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This paper is an attempt to tease out a typology of economic sectors based on a systems approach to innovation and economic growth that may be useful for policy analysis. The typology explored here revolves around novel products rather than ethereal knowledge-producing entities. This insight...
Persistent link: https://www.econbiz.de/10005446466
Modern growth theory acknowledges that a country's economic prosperity depends in large part on its capacity for technological innovation. Empirical evidence, however, supports the view that not all sectors are equally innovative. As a result, it seems desirable from a public policy perspective...
Persistent link: https://www.econbiz.de/10009275815
Although scholars and policy makers have widely acknowledged the importance of so-called high-technology industries as drivers of economic change, they have paid insufficient attention to the interaction between high-tech sectors and the remainder of the economy in developed countries. We...
Persistent link: https://www.econbiz.de/10009279507
Persistent link: https://www.econbiz.de/10007381332
Patterns of intersectoral growth have featured prominently in the economic development literature for several decades. In particular, a fierce controversy between proponents of ‘‘balanced’’ and ‘‘unbalanced’’ growth dominated much of the discussion on development tactics in the...
Persistent link: https://www.econbiz.de/10009457575
In the earlier years of the twentieth century economists were beginning to gain a deeper understanding of the nature of the economic change. Joseph Alois Schumpeter, for example, argued that the first key step in understanding economic change is to think carefully about innovation. When Kuznets...
Persistent link: https://www.econbiz.de/10005269529
Persistent link: https://www.econbiz.de/10007381276
The process of economic integration has made considerable progress during the 1990s in the European Union (EU). Firstly, with the establishment of a single market in 1993 and now, within a relatively short period of time, the most significant yet, the movement towards a single currency for...
Persistent link: https://www.econbiz.de/10005515382
Persistent link: https://www.econbiz.de/10005515389
In this paper we examine regulatory issues relating to electronic money. The discussion proceeds along three main lines. Firstly, the focus of attention on the potential risks to the financial system is typically on the systemic risk arising from the payments system. Since issuers of electronic...
Persistent link: https://www.econbiz.de/10005515393