Information & Communication Technology(ICT) And The Improvement Of China's Economic Growth Quality

Since the second half of the 20 th century,the information & communication technology changed with each passing day.ICT represents the direction of development of new productivity,promotes the transformation of industrial economy to information economy.As the new round of technological revolution and industrial transformation,the innovative development and converged applications of the new generation ICT such as the big data,Internet of things,mobile Internet and cloud computing,promote improvement of the production efficiency.New products,new formats and new patterns are constantly emerging,while the digital,network and intelligence trend of economic society become more obvious.Both the developed countries and emerging economies seize the information & communication technology,as a key strategic tool of improving national innovation ability and strengthening the core competitive power,in order to grabthe the highlight of a new-round economic growth.At present,China's economy has entered a stage of "new normal",from rapid growth to the high-speed growth.The traditional growth power start to dwindle.We must focus on improving the quality of economic growth,achieve the balance of scale and quality,speed and efficiency,so as to keep the economy running smoothly.The key to improve the quality of economic growth is making full use of innovations of the new technological revolution,which led by the information communication technology.The innovative application of ICT will improve the quality,improve the supply of factors of factor productivity,and make new industries develop in parallel with the transformation of traditional industries,in order to achieve industrial upgrading and upgrading of the industrial structure optimization.Based on the rapid development and innovative applications of ICT and the realistic demand of improving the quality of economic growth,studying the mechanism of improving the quality of economic growth by information &communication technology,quantizing the contribution and effect of this size reasonably,so as to puting forward the corresponding development strategy isnecessary and urgent.This is also the key point of this thesis.Based on the concept,firstly,the thesis established the construction of ICT to promote the quality of economic growth in the framework of theoretical analysis on the basis of the related theory foundation such as economic growth theory,innovation theory,growth accounting theory and information technology paradigm,and focus on the output and productivity growth as well as the optimization and upgrading of industrial structure.Then,based on the theoretical analysis,the thesis carried out historical investigation in the economic effect of ICT in America this would be used as an example of the role of ICT in promoting the quality of economic growth.After that the thesis maked an empirical study on the contribution and effect of ICT to the improvement of China's economic growth,which based on the estimation of ICT capital stock and capital service,and through the growth accounting model,two sector model and grey relational entropy model.On the basis of theoretical analysis,historical investigation and empirical test,the thesis put forward the corresponding countermeasures and suggestions to improve the quality of economic growth by developing information &communication technology from the reality of development and challenges.Through the research,the thesis gets the following conclusions and perspectives.For the mechanism of improving the quality of economic growth by information &communication technology,the general process mainly includes three levels: ICT capital deepening and productivity improvements,rapidly increasing productivity of ICT production department and the informationalization of ICT application department.It also includes the direct drive effect and spillover effect of information& communication technology.Specifically,in the economic output and productivity level,rapid expansion of the ICT capital stock can produce capital deepening effects,form a new production factor-data,which fastly enter into the economic production system.While it will promote the improvement of the quality of traditional element and allocative efficiency,thus drive the productivity and economic growth significantly.Information & communication technology has representative characters of skill-biased technical change,which can promote steady accumulation of human capital and continuous optimization of the manpower capital structure.In the digital environment,Enterprises' capacity of complementary organization investment andorganizational change have been enhanced.The synergy of information &communication technology innovation,complementary organization innovation and human capital can further improve the contribution of ICT to productivity growth and performance improvement.For the optimization and upgrading of industrial structure,on the one hand,the rapid growth and generational change of the emerging industries constantly upgrading the industrial structure to high-grade level.On the other hand,traditional industries andvance quality and efficiency by applying ICT,and it promotes the establishment of integrated,servitization and intelligence industrial structure.Meanwhile,a lot of new formats have been created by ICT,which becomes a new momentum of industrial transformation and structure optimization.For performance and contribution evaluation,as ICT investment and capital stock speeding up,the contribution degree of ICT capital for economic growth shows a trend of fluctuations rise,and the support and promotion on economic growth is more and more significant.But as a relatively small share of ICT capital in the economy,ICT' growth effect has not given full paly.The rapid growth of the ICT industry's own productivity make its role in promoting the overall productivity improvement continues to strengthen.Therefore,developing information &communication technology and ICT industry,and increasing ICT capital input can and will play more and more important role in supporting economic growth.From the industry level,the ICT industry has a obvious directly contribution to economic growth,while the spillover effects to other industry is relatively small,and has a delay about three years.This suggests that the positive externalities of ICT industry need to be further strengthened.Compared with the ICT manufacturing industry,software industry's spillover effect is smaller,and does not lead to significant economic growth.This is due to the small scale of our software industry,weak technical innovation ability,loss of the core technology and independent product,and imbalance in the structure of hardware and software.In the whole cycle,there has yet to become a good relationship between ICT industry and industry structure.But in recent years,especially after 2009,the promotion of ICT industry to industrial upgrading presents an upward trend.This show that the ICT industry is becoming animportant driving force in the development of other industries and the optimization and upgrading of industrial structure.The structural-bonus of ICT is emerging.Under the new normal,the overall ascension of economic growth quality must make full use of innovations of the new technological revolution.Based on the present economic situation of our country,we must strengthen information &communication technological innovation ability,reinvigorate the traditional industry“stock” and make the emerging industry “increment” stronger,improve the statistical system to adapt to the development of new technology and new area,strengthen the qualified personnel development of ICT industry,build a perfect financial and capital innovation system,and create a favourable environment with institutional innovation and supervision for the ICT industry development to break the restrictions,then we can give full play to the economic effect of ICT so as to improve the quality of economic growth and create a new growth engine.