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Information and Communication Technology: Dynamics, Integration and Economic Stability

In: 50 Years of EU Economic Dynamics

Author

Listed:
  • Paul J. J. Welfens

    (University of Wuppertal)

Abstract

The sector of information and communication technology (ICT) is a major driver of the economy in the 21st century. ICT represents a rising share of investment and R&D in OECD countries and thus is of particular relevance for growth and economic competitiveness. From a EU25 perspective, it also is crucial to note that the expansion of ICT is associated with the growth of a networked society in which the flow of information and technology on the one hand is accelerating; at the same time both ICT and digital networking facilitate international outsourcing and offshoring. Offshoring involves foreign direct investment while international outsourcing occurs through trade and arm’s length market transactions.

Suggested Citation

  • Paul J. J. Welfens, 2007. "Information and Communication Technology: Dynamics, Integration and Economic Stability," Springer Books, in: Richard Tilly & Paul J. J. Welfens & Michael Heise (ed.), 50 Years of EU Economic Dynamics, chapter 0, pages 137-182, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-74055-1_10
    DOI: 10.1007/978-3-540-74055-1_10
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    Keywords

    Exchange Rate; Foreign Direct Investment; Real Exchange Rate; Revealed Comparative Advantage; Exchange Rate Expectation;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O00 - Economic Development, Innovation, Technological Change, and Growth - - General - - - General
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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