| Research Abstract |
To clarify the contribution of the change of social structure by information technology revolution to labor productivity and it's growth since 1990 in U. S. A. and Japan, I developed the econometric model which divide the capital stock into the information-related capital stock and the other capital stock to estimate the production function.
The theory of New Economy has been emphasized that the 1990's economic growth in U. S. A. has depended on the information technology revolution. But we could not find such relationship before the change of estimation method of GDP at October 1999. However, we become to be able to confirm the above relationship by using the date of 93NA after 2000.
By using the above my econometric model and 93SNA date, I could also get the following significant results.
(1) The information-related capital stock gives positive effect to labor productivity growth since 1990 in U. S. A. and Japan. So, I think the productivity paradox disappeared in 1990's at U. S. A. and Japan.
(2) Comparing the determinant of labor productivity between U. S. A. and Japan, Japanese contribution rate of information-related capital stock deepening by information technology revolution is still lower than that in U. S. A.
(3) Comparing the determinant of labor productivity growth between U. S. A. and Japan, Japanese contribution rate of information-related capital stock per man-hour of employment is smaller than that in U. S. A.
From the above results, in Japan, The accumulation of the information-related capital stock is necessary by all means to get out of long stagnation after the collapse of bubble.
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