Innovation, Employment and Growth Policy Issues in the EU and the US

1. Auflage 2009
ISBN: 978-3-642-00631-9
Verlag: Springer
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 354 Seiten

Economic development has cyclical dynamics and long-term dynamics - the latter are typically related to demographical changes, innovation and long-term insti- tional changes in open economies. Financial markets - that means mainly capital markets - and labor markets are affected in OECD countries both by innovations and institutional reforms. As regards demographics ageing is a typical challenge on both sides of the Atlantic, and pension reforms in industrialized countries have placed greater emphasis on capital markets than in previous decades. Innovation dynamics certainly are also quite important for all high wage OECD countries. The Lisbon Agenda has put particular emphasis on more growth, higher innovation dynamics and better exploitation of the advantages of a digitally networked society. Traditionally, the US has a lead in global innovations, and the US policy certainly has contributed to the American technological leadership. There still is a per capita income gap in favor of the US and the US labor market situation also looks relatively favorable, but in the ?ve years since 2001 employment growth in the euro area was higher than that of the US. The euro area is, however, a rather heterogeneous set of countries which differ in terms of institutions, attitudes and reform progress - and everywhere governments are aware that there have to be reforms, not least in the context of globalization which bring a more complex and dynamic spatial structure of value-added.

Autoren/Hrsg.

Inhaltsverzeichnis

1;Preface;5
2;Contents;16
3;List of Figures;23
4;1 Structural Change, Innovation and Growth in the Single EU Market;30
4.1;1.1 Introduction;30
4.2;1.2 Theory of Structural Change, Innovation and Growth;34
4.2.1;1.2.1 Basic Dimensions of Structural Change;34
4.2.2;1.2.2 Capital Mobility and Other Non-Neoclassical Imperfections;38
4.2.3;1.2.3 Demand-Side Perspective of Structural Change;40
4.2.4;1.2.4 A Demand-Side and Supply-Side Growth Perspective;41
4.2.5;1.2.5 Dynamic Schumpeterian Perspectives;42
4.3;1.3 Empirical Analysis;45
4.3.1;1.3.1 Selected Innovation Traits and Structural Change;45
4.3.2;1.3.2 The Bazaar-Effect;53
4.3.2.1;1.3.2.1 Motor Vehicles;54
4.3.2.2;1.3.2.2 Machinery and Equipment;56
4.3.2.3;1.3.2.3 Chemical Products;56
4.3.2.4;1.3.2.4 Radio, Television and Communication Equipment;57
4.3.2.5;1.3.2.5 Textiles;58
4.3.2.6;1.3.2.6 Office Machinery;59
4.3.3;1.3.3 Net Bazaar Effect;60
4.3.4;1.3.4 The Current Account and Intermediate Products Plus FDI;61
4.4;1.4 Policy Conclusions;63
4.5;1.5 Annex 1: A Demand-Side and Supply-Side Growth Perspective;66
4.6;1.5 Annex 2: NACE Rev. 1.1. Classification (in Parts);67
5;2 Wage Dispersion in Germany and the US: Is There Compression from Below?;70
5.1;2.1 Introduction;70
5.2;2.2 Theoretical Considerations;71
5.2.1;2.2.1 Wage Compression Form Below: The Accordion Effect;71
5.2.2;2.2.2 Actual and Counterfactual Distribution;72
5.2.3;2.2.3 The Accordion Effect and Inter-Quantile Distances;74
5.2.4;2.2.4 The US as a Reference Case;75
