- 期刊
The Economic Impacts of Information and Communication Technology Development on Macroeconomic Variables in the ASEAN Countries
摘要
This study investigates how information and communication technology (ICT) development affects macroeconomic variables in the Association of Southeast Asian Nations (ASEAN). A dynamic stochastic general equilibrium (DSGE) model, widely used for empirical macroeconomics research, was utilized to compare and analyze the results to determine which variable is most affected by ICT development. As the economy evolves over time, it is affected by unexpected factors such as technology shock. This study utilized yearly data for the period 2008-2015 to compute the steady-state, dynamics, and correlation of technology shock with relevant variables namely: investment (I), consumption (C), labor supply (L_s), capital stock supply (K_s), total factor production (Z), and total production (Y). The impulse response function (IRF) results for 10 periods indicate that, when ICT development was included, investment increased rapidly at first, gradually achieving equilibrium in the seventh period. In contrast, without ICT development, equilibrium was achieved only in the ninth period. Moreover, consumption, labor, and total production initially increased and then reached equilibrium in the eighth, fourth, and ninth periods respectively. However, without ICT development, equilibrium was achieved in the sixth, second, and sixth periods respectively. Capital and total factor production, both with and without ICT development, increased slightly at first and then reached equilibrium within the same period. Thus, the variables affected by ICT development are investment (I), consumption (C), labor supply (L_s), and total production (Y). The most affected variable was investment, followed by labor supply, total production, and consumption.
延伸閱讀
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