Article

Global economy heading towards a long boom?

February 2000

Authors:

Ecole des Ponts Business School; University of New Brunswick; University of Stavanger

The OECD analysts - the think-tank of the governments of the industrialized countries - forecast the possibility of a sustained long boom over the first decades of the new millennium, lifting the long-run average of living standards to a higher level. Knowledge economy, integration of global markets and environmental sustainability might be the driving forces. However, they could also act as constraints rather than as catalysts. Therefore the years to come must be understood as a rare chance to realize a period of rapid growth. To reach this goal, coherent and integrated policies must make forces work together.

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Engineering services: Emerging Patterns of Knowledge Creation

January 1970

Erik Baark

The New Economy has underscored the importance of knowledge-intensive – or strategic – business services, which have become an increasingly significant component of advanced economic systems (OECD, 1999). The contributions of these services to innovation in the economy are now more widely acknowledged, and a number of studies have explored the dynamics of innovation in knowledge-intensive service ... [Show full abstract] firms (see, e.g., Andersen et al., 2000; Muller and Zenker, 2001; Tomlinson, 2001). Given the new role of these services in economic growth, there is clearly a need for a more detailed understanding of the ways that they create and apply knowledge. Engineering consulting services constitutes a key knowledge-intensive sector that has existed for a long time, but has gained new importance as a result of the intensification of knowledge-based competition. As a result, engineering services are undergoing a process of transformation in the production and application of knowledge. This organizational transformation is related two key driving forces: on the one hand, new opportunities for innovation are created by the application of ICT, enabling better communication and re-use of knowledge within and outside the organization; on the other hand, competitive market pressures are exerting new demand for reliability and integration of services, delivered at lower cost. In addition, as many leading engineering consulting service firms have diversified into global operations during recent decades, networks have been established that enable international sourcing of expertise and service production on a larger scale (Baark, 1999).

Article

An Index Measuring the Deviation of Real Economies from General Equilibria: Evidence from the OECD C...

January 2016 · SSRN Electronic Journal

Yong Tao

Influenced by classical economics, “price mechanism” is often considered as the unique efficient vehicle of driving the free markets; therefore, there is no any position for the government’s role in an Arrow-Debreu’s economy. However, multiple equilibria will result in a “free zone”, which is not controlled by “price mechanism”. Within the framework of an Arrow-Debreu’s economy, we present a ... [Show full abstract] model to show that the “free zone” will be controlled by two parameters, which are marginal labor-capital return and marginal technology return, respectively. In particular, the marginal labor-capital return can be identified with an index of measuring the deviation of real economies from general equilibria. Because the real economies almost always deviate from ideal equilibria, the government will have to play an important role of eliminating the deviation. This finding may shed light on solving economic development dilemma in today’s world. Remarkably, our model is strongly supported by the empirical data from the OECD countries.

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Why We Need Innovation Journalism, and Where It May Have a Market

January 1970

David Nordfors

Innovation Journalism" is journalism about innovation (which is not the same as "innovative journalism", which is about innovations in journalism) and covers technical, business, legal and political aspects of innovations and innovation systems. It enhances the public debate through better common knowledge and understanding of innovation issues. In industrial economies, innovation is key. In ... [Show full abstract] democracies journalism is key. So in democratic industrial economies journalism dedicated to covering innovation should be key. Innovation is today probably the main driving force for economic growth in a majority of the OECD countries, and its importance will grow even more in the near future, when an incresing challenge for many countries will be to maintain wealth with an aging population.

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The regional variation of new technology based firms in Austria

September 1998

During the last two decades the role of new business start-ups has gained a growing interest both from regional economics as well as from (regional) economic policy. It was recognized that not only the large Galbraithian enterprise is the driving force in processes like employment growth or structural economic change, but also small and often new or young firms are playing an active role. In the ... [Show full abstract] 1980s so called new technology based firms (NTBFs) gained considerable attention. It has been argued that the Schumpeterian entrepreneur is an important force for the implementation of new ideas into the market place, often via the formation of NTBFs. In our paper we analyse the structure and the regional variation of new business formation in the high technology sector in Austria. Using a definition based upon the OECD we differentiate the high tech sector in (i) top technology, (ii) higher technologies and (iii) technology orientated services. We demonstrate the relative importance of these groups for the total population of new business start-ups in Austria in the time period ot 1990-1994 as well as for certain sub-populations like manufacturing and services. The main part of our paper discusses the regional variation of NTBFs using the framework of the well known urban incubator hypothesis. It is expected that metropolitan and urban regions have a higher orientation towards high tech (what means the proportion of NTBFs) than the rural or hinterland regions. An additional part of our paper deals with the question wether NTBFs play an important role in the process of structural change of regional economies as has been postulated by various authors during the last couple of years.

