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This book provides a survey of the theory and of the empirical knowledge about the links between market structure and technological change.
The past two decades have seen a gradual but noticeable change in the economic organization of innovative activity. Most firms used to integrate research and development with activities such as production, marketing, and distribution. Today firms are forming joint ventures, research and development alliances, licensing deals, and a variety of other outsourcing arrangements with universities, technology-based start-ups, and other established firms. In many industries, a division of innovative labor is emerging, with a substantial increase in the licensing of existing and prospective technologies. In short, technology and knowledge are becoming definable and tradable commodities. Although researchers have made significant advances in understanding the determinants and consequences of innovation, until recently they have paid little attention to how innovation functions as an economic process. This book examines the nature and workings of markets for intermediate technological inputs. It looks first at how industry structure, the nature of knowledge, and intellectual property rights facilitate the development of technology markets. It then examines the impacts of these markets on firm boundaries, the division of labor within the economy, industry structure, and economic growth. Finally, it examines the implications of this framework for public policy and corporate strategy. Combining theoretical perspectives from economics and management with empirical analysis, the book also draws on historical evidence and case studies to flesh out its research results.
An analysis of market response to technological performance
The technological revolution has reached around the world, with important consequences for business, government, and the labor market. Computer-aided design, telecommunications, and other developments are allowing small players to compete with traditional giants in manufacturing and other fields. In this volume, 16 engineering and industrial experts representing eight countries discuss the growth of technological advances and their impact on specific industries and regions of the world. From various perspectives, these distinguished commentators describe the practical aspects of technology's reach into business and trade.
Study of economic implications of technological change in the USA - covers industrial development, productivity growth, automation, redundancy, labour mobility, employment policy, inventions and innovations, industrial research and decision making, government policy, scientific research, etc. References.
This book provides a survey of the theory and of the empirical knowledge about the links between market structure and technological change.
Through three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.
Discusses the technological change and financial innovation that commercial banking has experienced during the past 25 years. Describes the role of the financial system in economies and how technological change and financial innovation can improve social welfare. Surveys the literature relating to several specific financial innovations, which are new products or services, production processes, or organizational forms. The past quarter century has been a period of substantial change in terms of banking products, services, and production technologies. Moreover, while much effort has been devoted to understanding the characteristics of users and adopters of financial innovations, we still know little about how and why financial innovations are initially developed.
Much is written in the popular literature about the current pace of technological change. But do we have enough scientific knowledge about the sources and management of innovation to properly inform policymaking in technology dependent domains such as energy and the environment? While it is agreed that technological change does not 'fall from heaven like autumn leaves,' the theory, data, and models are deficient. The specific mechanisms that govern the rate and direction of inventive activity, the drivers and scope for incremental improvements that occur during technology diffusion, and the spillover effects that cross-fertilize technological innovations remain poorly understood. In a work that will interest serious readers of history, policy, and economics, the editors and their distinguished contributors offer a unique, single volume overview of the theoretical and empirical work on technological change. Beginning with a survey of existing research, they provide analysis and case studies in contexts such as medicine, agriculture, and power generation, paying particular attention to what technological change means for efficiency, productivity, and reduced environmental impacts. The book includes a historical analysis of technological change, an examination of the overall direction of technological change, and general theories about the sources of change. The contributors empirically test hypotheses of induced innovation and theories of institutional innovation. They propose ways to model induced technological change and evaluate its impact, and they consider issues such as uncertainty in technology returns, technology crossover effects, and clustering. A copublication o Resources for the Future (RFF) and the International Institute for Applied Systems Analysis (IIASA).
In this wide ranging exposition of the various economic theories of technological change, Stanislaw Gomulka relates them to rates of growth experienced by different economies in both the short and the long term. Analysis of countries as diverse as Japan, the Soviet Union and the United Kingdom demonstrates that there is an interdependence between technological change and the institutional and cultural characteristics of different countries, which can have a profound effect on their rates of growth. All of the major, relevant models are discussed, including those of Kuznets and Phelps, but throughout the emphasis is on the creation of a unified theoretical framework to help explain the impact of technological progress on both a micro and a macro scale.