Tracing back growth to a single, new technology suffers from severe measurement problems

The limited number of observations relative to the seemingly open-ended list of other potential growth correlates at the country level makes it almost impossible to reject alternative interpretations of the same macroeconomic correlation. Faster-growing countries, for instance, have more resources and economic opportunities available to invest in information and communication technology (ICT) infrastructure; thus, the direction of causality may run from growth to ICT rather than the other way around.

michael minges

Minges, M. (2015). Exploring the Relationship Between Broadband and Economic Growth. ICTdata.Org.