Evaluation of information and communication technologies as the factor increasing labour productivity

Abstract

In the context of economic globalisation and international openness, one of the most relevant goals of every country's economic policy is speeding up the labour productivity growth. In light of globalisation, one of productivity increasing sources could be information and communication technologies (ICT) development. Taking this into consideration, the paper aims to ground or deny the impact of ICT on labour productivity of EU countries both in the conceptual and empirical levels. Therefore, it discusses theoretical aspects of ICT development and presents theoretical frameworks of ICT development impact on labour productivity and economic growth. The research was performed using the data of EU-27 of 2001-2011. The main conclusion of the study might be that ICT development is a resource for labour productivity increase in EU states; however, labour productivity in low, medium and high productivity countries is influenced by different ICT development indicators.