Empirical Analysis on Japan's IT investment: Outlook of revised data based on the 2005 Input-Output Table(in Japanese)

The purpose of this paper is to conduct an empirical analysis on the impact of Japan's IT investment based on the revised macroeconomic data we build in this paper using 2005 Input-Output Table published March 2009. For this purpose, we build the time series data of Japan's IT investment and related capital stock and then we estimate the impact on production expansion and job creation induced by the IT investment. These analyses reveal that Japan's IT investment has been sluggish over the last two decades and that macroeconomic impacts of the investment on hardware such as computers and communications equipment have been declining while those on software have been increasing since late 1990s.