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Knowledge Capital and the "New Economy" - Firm Size, Performance And Network Production (Hardcover, 2000 ed.)
Loot Price: R2,997
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Knowledge Capital and the "New Economy" - Firm Size, Performance And Network Production (Hardcover, 2000 ed.)
Series: Economics of Science, Technology and Innovation, 20
Expected to ship within 10 - 15 working days
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According to its proponents, the `new economy' is associated with
sustainable growth, increased demand for labor and zero inflation.
On the micro-level, this bright avenue into the future is propelled
by knowledge capital, flexibility and new ways of organizing
production, such as clusters and networks. Progress in information
technology, together with massive deregulation on the national and
the international levels, have been credited with setting this
development into motion. The concept of the `new economy' has been
rapidly embraced by politicians, as it seems to offer a way out of
the traditional trade-off between unemployment and wage inflation.
However, empirical evidence regarding the microeconomic mechanisms
of the `new economy' is scarce. Knowledge Capital and the `New
Economy': Firm Size, Performance and Network Production intends to
narrow this gap by empirically analyzing the composition of
knowledge capital and how knowledge capital is distributed across
firms of different size. Moreover, the impact of knowledge capital
on firms' profitability and international competitiveness is also
examined. Finally, we compare cluster dynamics and the
institutional set-up in Europe and the U.S., with the purpose of
identifying regulations that seem to hinder a conducive environment
for expanding and dynamic European clusters. The results of this
study emphasize the role of knowledge capital and flexibility.
Thus, irrespective of how sustainable the `new economy' turns out
to be, the policy implications in terms of providing institutions
that facilitate knowledge-enhancing economic activities, flexible
markets and transparent incentive structures are undeniable.
Countries that fail in this respect may find themselves trailing in
the international growth and welfare rankings.
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