5.2.5;2.2.5 Comparing Different Groups of Workers;76
5.3;2.3 Data;77
5.3.1;2.3.1 Data Sources;77
5.3.2;2.3.2 Harmonization of Data;78
5.4;2.4 Results;80
5.4.1;2.4.1 Comparing the Aggregate Wage Distribution Between Germany and the US;80
5.4.2;2.4.2 Results for Different Skill Groups;83
5.5;2.5 Conclusions;86
6;3 The Performance Effects of Unions, Codetermination, and Employee Involvement: Comparing the United States and Germany (with an Addendum on the United Kingdom)*;89
6.1;3.1 Introduction;89
6.2;3.2 Theoretical Conjectures;90
6.3;3.3 US Evidence;95
6.3.1;3.3.1 Union Effects on Firm Performance;95
6.3.2;3.3.2 The Employee Involvement/High Performance Work Practice Literature;98
6.4;3.4 German Evidence;111
6.4.1;3.4.1 Works Councils and Establishment Performance;111
6.4.2;3.4.2 EI/HPWP, Works Councils and Firm Performance;120
6.5;3.5 Conclusions;131
6.6;3.6 Addendum: The British Evidence on Unionism and Firm Performance;132
6.6.1;3.6.1 Introduction;132
6.6.2;3.6.2 Establishment Performance Outcomes;133
6.6.2.1;3.6.2.1 Profitability;133
6.6.2.2;3.6.2.2 Productivity;136
6.6.2.3;3.6.2.3 Investment;136
6.6.2.4;3.6.2.4 Employment;139
6.6.2.5;3.6.2.5 Plant Closings;141
6.6.3;3.6.3 Unions, Employee Involvement and Other Workplace Practices;141
6.6.4;3.6.4 Interpretation;143
7;4 Ageing and Pension Reforms: Simulations and Policy Options;149
7.1;4.1 Introduction and Overview;149
7.2;4.2 Some Facts About Population Ageing;150
7.3;4.3 The Overlapping Generations Model;151
7.4;4.4 Results;153
7.5;4.5 Concluding Remarks;155
8;5 Ageing and Global Capital Flows;158
8.1;5.1 Ageing and Savings;158
8.2;5.2 Ageing and Investment;159
8.3;5.3 Ageing and Capital Flows: The Case of Germany;160
9;6 Effects of the Ageing Population on Capital Markets;164
9.1;6.1 Introduction;164
9.2;6.2 Supply of Savings;164
9.3;6.3 Availability of Investment Vehicles;167
9.4;6.4 Financial Equilibrium of Individual Countries;167
9.5;6.5 Allocation of Savings;169
9.6;6.6 Some Conclusions;169
10;7 US Economic Outlook: Beyond the Credit Crunch;171
10.1;7.1 International Background: Globalization;171
10.2;7.2 A Long US Upswing;172
10.3;7.3 From Low Interest Rates to High House Prices;173
10.4;7.4 The US Sub-prime Crisis;173
10.5;7.5 A Major Credit Crunch?;174
10.6;7.6 Cyclical Outlook: Rebound in Late 2008;175
10.7;7.7 Longer-term Outlook: Global Rebalancing;176
11;8 Selected Innovation Factors: An International Comparison;178
11.1;8.1 Introduction;178
11.2;8.2 Theoretical and Methodological Background;180
11.2.1;8.2.1 Innovation at the Technological Frontier: Catch-up States, Growth Stars and Laggards;182
11.2.2;8.2.2 Conditions for Innovation;183
11.2.2.1;8.2.2.1 Human Resources;184
11.2.2.2;8.2.2.2 Financing;185
11.2.2.3;8.2.2.3 General Framework Conditions;188
11.2.3;8.2.3 Overall Evaluation of the Drivers of Innovation;190
11.2.4;8.2.4 Do Growth Stars and Laggards Differ in Terms of Their Innovation Indicators?;193
11.3;8.3 Final Remarks;194
12;9 The Innovation Imperative and the Role of SBIR Innovation Awards;197
12.1;9.1 The New Innovation Imperative;197
12.2;9.2 The Importance of Small Business Innovation;198
12.3;9.3 US Strengths in Innovation;199
12.4;9.4 Growing Concerns About US Competitiveness;200
