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'Contribution of Information and Communication Technologies to Growth' is part of the World Bank Working Paper series. These papers are published to communicate the results of the Bank's ongoing research and to stimulate public discussion. The worldwide development of information and communication technology (ICT) has accelerated dramatically over the past decade. Technological advances and increased competition have led to falling prices for ICT goods and services, which has provided a strong incentive to replace other forms of capital and labor with information technology equipment....