Previous investigations into macroeconomic impact of investments in ICT, while primarily focused on ‗developed‘ economies, have yielded some important insights. For example, it was determined that the ―investments to revenues‖ model works well only if a threshold level of ICT capital infrastructure has been developed, that it is not the quantity, but a quality of the full-time ICT workforce that plays an important role not only in converting a stream of investments in ICT into revenues, but also in achieving a spillover effect of investments that is captured by TFP, the ‗something else‘ that contributes to macro-economic output. In this study we are concerned about the impact of human development, as measured by the human development index (HDI), on macro-economic outcomes and total factor productivity (TFP). The subject of the study is a group of transition economies (TEs), a set of highly related economies that has Leaders group that has some of the characteristics of developed economies & Followers group that has some of the characteristics of developing economies. Our results suggest that while for the Leaders group HDI has a statistically significant impact on GDP that this relationship does not hold for the Followers group. Similarly, our results suggest that while for the Leaders group HDI has a statistically significant impact on TFP that this relationship does not hold for the Followers group.
Samoilenko, Sergey and Osei-Bryson, Kweku-Muata, "Human Development and the Spillover Effects of Investments in Telecoms: An Exploration of Transition Economies" (2010). GlobDev 2010. 2.