Contribution of Information and Telecommunication Technologies (ITC) to economic growth in El Salvador
DOI:
https://doi.org/10.5377/ryr.v1i58.17398Keywords:
digital economy, Information and Telecommunications Technologies (ITC), economic growth, growth accountingAbstract
In this paper, a decomposition exercise of the value added of the Salvadoran economy is performed, applying the methodology developed by the LAKLEMS project, to estimate the contribution of the Information and Telecommunication Technologies (ITC) to investment and economic growth dynamics, within a framework of comparative analysis with other seven Latin American countries (Chile, Colombia, Costa Rica, Honduras, México, Peru and Dominican Republic) for the 1990-2018 period. The results of this exercise show that El Salvador reported the lowest growth rate of the value added among the countries in the sample during the period defined. In particular, the contribution of ITC capital to growth of the Salvadoran economy kept below the regional average since the middle of 1990. To take advantage of the opportunities brought by the so called «Fourth Industrial Revolution» (World Economic Forum) and «Fifth Industrial Revolution» (European Commission), El Salvador must decidedly make a bet for investment in ITC infrastructure and work to close the gap in human capital in terms of the abilities and skills required in the realm of Science, Technology, Engineering and Mathematics (STEM).
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Instituto de Ciencia, Tecnología e Innovación (ICTI)
Reality and Reflection
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