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The New Economy and Economic Growth in Europe and the US by Paul J. J. Welfens, David Audretsch (auth.), Professor David B. Audretsch, Professor Dr. Paul J. J. Welfens (eds.) is a nonfiction available to read on EtoBox.

What is The New Economy and Economic Growth in Europe and the US about?

The strong productivity growth of the US and Scandinavian countries in Europe in the 1990s has raised the question whether the ICT sector - information and com munication technology (that is computers plus telecommunications plus digital services)-is the new driving engine of high growth in leading OECD countries. Judging by the empirical evidence for the US, including a new study by McKinsey which gives mixed evidence, it is still too early to clearly dismiss Robert G. Gordon's hypothesis that the acceleration of US output growth is (dis regarding quality problems of price measurement) exclusively due to cyclical factors and increased productivity growth in the computer sector. The counter hypothesis is associated with research by Stiroh and others who argue that there are positive productivity spillover effects from ICT to other sectors. Indeed, it is not clear ex ante whether mainly the Old Economy or the so-called New Economy stands to benefit most from high innovation rates and strong productivity shifts associated with the spreading of digital services. Interestingly, the increased eco nomic role of the internet also contributes to the internationalization of the econ omy sin

Who reads The New Economy and Economic Growth in Europe and the US?

Author

Paul J. J. Welfens, David Audretsch (auth.), Professor David B. Audretsch, Professor Dr. Paul J. J. Welfens (eds.)

Publisher

Springer-Verlag Berlin Heidelberg

Published

2002

Language

EN

ISBN

9783642077364

Category

nonfiction

Subjects

Political Science, Economics, Management