Impact of High-Tech Industries Over Time

Abstract

Macro level research shows that the impact of technology varies. On a micro level, strategic technology priorities of businesses have changed over time, translating to different macro level impact. In this study, the objective is to investigate trends of the economic impact of high-tech industries over time, thereby addressing the variations in high-tech impact. Through an analysis of extensive time series regional economic data on U.S. metropolitan regions, the results show that high-tech industries began to influence regional economic performance at the turn of the millennium, escalating in importance before a decline. The study provides explanations and has implications for theory, policy, and strategic management.