The question is why this did not materialise. The contributions from ICT technologies (e.g. computers and the internet) to labour productivity growth come from three main sources: a direct contribution from the production of ICT capital, a direct contribution from the use of ICT capital in the production of goods and services, and indirectly from possible ‘spillover’ effects from the use of ICT capital.
In the years following the global financial crisis, the confluence of strong economic growth, low and stable inflation, ample liquidity, and broad market confidence has allowed policymakers to pursue structural reforms to strengthen our buffers against external and domestic sources of headwinds.