Introduction / Chong-En Bai, Chi-Wa Yuen -- Stock markets in the new economy / Boyan Jovanovic and Peter L. Rousseau -- Value of competitive innovation and U.S. policy toward the computer industry / Timothy F. Bresnahan and Franco Malerba -- Technology dissemination and economic growth: some lessons for the new economy / Danny Quah -- Technological advancement and long-term economic growth in Asia / Jeffrey D. Sachs and John W. McArthur -- Monetary policy in the information economy / Michael Woodford -- Postscript / Chong-En Bai, Chi-Wa Yuen
Summary
Essays on the effects of information technology on the economy. One of the most important forces driving economic performance in the United States and other countries during the 1990s was the rise of information technology. The new technology has had such a significant impact on the economy that "the new economy" emerged as a popular term in both the media and academia. This book, written in an accessible style, examines basic questions about the effects of information technology on various aspects of the economy. The topics include the relationship between innovation and the stock market value of the innovating firm; competition policy; demand factors as determinants of growth; institutional aspects of the innovation process; and the effectiveness of monetary policy in stabilizing the economy
Analysis
BUSINESS/Business Technology
ECONOMICS/Industrial Organization
Notes
"Lectures ... originally delivered ... at the University of Hong Kong in 2001-2002 in celebration of its 90th birthday"--Introduction