12.5;9.5 Policy Myths and Innovation Realities;202
12.6;9.6 Does Venture Capital Provide the Bridge?;204
12.7;9.7 Bridging the Funding Gap;205
12.8;9.8 The Small Business Innovation Research Program (SBIR);206
12.8.1;9.8.1 The National Academies Assessment of SBIR;208
12.8.2;9.8.2 Some Advantages of the SBIR Concept;208
12.8.3;9.8.3 Current Limitations of the SBIR Concept;209
12.9;9.9 Our Common Innovation Challenges;211
13;10 Trips, Pharmaceutical Innovation and Access to Medicines;212
13.1;10.1 Introduction;212
13.2;10.2 The Economics of Patents;213
13.3;10.3 Patents and the Pharmaceutical Industry;216
13.4;10.4 The Political Economy of Trips and Pharmaceuticals;219
13.4.1;10.4.1 The WTO and Trade Related Aspects of IPRs;219
13.4.2;10.4.2 The Political Economy of TRIPS and Pharmaceuticals;221
13.4.2.1;10.4.2.1 Compulsory Licensing;222
13.4.2.2;10.4.2.2 Parallel Importing;224
13.5;10.5 Concluding Remarks;226
14;11 The Knowledge Society;229
14.1;11.1 The Knowledge Society as a Political Subject;229
14.1.1;11.1.1 UNESCO: Declaration on Science and the Use of Scientific Knowledge;230
14.1.2;11.1.2 Lisbon European Council (23 and 24 March 2000), Preparing the Transition to a Competitive, Dynamic and Knowledge-Based Economy;230
14.1.3;11.1.3 Globalization and Knowledge Society;232
14.1.4;11.1.4 What is Missing in the Political Debate on the Knowledge Economy?;233
14.2;11.2 What Does the History of Economic Thought Tell Us About the Role of Knowledge?;233
14.2.1;11.2.1 Adam Smith: Division of Labor Creates New Knowledge;233
14.2.2;11.2.2 Schumpeter''s View on the ''Driving Force'' of the Economic Development;234
14.2.3;11.2.3 Hayek: The Division of Knowledge;236
14.3;11.3 About the Economics of Knowledge;237
14.3.1;11.3.1 The Starting Point: Knowledge as Good or Process?;237
14.3.2;11.3.2 Knowledge: Created by Competitive Interaction Processes;238
14.3.3;11.3.3 Competition as Search Process;239
14.3.4;11.3.4 The Institutions of Economic Competition;240
14.3.5;11.3.5 The Institutions of Reputation Competition in Scientific Communities;241
14.4;11.4 Conclusions for a Science Policy;242
15;12 Technological and Growth Dynamics in the New Member States of the European Union;246
15.1;12.1 Introduction and Overview;246
15.2;12.2 Relevance of the Theory of Appropriate Technology;246
15.3;12.3 Technology Accumulation, Growth and Development in Stages;249
15.4;12.4 Direction of Technical Change;251
15.4.1;12.4.1 Rapid Increases in the Capital Stock and in Capital-Intensity;251
15.4.2;12.4.2 Direction of Technical Change -- A Case for Capital-Saving Technical Progress in the Manufacturing Sector;254
15.4.3;12.4.3 Capital-Saving Technical Change in the Manufacturing Sector;258
15.4.4;12.4.4 What About the New Member States of the European Union?;260
16;13 Benchmarking Innovation Performance on the Regional Level: Approach and Policy Implications of the European Innovation Scoreboard for Countries and Regions;266
16.1;13.1 A Short Introduction;266
16.2;13.2 The European Innovation Scoreboard (EIS): Approach and Key Results 2006;266
16.2.1;13.2.1 Overall Country Trends;267
16.2.2;13.2.2 Results for Germany;271
16.2.3;13.2.3 Conclusions;273
16.3;13.3 The Regionalised Innovation Scoreboard (RegIS): Approach and Key Results 2006;274
