Information and Communication Technology: Dynamics, Integration and Economic Stability

Paul Welfens

Chapter I in 50 Years of EU Economic Dynamics, 2007, pp 137-182 from Springer

Abstract: 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.

Keywords: Exchange Rate; Foreign Direct Investment; Real Exchange Rate; Revealed Comparative Advantage; Exchange Rate Expectation (search for similar items in EconPapers)
Date: 2007
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Working Paper: Information and Communication Technology: Dynamics, Integration and Economic Stability (2006)
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DOI: 10.1007/978-3-540-74055-1_10

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