Changing boundaries and structure of a technological system: lessons from UK retail banking
This article investigates the factors that have induced and shaped the process of industry evolution of banking in the United Kingdom and, in particular, the reorganization of the retail payments system. It will look at how the effects of technical progress within a changing regulatory framework have contributed to the flourishing of new consumer services, of increasingly specialized technologies and of new models of business organization. In relation to these issues, the paper develops an interpretative framework based on the rapidly expanding body of literature on technological systems. In so doing it argues also that the organization of the payment system has evolved towards a multilayered and increasingly heterogeneous industry in which competition has been fuelled at different levels by the growing diversity of the ecology of agents involved, as well as by the emerging patterns of interaction across them.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Freeman, Chris, 1995. "The 'National System of Innovation' in Historical Perspective," Cambridge Journal of Economics, Oxford University Press, vol. 19(1), pages 5-24, February.
- Martin Fransman, 2001. "Analysing The Evolution Of Industry: The Relevance Of The Telecommunications Industry," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 10(2-3), pages 109-140.
- Brian J. Loasby, 2000. "Market institutions and economic evolution," Journal of Evolutionary Economics, Springer, vol. 10(3), pages 297-309.
- Consoli, Davide, 2005. "Technological cooperation and product substitution in UK retail banking: the case of customer services," Information Economics and Policy, Elsevier, vol. 17(2), pages 199-215, March.
- Antonelli, Cristiano, 2001. "The Microeconomics of Technological Systems," OUP Catalogue, Oxford University Press, number 9780199245536, May.
- Davies, Andrew, 1996. "Innovation in Large Technical Systems: The Case of Telecommunications," Industrial and Corporate Change, Oxford University Press, vol. 5(4), pages 1143-80.
- Antonelli, Cristiano, 2004.
"Diffusion as a Process of Creative Adoption,"
Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio
200403, University of Turin.
- Dosi, Giovanni, 1993.
"Technological paradigms and technological trajectories : A suggested interpretation of the determinants and directions of technical change,"
Elsevier, vol. 22(2), pages 102-103, April.
- Dosi, Giovanni, 1982. "Technological paradigms and technological trajectories : A suggested interpretation of the determinants and directions of technical change," Research Policy, Elsevier, vol. 11(3), pages 147-162, June.
- Robert M. Hunt, 2003.
"An introduction to the economics of payment card networks,"
03-10, Federal Reserve Bank of Philadelphia.
- Hunt Robert M., 2003. "An Introduction to the Economics of Payment Card Networks," Review of Network Economics, De Gruyter, vol. 2(2), pages 1-17, June.
- Richard N. Langlois, 2000. "Knowledge, Consumption, and Endogenous Growth," Working papers 2000-02, University of Connecticut, Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpio:0506006. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.