Mobile broadband penetration offers potential positive impacts on the economy. The effects of mobile broadband can differ depending on the generation, because higher generation raises the productivity through increases in the upload/download speed. In this study, we analyze the effects of 3G/LTE mobile broadband on economic growth and employment, separately. Most of the existing studies have focused on the effects of fixed broadband, and no research has not yet estimated the effects of mobile broadband by dividing them into 3G/LTE. We show that 3G/LTE has positive effects on economic growth and employment, and find that LTE has greater effects on economic growth than 3G. Furthermore, the paper shows that the effect of LTE is greater in countries in which the information and communication technology (ICT) is used more in the business sectors. In other words, although the LTE dissemination itself has a positive effect on economic growth, the degree of utilization is a factor that determines the economic effect.