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Knowledge Capital and the “New Economy”

Firm Size, Performance And Network Production

  • Book
  • © 2000

Overview

Authors:
  1. Pontus Braunerhjelm

    1. The Research Institute of Industrial Economics (IUI), Stockholm, Sweden

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Part of the book series: Economics of Science, Technology and Innovation (ESTI, volume 20)

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-vii
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  2. Introduction

    • Pontus Braunerhjelm
    Pages 1-15

  3. The Size Distribution of Firms: Some Stylized Facts

    • Pontus Braunerhjelm
    Pages 17-35

  4. Does Knowledge Investment Increase Profitability?

    • Pontus Braunerhjelm
    Pages 37-52

  5. How is Knowledge Capital Related to Firm Size and Internationalization?

    • Pontus Braunerhjelm
    Pages 53-70

  6. Clusters, Venture Capital and Growth

    • Pontus Braunerhjelm
    Pages 71-83

  7. The Influence of Agglomeration on Large Firms’ Investments—Evidence From Swedish Foreign Direct Investment

    • Pontus Braunerhjelm
    Pages 85-105

  8. Conclusion

    • Pontus Braunerhjelm
    Pages 107-111

  9. Back Matter

    Pages 113-118
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Keywords

About this book

According to its proponents, the `new economy' is associated with sustainable growth, increased demand for labor and zero inflation. On the micro-level, this bright avenue into the future is propelled by knowledge capital, flexibility and new ways of organizing production, such as clusters and networks. Progress in information technology, together with massive deregulation on the national and the international levels, have been credited with setting this development into motion.
The concept of the `new economy' has been rapidly embraced by politicians, as it seems to offer a way out of the traditional trade-off between unemployment and wage inflation. However, empirical evidence regarding the microeconomic mechanisms of the `new economy' is scarce. Knowledge Capital and the `New Economy': Firm Size, Performance and Network Production intends to narrow this gap by empirically analyzing the composition of knowledge capital and how knowledge capital is distributed across firms of different size. Moreover, the impact of knowledge capital on firms' profitability and international competitiveness is also examined. Finally, we compare cluster dynamics and the institutional set-up in Europe and the U.S., with the purpose of identifying regulations that seem to hinder a conducive environment for expanding and dynamic European clusters.
The results of this study emphasize the role of knowledge capital and flexibility. Thus, irrespective of how sustainable the `new economy' turns out to be, the policy implications in terms of providing institutions that facilitate knowledge-enhancing economic activities, flexible markets and transparent incentive structures are undeniable. Countries that fail in this respect may find themselves trailing in the international growth and welfare rankings.

Authors and Affiliations

  • The Research Institute of Industrial Economics (IUI), Stockholm, Sweden

    Pontus Braunerhjelm

Bibliographic Information

  • Book Title: Knowledge Capital and the “New Economy”

  • Book Subtitle: Firm Size, Performance And Network Production

  • Authors: Pontus Braunerhjelm

  • Series Title: Economics of Science, Technology and Innovation

  • DOI: https://doi.org/10.1007/978-1-4615-4415-9

  • Publisher: Springer New York, NY

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer Science+Business Media New York 2000

  • Hardcover ISBN: 978-0-7923-7801-3Published: 31 May 2000

  • Softcover ISBN: 978-1-4613-6987-5Published: 12 October 2012

  • eBook ISBN: 978-1-4615-4415-9Published: 06 December 2012

  • Series ISSN: 1381-0480

  • Edition Number: 1

  • Number of Pages: VII, 118

  • Topics: Economic Growth, Industrial Organization

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