Technological Innovation and Economic Performanceby Benn Steil
Information technology accounts for more than one-third of recent U.S. GDP growth and nearly two-thirds of corporate capital investment. "The New Economy" appears omnipresent, but little is actually known about the sources of technological innovation and its impact on economic performance. This seminal volume brings together the research and critical thinking of many of the world's top macro and micro economists to provide a unique, multifaceted perspective. Through the use of detailed, up-to-date country and industry studies, this book provides the most authoritative and detailed analysis ever assembled into the causes of technological innovation and its relationship to economic performance. The country studies cover the United States, Japan, Germany, France, the United Kingdom, and the Nordic states. Nine industry studies examine the Internet, computers and semiconductors, banking, securities trading, venture capital, electric power, agricultural biotechnology, pharmaceutical biotechnology, and authomobiles. Commissioned and brought together for the research project by the world-renowned Council on Foreign Relations, the authors have produced one of the most important compendiums in applied economics to be published in recent times.
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