The purpose of this study is to examine the impact of national intellectual and information technology capital on economic growth and the productivity in Korea during the period 1971-2003. The growth contributions from standard input factors, information technology (IT) capital inputs, and the business cycle effect are calculated on the basis of the growth accounting framework. This study also investigates the source of productivity growth by OLS estimation, using the extended growth model and drawing attention to the role that national intellectual and IT capital may have played. The results show that national intellectual and IT capital have strongly positive effects on the growth of labor productivity in the long run.