The Effect of Information and Communication Technology (ICT) on Inflation in the Selected Countries
Subject Areas : Business ManagementAbbas Memarnejad 1 , Monireh Dizaji 2
1 - Ph.D. in economics and member of the faculty of science and research unit of Islamic Azad University
2 - Graduated from Ph.D. in Economics, Department of Science and Research, Islamic Azad University
Keywords: inflation, Information &, Communication Technology (ICT), Selected Countries,
Abstract :
In this article, the effect of Information and Communication Technology (ICT) on the selected countries has been studied. So, at first the theoretical basics & ICT channels affecting inflation have been identified; then by using panel data in time periods of 1998-2005, the effect of ICT on inflation in the selected countries has been studied. The results have showed that the effect of ICT on inflation in the selected countries was largely negative & meaningful (at least with 90 percent of certainty) in the range of -4.64 to -1.56, while the effect of ICT on inflation was different during the time period.
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Wadhwani, Sushil, D. (2000), "The Impact of the Internet on uk Inflation ", Delivered at the London school of Economics on 23 February 2000.
WDI (2008), “World Development Indicarators".
_||_Altig, David and Paul Gomme (1998), "In Search of the NAIRU", Economic Commentary, Federal Reserve Bank of Cleveland, May.
Bailey, J. (1998), "Electroin Commerce: Prices and Consumer Issues for three Products: Books, Compact Discs and Software", DS TI / ICCP / IE (98) 4 / Final.
Brayton, Flint, John M. Roberts and John C. Williams (1999), "what s' Happened to the Phillips Curve?", Working paper, Federal Reserve Board, Washington, September.
Brynjolfsson, E. (2000), "Beyond Computation: Information Technology, Organizational Trans Formation and Business Practices ", Jaurnal of Economic Perspectives, 14(4), fall, 23-8.
Cecchetti. Stephen G. (2002)," The New Economy and the Challenges for Macroeconomic Policy”, Working Paper 8935, National Bureau of Economic Research, Cambridge.
Choi, S. Y., Stahl, D. Y. and Whinston, A. B. (2003),'' The Economics of Electronic Commerce'', Macmillan Technical Publishing, United States.
Coppel. Janathan (2000), "E – Commerce: Impacts and Policy Challenges", Economics Department Working Papers, No. 252.
Coppell, J. (2002), "E- Commerce: Impacts and Policy Challenges", OECD, Working Papers, NO. 252, June 2002.
Davis E Philip and Jakob Madsen, (2001), "Productivity and Equity Returns; a Century of Evidence for 9 OECD Countries", Working Paper 01-12, Brunel University
Dedrick J, vijay Gurbaxani and Kenneth L. Kraemer(2003), "Information Technology and Economic Performance: A Critical Review of the Empirical Evidence", Center for Research on Information Technology and Organizations,University of California, Irvine.
Degeratu, A. , A. Rangaswamy and J. Wu (1998), "Consumer Choice Behaviour in Online and Regular Stores: The Effects of Brand Name, Price and other Search Attributes", paper Presented at Marketing Science and the Internet, INFORM College on Marketing Mini – Conference, Cambridge, Massachusetts, 6-8 March.
Delong, J. Bradford (2000 a), "Macroeconomic Implications of the ' New Economy'", Available at: www.j-bradford-delong.net May.
Dumagan, Jesus. Gurmukh Gill (2002), “Industry-level Effects of Information Technology use on productivity and Inflation”, chapter IV.
Goldman Sachs (2000), "The shocking Economic Effect of B2B", Global Economics Paper, No. 37.
Gomme, Paul (1998), "What Labor Market Theory Tells us about the New Economy", Economic Review, Federal Reserve Bank of Cleveland, Quarter III, 16-24.
Gordon, Robert J. (1997), "The Time – Varying NAIRU and Its Implications for Economic policy",Journal of Economic Perspectives, 11(1), winter, 11-32.
