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ICT and Economic Growth

Evidence from OECD countries, industries and firms

image of ICT and Economic Growth

This report examines the impacts of ICT on business performance and the policies that can help seize its benefits. It argues that ICT remains an important technology for the years ahead, as ICT networks have now spread throughout the economy. What counts now is how the technology should be made to work.

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Policy Implications

This chapter draws implications from the empirical evidence presented in previous chapters for policy makers. It argues that governments should reduce unnecessary costs and regulatory burdens on firms to create a business environment that promotes productive investment. This involves policies to enable organisational change, to strengthen education and training systems, to encourage good management practices, and to foster innovation, e.g. in new applications, that can accompany the uptake of ICT. Moreover, policy should foster market conditions that reward the successful adoption of ICT; a competitive environment is key for this to happen. Governments will also need to work with business and consumers to shape a regulatory framework that strengthens confidence and trust in the use of ICT, notably electronic commerce. Policies to foster growth in services are important too, as ICT offers a new potential for growth in the service sector, providing that regulations that stifle change are adjusted or removed. Finally, the report reaffirms the importance of economic and social fundamentals as the key to lasting improvements in economic performance. A short set of conclusions completes the report...

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