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The Contribution of the Information, Communications, and Technology Sector to the Growth of U.S. Economy: 1997-2007

Harold Furchtgott-Roth & Jeffrey Li

ABSTRACT: In this paper, we identify the contribution of the information, communications, and technology sector to the economic growth of the United States. For the years 1997-2002, we find the sector contributed 19% of measurable economic gross output growth, or more than 582 billion 2013 dollars. For the period 2002-2007, we find the sector contributed 9.3% of gross output growth, or more than 340 billion 2013 dollars. These contributions to economic growth are above the level of economic activity that would have occurred had economic factors remained constant. The ICT sector also contributed substantially to the economic growth of many American industries.

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