Gupta, T., A. Qasem (2002), "Reduction of Price Dispersion through Semantic E-C: A Position Paper ".
Hobijn, Bart and Boyan Jovanovic (2001), "The Information Technology Revolution and the Stock Market: Evidence", American Economic Review, 91, 1203-1220.
Hoon yi, Myung., changkyu choi (2005), “The effect of the Internet on inflation: panel data evidence” , journal of policy Modelig 27(2005), 885-889.
Jahangard, E. (2005). The Effect of Information Technology on the Manufacturing of Factory industry in Iran. Quarterly Journal of Economic Research. 25, 83-107, (In Persian).
Julius, De Anne, D. (1999), "Back to the future of low Global Inflation", The Maxwell fry Global finance Lecture, University of Birmingham, Wednesday, 20 October.
Komeyjani, A., & Mahmoudzadeh, M. (2008). The Role of Information Technology in Iran's Economic Growth (Growth Accounting Approach). Economic Journal, 2, 75-77, (In Persian).
Kramer and Dedrick (2001), "Information Technology and Economic Development: Results and Policy Implications of Cross Country Studies", in M. Pohjola (ed.) Information Technology, Productivity, and Economic Growth, Oxford: Oxford university Press.
Lee, H. (1997), "DO Electronic Marketplaces Lower the price of Goods?” Communications of the ACM, Volume 41, No. 12.
Mahmoudzadeh, M., & Asadi, F. (2007). The Effects of Information and Communication Technology on the Growth of Labor Productivity in the Economy of Iran. Quarterly Journal of Economic Research, 43, 153-184, (In Persian).
Meijers, Huub. (2006), “Diffusia of the Inernet and low inflation in the information economy”, Information Economics and policy, 18 (2006), 1-23.
Meijers, Hubb (2000), "Diffusion of the Internet and Low Inflation in the Information Economy", MERIT, Maastricht, International Institute of Infonomics, Heerlen, and Available at: http://meritbbs.unimaas.nl.
Meijers, Huub. (1999), "Low Inflation in the Economy and the Role of the Internet", MERIT, Maastricht, International Institute on Infonomics, Heerlen.
Meyer, Laurence H. (2000), "The Economic out look and the Challenges Facing Monetary Policy", Speech at the Century Club Breakfast Series, Washington University, October 19.
OECD (2004), "The Economic Impact of ICT: Measurment, Evidence and Implications", Available at: www. OECD.Org.
Osterman, Paul (1999), "Security Prosperity: New Rules for the New Economy", Working USA 3(4), November / December, 5-8.
Quah, D. (2003), "Digital Goods and the New Economy", Center for Economic Performance, London School of Economics and Political Science.
Smith, Michael D., Joseph Bailey and Erik Brynjolfsson (1999), "Understanding Digital Markets: Review and Assessment", in: Brynjolfsson and Kahin (eds.), Understanding the Digital Economy, MIT Press, Forthcoming, Availableat: http:// ecommerce. mit.edu/ papers / ude.
Stiglitz, Joseph (1997), "Reflections on the Natural Rate Hypothsis", Journal of Economic perspectives,11(1), winter, 3-10.
Summers, Lawrence H (2000 a), "The United States and India in a New Global Economy", Remarks to the Confederation of Indian Industry, Mumbai India, January 16.
United Nations (2005)," Core ICT Indicators, Partnership on Measuring ICT for Development", Printed in UN – ESCWA, Beirut 05-0552, November 2005.
United Nations) 2006(, “Information Economy Report 2006, the Develipment Perspective”, New York and Geneva.
Varian, Hal R. (2001), "Economics of Information Technology", University of California, Berkeley, July 2001, Revised: March 23, 2003.
Wadhwani, Sushil, D. (2000), "The Impact of the Internet on uk Inflation ", Delivered at the London school of Economics on 23 February 2000.
WDI (2008), “World Development Indicarators".
