publication . Article . 2015

The Impact of Social Media on Economic Growth

Offiong Helen Solomon; Thierry Rayna; Roberto Dell'Anno;
Open Access English
  • Published: 16 Nov 2015
  • Publisher: Applied Economics Letter
  • Country: United Kingdom
Abstract
The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link. This article attempts to investigate the impact of social media (SM) on economic growth. Using information obtained from memberships to social networks, we find that SM has a negative and significant impact on economic growth. This provides evidence in favour of our hypothesis that SM increases the search costs for information and also increases the substitution effect from labour to leisure thereby producing a negative impact on growth.
Subjects
free text keywords: Social media, social networking, economic growth, Substitution effect, Economics, Search cost, Public economics, Social network, business.industry, business
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