By Organization for Economic Cooperation and Development OECD
What's using fresh progress in OECD nations? Why is it that their degrees of GDP according to capita aren't any longer converging? Why is it that a few nations, working on the technological frontier, the place advances are tough, seem to be widening the space? This examine indicates that good fortune calls for no longer a few silver bullet, yet a number complementary elements that aid the innovation-intensive development exemplified via new details and conversation applied sciences reminiscent of the web and net functions like digital trade. Supportive rules contain these favorable to cutting edge start-ups and to monetary structures capable of aid them, those who facilitate the reorganisation required to harvest the whole advantages of ICT, regulatory and institutional frameworks that facilitate hyperlinks among technology and undefined, and efforts to coach and procure the required human capital, in addition to public help for simple medical study.
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Additional resources for A new economy: the changing role of innovation and information technology in growth
In several services, such as retailing and retail banking, expansion at international level is important once firms face saturated domestic markets. It also allows companies to gain access to new knowledge, innovative concepts, services and ideas, and to new technologies. Foreign direct investment has grown more rapidly than trade over the past decade. It plays a particularly large role in diffusing knowledge and ideas in services sectors, where local presence is often a necessity. OECD 2000 41 NEW ECONOMY 26/06/00 18:40 Page 42 A New Economy?
High-technology industries have experienced the greatest increase in international trade during the 1990s (Figure 14), much of which is intra-industry trade and reflects the splitting of production and innovation processes across the globe to take advantage of local knowledge and comparative advantages. Growing trade and global competition in these high-technology industries have created scale economies, which have put downward pressures on prices (Mann, 1999). 40 The increase in high-technology trade is not spread equally across the OECD area.
Data are based on patent applications to the European Patent Office, by date of priority. OECD 2000 EU United States 37 NEW ECONOMY 26/06/00 18:40 Page 38 A New Economy? The Changing Role of Innovation and Information Technology in Growth Table 2. Relative importance of technology transfer channels1 Australia Belgium Denmark France Germany Ireland Italy2 Luxembourg Norway United Kingdom Use of others' inventions 4 4 3 2 5 2 5 4 2 2 Contracting out of R&D 8 5 6 5 6 3 6 5 5 6 Use of consultant services 5 3 4 4 3 5 3 5 3 4 Purchases of other enterprises 7 7 7 7 7 6 8 8 6 7 Purchases of equipment 1 6 2 3 4 4 1 3 8 5 Communication services from other enterprises 2 2 1 1 1 1 2 1 1 1 Hiring of skilled personnel 3 1 5 6 2 7 4 2 4 3 Other 6 8 8 ..