ICT Stochastic Externalities, Technology Innovation and Business Services: Is There an Evidence of Missed Opportunity Growth?
In this paper, we present an analysis of the production process for some OECD countries and consider the new technology of the ICT capital as driver of growth. In doing so, the production function approach adopted allows to disentangle the externalities not exploited. In line with the general-purpose technology theory, we attribute such externalities to the new technology ICT capital. Business services are a relevant vehicle to use better the innovative capital embedded in the production process.