Effect of ICT on World Economic Growth

Abstract

This paper aim is to study on the agreement of leading academicians, global organization and industry analyst that there is direct correlation between the use of ICT and world economic growth. Analysis done resulting to empirical studies and research had been carried out between ICT and economic growth found there is both mixed results which depended on the methodology of the research. Engagement and geographical landscape or situation should be considered. Studies that was done previously in the 1990’s that ICT potentially contribute to rapid economic growth. Therefore, with hype of new economy is over further analysis is done in this research study as well. Problem statement is defined and data sampling method is proposed in this study. Latest secondary data resources obtained for the purpose of this study in order to examine the contribution of ICT to macro-economic growth performance. Prior to this analysis, what was observed that in order to enhance economic growth globally, there is a need to implement specific policies that facilitate investment in ICT. Future research will need to study on measuring the impact in detail for the macro-economic studies in comparison to empirical method.