... period was dominated by the spectacular rise of China and India and the continuing emergence of the Gang of Four – Hong Kong, Singapore, South Korea, and Taiwan. However, all the Asian economies ... Sub-Saharan Africa, and North Africa and the Middle East. 19All seven regions of the world economy experienced a surge in investment in IT equipment and software after 1995. The impact of ... INFORMATION TECHNOLOGY AND THE WORLD ECONOMY∗ by Dale W. Jorgenson and Khuong Vu 1. Introduction. The purpose of this paper is to analyze the impact of investment in information technology...