Abstract

MONTES-VERGARA, Francisco José  and  SANCHEZ-TORRES, Jenny Marcela. Economic measurement of the information technologies and communications in Colombia through the Cobb-Douglas function. Entramado [online]. 2017, vol.13, n.2, pp.72-91. ISSN 1900-3803.  https://doi.org/10.18041/entramado.2017v13n2.26222.

The document aims to present the results of applying the function of Cobb Douglas production for the measurement of various production factors, including ICTs, in a country like Colombia, which is in development. The literature review looked at models of economic growth from Arrow (1962) to Barro and Romer (1990). Also the analysis of 249 Scopus database articles included in the period 20012015, to determine applications, methodologies, techniques, externalities and variables. Databases were designed to apply the model of economic growth from Cobb Douglas in the Colombian context, with time series between 1998 and 2015. This paper evidence Econometrics methods as the methodology of Johansen, testing of unit roots and simultaneity to evaluate the series and use from the Cobb Douglas conceptualization. The work builds databases to measure the ratio of ICT with the product and other variables. The results indicate that in Colombia there are effects of constant yields between ICT and the product, required more interest in the information, it is essential to develop human capital and optimize ICT investment to achieve sustained efficiency sector in the economy.

JEL classification: 047, O41, D24, C32, C32, C87.

Keywords : Economic growth; aggregate productivity; production; time series; methodology.

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