This volume focuses on the Information and Communication (ICT) revolution and its impact on economic growth. Even though the emergence of the knowledge economy is at the center of attention by media and is often a subject of economic policy debate, economic research on the issue is still relatively underdeveloped and many aspects of it are still awaiting proper theoretical and empirical scrutiny. One important question is whether, as many economists and opinion leaders maintain the knowledge economy and the new information technologies have fostered the birth of a 'new economy' which by inducing a strong productivity growth in most sectors, is behind the impressive growth of GDP experienced by the US economy. Empirical research has in fact been unable to provide a conclusive answer to this question. This book debates this issue and provides the opportunity to discuss the economic and social effects of the ICT revolution. It also focuses on the functioning and the micro-economic structure of the ICT sector, as well as on its impact on various industries, on the financial system and on the labor market. It analyses the role of the ICT revolution on regional development and it addresses important policy issues such as its consequences for antitrust legislation and government regulation.
Contents: Introduction. Technology-based entrepreneurs: does the Internet make a difference?, Massimo G. Colombo and Marco Delmastro; The effect of multimarket scope on firms' compatibility choice, Marc van Wegberg; Information technology revolution and Italian banks: a new Schumpeterian view?, Donato Masciandaro; Producer services, innovation and outsourcing in the new economy, Martin Zagler. Competition policy for network and Internet markets, Robert D. Willig; Mergers between incumbent Telecom operators: the role of mutual moderation, Patrick Rey; IPR-based monopolies and defensive leveraging strategies: some reflections on the essential facility doctrine, Alberto Heimler and Antonio Nicita. The impact of IT investment on productivity and efficiency, Luigi Paganetto, Leonardo Becchetti and David Andr Londono Bedoya; The economic impact of the computer revolution: a progress report, Michael T. Kiley; The 'New Economy' in the OECD, Francesco Daveri; Reorienting training policies to meet the challenges of information and communication technologies, Lisa M. Lynch; Raising the speed limit: US economic growth in the information age, Dale W. Jorgenson and Kevin J. Stiroh. The location of industry in a knowledge-driven European economy, Adriaan Dierx and Fabienne Ilzkovitz; Regional specialization, local externalities and clustering in information technology industries, Gilles Le Blanc; Direct communication, networking and location of innovative activities, Andreas Kopp; Post-Fordism, new economy and the case of the Italian 'Mezzogiorno', Luigi Paganetto and Pasquale L. Scandizzo; Index.