High-Tech Investment Boom and Economic Growth in the 1990s: Accounting for Quality (ICPSR 1263)

Version Date: Aug 13, 2002

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Principal Investigator(s):
Michael R. Pakko, Federal Reserve Bank of St. Louis

https://doi.org/10.3886/ICPSR01263.v1

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Summary

The rapid pace of economic growth in the 1990s was associated with an increasingly prominent role for investment, particularly for information processing and communications technologies. Given the evident pace of technological advancement in these sectors, official economic statistics have been constructed to take careful account of improvements in the quality of these high-tech capital goods. In this article, the author examines the possibility that this selective accounting for quality improvement has distorted the true importance of high-tech investment in recent economic growth trends. After constructing alternative measures of investment spending that are adjusted for quality change that may go unmeasured in the official data, he finds that the increasing importance of high-tech investment revealed in the official data is quite robust: The prominent role of investment spending during the 1990s, particularly for high-tech capital goods, does in fact represent a significant departure from past trends in the composition of United States economic growth.

Citation

Pakko, Michael R. High-Tech Investment Boom and Economic Growth in the 1990s:  Accounting for Quality. Inter-university Consortium for Political and Social Research [distributor], 2002-08-13. https://doi.org/10.3886/ICPSR01263.v1

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Subject Terms

Geographic Coverage

Distributor(s)

Inter-university Consortium for Political and Social Research
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Time Period(s)

1990 -- 1999

Data Collection Notes

  1. The file submitted is a data file, 0203mpd.xls. These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator if further information is desired.

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Original Release Date

2002-08-13

Version History

2018-02-15 The citation of this study may have changed due to the new version control system that has been implemented. The previous citation was:
  • Pakko, Michael R. High-Tech Investment Boom and Economic Growth in the 1990s: Accounting for Quality. ICPSR01263-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2002-08-13. http://doi.org/10.3886/ICPSR01263.v1
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Notes

  • These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

  • The public-use data files in this collection are available for access by the general public. Access does not require affiliation with an ICPSR member institution.