1. 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?

2. 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

3. 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

4. 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?

5. 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.

6. 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?

7. 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?