A slowing growth rate of the Korean economy since the financial crisis in 1997 has been drawing much attention concerning the issue of sustainable growth in the future. Now that the growth rates of factor inputs have slow down, the Korean economy is likely to be faced with a sharp drop in its potential growth unless the growth rate of total factor productivity rises.

This study uses growth accounting and regression analyses on each industry to see what contributions have been made to the improvement in overall economy through the application of information technology. Information technology has been spotlighted not only because its productivity has grown so fast but also complementary innovations for using information technology in other areas have been encouraged.

The study first estimates Korea’s capital accumulation in information and communications to see if there is enough to improve the productivity of overall economy of Korea, and then compares the results with those from advanced countries. From the macro-economic perspective, the capital for information and communications has accumulated quite fast since the mid-1990s, but that is mostly attributed to the rapid growth of production in information and communications. However, the capital proportions in production and usage are found to be lot less com-pared to those in advanced countries.

Meanwhile, the growth of total factor productivity in the usage of information and communications appears to have been improved after 2000. But, looking into the changes in specific industries, the possibility of these accumulated capital of information and communications has greatly contributed to the improvement in productivity of other sectors is highly unlikely other than a few such as the business services sector. The regression analysis also fails to provide sufficient evidence on the contribution of using information and communications, or it only implies that a considerable amount of time has been put forth to improve productivity. Taking into account such results from empirical analysis, to improve productivity in the overall economy, it is the creation of institutional environment that is most needed so that the complementary innovations to utilize information technology would take place easily.

발간사
요 약

제1장 서 론

제2장 정보통신기술과 총요소생산성 간의 관계에 대한 논의

제3장 정보통신자본 및 총요소생산성 자료의 구축
　제1절 산업별 정보통신자본 자료의 구축
　제2절 산업별 성장회계
　　1. 성장회계방법
　　2. 노동투입 및 생산요소별 부가가치비중 자료
　　3. 경제 전체 성장회계 결과

제4장 산업별 정보통신자본 및 총요소생산성
　제1절 산업별 정보통신자본
　제2절 산업별 총요소생산성
　제3절 회귀분석
　　1. 총요소생산성과 정보통신자본 간의 관계
　　2. 추정방법 및 결과

제5장 정책적 시사점

참고문헌

부 록