The key metric was achieving economies of scale. Execution of these steps is not straightforward. Industry cost data are presented and a model is proposed to explicitly represent the role of standards in the innovation process and illuminate private sector investment risks. This Oxford Companion to the Economics of China presents an original collection of perspectives on the Chinese economy's past, present and future. In this context, a detailed rationale is provided for maintaining a viable domestic technology-based manufacturing capability. A major policy debate continues in many industrialized nations over the rationales for government support of technology development.
Particular emphasis is given to infratechnologies because they are largely supplied by sources outside the industry and have consequently been largely overlooked in previous discussions of industrial policy. One can hope, however, that its influence. Efficiency gains therefore exist from provision of these infratechnologies by a single government laboratory. The achievement of this technological advance would provide substantial leverage on productivity. One can hope, however, that its influence. How do the nature of advanced manufacturing technology and the globalization of markets determine the types and extent of supporting infrastructure? It also compares existing U.
The economics literature has pointed to the critical role of infrastructure roads, railroads, canals, etc. Although the vast majority of books that have Lexile measures did not change, a small subset of books required updated Lexile measures. No Asian nations were important in either one. First, the extent and diversity of global demand and global competition greatly exceed anything previously experienced. However, a number of difficult technological problems must be overcome in a timely fashion in order to achieve these benefits. It also compares existing U.
Machines were designed, plants were organized, and labor skills were specified in order to produce large volumes of undifferentiated products. International in scope, this set should be a valuable source of reference to both economists and lawyers concerned with the rapidly developing field of intellectual property. By mid- 1988,81 of these industry-level consortia had formed under the provisions of the 1984 Act. This debate is unstructured due to the weakness of the underlying economics. This paper investigates empirically the importance of technological catch-up in explaining productivity growth in a sample of countries since the 1960s. Gregory Tassey's excellent new book will help to remedy that situation.
One can hope, however, that its influence. Although examples of cooperative research have existed for several decades, the number and variety of relationships have expanded rapidly in the 1980s as corporations, universities, and governments have embraced this strategy. Focusing primarily on trade policy, tax policy, and regional policy, Richard Baldwin and coauthors show how these models can be used to make sense of real-world situations. The results of these models and analysis is a framework for matching various forms of underinvestment with efficient strategic. This is an interdisciplinary literature, drawing on the work of scholars in the fields of economics, public policy, sociology and management.
How did the country do it? It also compares existing U. The authors begin by presenting and analyzing the widest range of new economic geography models to date. This fact raises an important question: What are the appropriate economic growth policies for attaining and maintaining a competitive position in global markets? The first part of the book analyzes economic trends to show how they are affected by technological change and the evolving nature of foreign competition. Gregory Tassey's excellent new book will help to remedy that situation. Bringing together his most important work in one accessible volume, this collection of his essays will be welcomed by students and researchers in the history of economic thought. The results indicate that absorptive capability is a factor in explaining growth, with the most robust finding that countries with relatively high numbers of students studying science or engineering abroad experience faster subsequent growth.
Unfortunately, even with the correct knowledge production function, the required data are difficult to collect. For example, semiconductor design and manufacturing requires a large and diversified set of measurement infratechnologies and associated standards that are applied directly to individual products and also to the highly automated production systems used in the modern semiconductor plant. The results of these models and analysis is a framework for matching various forms of underinvestment with efficient strategic and policy responses. Research policy must therefore include standardization in analyses of technology-based growth issues. A developed and efficient innovation system has characteristics making imitation by foreign competitors difficult and thereby enables sustained competitive advantage.
However, the paper also indicates that the significance of coefficients varies across specifications and samples, suggesting caution in focusing on individual results. A critical dimension of this debate has been the role the government should play in achieving desired growth rates. Specifically, the paper provides 1 a rationale for why an advanced economy such as the United States needs a manufacturing sector; 2 examples of the process of deterioration of competitive positions for individual industries and, more important, entire high-tech supply chains; 3 an explanation of the inadequacy of current economic models for rationalizing needed new policy strategies; and 4 a new economic framework for determining both policy mechanisms and targets for those mechanisms, with emphasis on the systems nature of modern technologies and the consequent requirement for public—private innovation ecosystems to develop and deliver these technologies. Underinvestment by industry in measurement-related data and technologies results from both the nonproprietary character of these infratechnologies and from the existence of economics of scale and scope in the research required to produce them. Economists will find the book invaluable. Eventually, the policy choice is between traditional macrostabilization policies that increase aggregate demand but do not significantly increase the real incomes of workers, resulting ultimately in inflation; or a technology-driven investment strategy that increases the productivity of the economy, thereby increasing the capacity of an economy to grow without inflation.
From there they proceed to examine previously unaddressed welfare and policy issues including, in separate sections, trade policy unilateral, reciprocal, and preferential , tax policy agglomeration with taxes and public goods, tax competition and agglomeration , and regional policy infrastructure policies and the political economy of regional subsidies. Considerable research supports the argument that hardware and software components are most efficiently supplied to services by a manufacturing sector that is geographically close and institutionally integrated with the service applications. Tassey writes that his book is aimed at three audiences: economists and policy analysts interested in economic growth issues; business managers concerned about the policy environment for technology, and those actually involved in the policy-making process. In addition to students, academics, researchers, and policymakers involved in development economics and foreign aid, this Handbook will appeal to all those interested in development issues and international policies. The results of these models and analysis is a framework for matching various forms of underinvestment with efficient strategic and policy responses. We also hope to stimulate additional research on these topics.