Technological Innovation and Economic Performance

by Steil, Benn; Victor, David G.; Nelson, Richard R.; Council on Foreign Relations

• ISBN13: 9780691090917
• ISBN10: 0691090912
• Format: Paperback
• Copyright: 2002-01-14
• Publisher: Princeton Univ Pr

Summary

Information technology accounts for over 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 its workings. 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, energy, agricultural biotechnology, pharmaceutical biotechnology, and automobiles. 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 compendia in applied economics to be published in recent times. The contributors are Charles Calomiris, Ian Domowitz, Robert Evenson, Charles Fine, Robert Gordon, Richard Langlois, Josh Lerner, Markku Malkamauml;ki, Patrick Messerlin, Joel Mokyr, David Mowery, Richard R. Nelson, Stephen Nickell, Gary Pisano, Adam Posen, Daniel Raff, Horst Siebert, Timothy Simcoe, Benn Steil, Michael Stolpe, John Van Reenen, David Victor, and Matti Vireacute;n.

Author Biography

Benn Steil is Andre Meyer Senior Fellow in International Economics at the Council on Foreign Relations David G. Victor is Director of the program on Energy and Sustainable Development at Stanford University and Senior Fellow at the Council on Foreign Relations Richard R. Nelson is George Blumenthal Professor of International and Public Affairs, Business and Law at Columbia University

Table of Contents

Contributors	vii
Preface	ix
Acknowledgement	xi
PART I: INTRODUCTION	1	(46)
Introduction and Overview	3	(20)
Benn Steil
David G. Victor
Richard R. Nelson
Innovation in an Historical Perspective: Tales of Technology and Evolution	23	(24)
Joel Mokyr
PART II: COUNTRY STUDIES	47	(180)
The United States	49	(25)
Robert J. Gordon
Japan	74	(38)
Adam S. Posen
Germany	112	(36)
Horst Siebert
Michael Stolpe
France	148	(30)
Patrick A. Messerlin
The United Kingdom	178	(22)
Stephen Nickell
John Van Reenen
The Nordic Countries	200	(27)
Matti Viren
Markku Malkamaki
PART III: INDUSTRY STUDIES	227	(206)
The Internet	229	(36)
David C. Mowery
Timothy Simcoe
Computers and Semiconductors	265	(20)
Richard N. Langlois
Banking and Financial Intermediation	285	(29)
Charles W. Calomiris
Securities Trading	314	(13)
Ian Domowitz
Benn Steil
Venture Capital	327	(20)
Josh Lerner
Pharmaceutical Biotechnology	347	(20)
Gary P. Pisano
Agricultural Biotechnology	367	(18)
Robert E. Evenson
Electric Power	385	(31)
David G. Victor
Automobiles	416	(17)
Charles H. Fine
Daniel M.G. Raff
Bibliography	433	(21)
Author Index	454	(5)
Subject Index	459