ICT measurement ; the economy A successful strategic partnership in new economic measurement OECD as concept developer for ICT and innovation measurement in a global context Eurostat as leader in practical implementation across statistical systems How can we make the most of these two complementary roles?

ICT measurement ; the economy Evidence now clear that Solow’s paradox is dead macro, industry and firm level analysis shows significant returns to ICT investment Business analysis in US, Japan, across Scandinavia, most EU countries show the same result Why and how productivity changes occur are still not clear to policymakers

ICT measurement ; the economy Still gaps in the measurement system outstanding from last SNA creating effective deflators for rapidly changing ICT products and services getting properly comparable measures of ICT software in national accounts Productivity conclusions are still problematic until these issues are resolved

ICT measurement ; the economy We do know that the EU / US gap isn’t shrinking LSE work shows that US owned firms spend more on ICT they also achieve significantly higher returns on the ICT investment they make, especially in IT enable services ONS work shows the same applies to productivity effect of ICT enabled employees in US owned firms What are they doing that we are not?

ICT measurement ; the economy Are the differences down to ‘complementary investment’? US estimates of ‘knowledge assets’ raise GDP by 9%! R&D, education and training, human and organisational capital, brands etc comparable estimates for EU economies mostly lower Macroeconomic, or even industry, totals don’t tell us why behaviour and performance are different.

ICT measurement ; the economy Comparing firm level effects of ICT across industries and countries provides evidence we need national studies to date broadly in agreement, but all different need to test models of ICT impacts on similar data in different countries Can do this building on standardised surveys across EU Would you like to join in?

ICT measurement ; the economy And other outstanding issues: measurement of ICT in government and its productivity effects better surveys and analysis of some service industries, especially those with high levels of differentiation and personalised products A big question How are the changing economics of knowledge creation changing the way the knowledge economy develops?