Research on the Relationship between Information Communication Technology Investment, Total Factor Productivity and Economic Growth: Literature Review and Prospects
Wei Qiying

Abstract
It is found by sorting relevant literatures that, as the research deepens and the information level rapidly develops, more and more scholars affirm the promotion effect of information communication technology (ICT) investment on total factor productivity (TFP) and economic growth. In the meantime, however, there is “productivity paradox” as well. ICT investment is influenced by time delay effect, measuring error and insufficient capital stock. There are “productivity paradox” of ICT to certain extent in countries and regions with different development levels, which features stage characteristics and threshold effects. When the development of ICT breaks through this threshold, the “productivity paradox” disappears, and the contribution of ICT investment to TFP and economic growth will be gradually highlighted.

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