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The Role of Urban Agglomerations for Economic and Productivity Growth

June 2017

http://www.csls.ca/ipm/32/Ahrend_Lembcke_Shumann.pdf This article discusses how urban agglomerations – cities – affect economic productivity. It uses an internationally harmonized definition of cities that aims to capture the true extent of an urban agglomeration and is not limited by administrative city boundaries. It shows that labour productivity increases with city size. Among OECD ... [Show full abstract] metropolitan areas, agglomerations with more than 500,000 inhabitants, a 1 per cent population increase is associated with a 0.12 per cent increase in average labour productivity. Partly, this is explained by “sorting” as more productive workers tend to live in bigger cities. But bigger cities provide additional “agglomeration economies” to those working in them. Comparable workers are 0.02-0.05 per cent more productive in cities with a 1 per cent larger population. These differences compound to significant differentials, e.g. a similar worker in Madrid (6 million inhabitants) is, on average, nearly 15 per cent more productive than a worker in Toledo (120,000 inhabitants). Furthermore, the paper also shows that cities affect economic performance beyond their boundaries. Since 1995, per capita GDP growth in regions within 90 minutes driving of a large urban agglomeration has been approximately 0.4 percentage points higher than in those with no large urban agglomeration within 300 minutes of driving.

Article

Charges for Water and Access: What Explains the Differences Among West Virginian Municipalities?

May 2018 · Water Economics and Policy

Examining both spatial and non-spatial econometric analyses with a dataset of 125 municipal water utilities, we investigate utility cost and community factors that explain variation in residential user charges and monthly access charges for water. The results of water charges model are consistent with the theory of water cost determination as water source, debt, and economies of size plus scale ... [Show full abstract] influence residential consumer charges for water. Both models (water charges and minimum monthly access) displayed positive spillover effects, although the only variable in either model with a significant indirect effect is water charges on minimum monthly access charges. Based upon model results, ground water use by utilities lowers water charges and is estimated to save residential customers in West Virginia over $3.6 million annually. West Virginia households typically pay far below the OECD standard of 3 to 5% of household income for municipal water, which may explain why socioeconomic factors do not influence minimum monthly charges for access.

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Australia's system of innovation

January 1970

There is overwhelming evidence that innovation and knowledge intensity are key factors promoting growth in modern economies. Since the early 1990s, OECD analysts have focused increasingly on the growing knowledge intensity of modern economies and the strong links between knowledge intensity and economic growth. Innovation plays a critical role in the knowledge economy. There is growing awareness ... [Show full abstract] that innovation takes place in a system that involves information transfer and communication between a range of players that includes firms, regulatory agents, and research and training organisations. Innovation cannot be understood as something that occurs within isolated organisations. Instead, it must be seen as a process of interaction between a range of players. The institutions, norms, and patterns of behaviour that constitute the social environment of business are an important influence on innovation. This chapter seeks to develop an understanding of the social context of the innovation system and the performance of Australia's system of innovation in international perspective.

Article

On the threshold of a global economy

August 1997

The world's economies, both inside and outside the OECD area, now have the opportunity of developing closer linkages, which bring with them the prospect of a genuinely global economy. Expanding these linkages over the next two decades or so would boost prosperity, reinforce political security and promote environmental sustainability. But progress to this end would require the tackling of a wide ... [Show full abstract] range of obstacles in economic, social and environmental policy and the strengthening of international co-operation. 1.

Article

Skills development for the knowledge economy in Asia: Some conclusions from the OECD experience

June 2014 · Prospects

The development of a knowledge-based economy relies greatly on developing the skills and education needed for inclusive and sustainable development so that growth will reach all parts of the society. Addressing skills development for all is challenging for all OECD countries; Asian economies are working towards developing integrated pathways of skills and employment. This paper addresses some key ... [Show full abstract] aspects of skills development in OECD countries through a case study of small and medium enterprises as a key sector in both OECD and Asian economies. It extracts some lessons from this analysis that apply to the unique nature of skills development in Asia.

Chapter

Japan

January 1968

International Information Centre for Local Credit

The Japanese economy suffered enormous losses during World War II, but only 10 years after its postwar start it reattained its prewar level in both production and standards of living. In the subsequent decade the economy has achieved a remarkable expansion in scale together with rapid progress in business rationalization, and is approaching the level of European economies. In April 1964 Japan ... [Show full abstract] became an Article 8 nation under the International Monetary Fund Agreements and was also accepted as a regular member of the O.E.C.D.

Chapter

Introduction

January 2016

Ye Liu

China’s meteoric rise since the 1980s has many dimensions. Between 1978 and 2007 it achieved an average annual economic growth rate of 9.6 % (Zakaria 2008; Jacques 2012: 490) which, despite the recent slow-down, still far exceeds the OECD average. It has the largest capital reserves of any country (Anderlini 2010) and is now the second largest economy in the world by GDP. At the same time, it has ... [Show full abstract] achieved rapid improvement in living standards among its 1.3 billion population, lifting about 500 million people out of extreme poverty (UNDP 2016).

Article

The Knowledge Economy as a Development Potential for Industrialized Countries and a Perspective for...

October 2019 · International Journal of Knowledge-Based Organizations

Based on a panel of 51 countries (22 developed and 29 developing) for a period from 2002 to 2012, this study develops a number of indicators and indexes to compare these two groups of countries according to their knowledge economy content. Results show that in OECD countries, knowledge plays a central role in economic performance and growth. These countries have managed to convert knowledge to ... [Show full abstract] ability; they are called knowledge-based economies. Developing countries, although they use knowledge, only few of them are regarded as knowledge-based. The success of a strategy of building the knowledge economy requires investments in knowledge which translates into expenditures on research and development and a strong education system.