication technologies (ICT) to growth

The contribution of information and communication technologies (ICT) to economic growth has stabilised since the early 2000s in industrialised countries. To date the euro area has benefited less from this than the United States. Appropriate policies would enable the euro area to catch up.
This Rue de la Banque compares changes in the contribution of ICT to economic growth in the United States, the euro area, and the United Kingdom over the 1970 2013 period. After a long period of sustained growth, ICT diffusion as a factor of production has stabilised since the early 2000s, at levels that are significantly higher in the United States than in the euro area, while the United Kingdom is in a position in between these two areas.