16.3.1;13.3.1 The German Federal Lands in Focus;275
16.3.1.1;13.3.1.1 Key Results for North Rhine Westphalia, Bavaria and Baden-Württemberg;275
16.3.1.2;13.3.1.2 Strengths and Weaknesses Compared to European Average;287
16.3.1.3;13.3.1.3 Conclusions for the Federal Lands North Rhine Westphalia, Bavaria and Baden Württemberg;289
16.4;13.4 Recommendations;290
17;14 Energy Technology Policy in Europe;293
17.1;14.1 Introduction;293
17.2;14.2 A Changed Energy and Policy Context;294
17.3;14.3 The EUs Energy Technology Policies;296
17.3.1;14.3.1 The EU''s Double Approach of ''Technology Push'' and ''Market Pull'';296
17.3.2;14.3.2 Technology Push in the EU;300
17.3.3;14.3.3 Market Pull;302
17.3.4;14.3.4 Carbon Capture and Storage;305
17.3.5;14.3.5 Energy Efficiency;305
17.4;14.4 Assessment;305
17.4.1;14.4.1 Costs;306
17.4.2;14.4.2 Limitations to Cost Reductions and Benefits;309
17.4.2.1;14.4.2.1 Availability of the Renewable Resource;310
17.4.2.2;14.4.2.2 Energy and Carbon Balance;310
17.4.3;14.4.3 Risk of Slowing Cost Reduction;311
17.4.4;14.4.4 Long-term Potential of Renewable Energy;311
17.5;14.5 Conclusion;312
18;15 US Climate Change Emissions Mitigation Policy: Energy Technology Push and Other US Policies;314
18.1;15.1 Introduction;314
18.2;15.2 Background;317
18.2.1;15.2.1 EU Lisbon Strategy;317
18.2.2;15.2.2 EU Climate Policy;317
18.3;15.3 US National Policy;321
18.3.1;15.3.1 US CO 2 Emission Trends;321
18.3.2;15.3.2 US Goals for Emission Reductions;321
18.3.3;15.3.3 US Draft Strategic Plan for the Climate Change Technology Program (CCTP);323
18.3.4;15.3.4 Critique of the Draft CCTP Strategic Plan;325
18.3.5;15.3.5 CCTP Programs and Funding History;325
18.3.6;15.3.6 US International Programs and Activities;326
18.3.7;15.3.7 G8 Gleneagles Plan of Action;327
18.3.8;15.3.8 Asia Pacific Partnership on Clean Development and Climate (APP);328
18.3.9;15.3.9 Energy Policy Act of 2005 (EPACT, P.L. 109-58);328
18.3.10;15.3.10 Funding in 2006 for Climate-Related Energy Programs;329
18.3.11;15.3.11 Climate Legislation and Policy Debates in the 109th Congress;330
18.4;15.4 US Regional and State Policies;331
18.4.1;15.4.1 California's Climate Policies;331
18.4.2;15.4.2 California's Current Programs and Emission Reduction Targets;332
18.4.3;15.4.3 California's Draft Strategic Plan: Climate Action Team (CAT) Report;333
18.4.4;15.4.4 California's Options for a Cap and Trade System;334
18.4.5;15.4.5 Regional and Multi-State Climate Policies;335
18.4.5.1;15.4.5.1 New England (RGGI) Cap and Trade Initiative;335
18.4.5.2;15.4.5.2 Additional State Climate Plans and Policies;336
18.4.5.3;15.4.5.3 Other State (and Canadian Province) Programs that Mitigate Emissions;337
18.5;15.5 Policy Design Issues;338
18.5.1;15.5.1 Energy Efficiency Technology in a Cap and Trade System;338
18.5.2;15.5.2 Energy Efficiency as a Resource Inside the Cap;338
18.5.3;15.5.3 Energy Efficiency as an Offset Outside the Cap;339
18.5.4;15.5.4 Strategies for Multilateral Action;340
18.6;15.6 Conclusion: Some Possible Areas for Transatlantic Cooperation;341
18.6.1;15.6.1 Technology Push and Competitiveness;341
18.6.2;15.6.2 Market Pull Through Technology Deployment and Trading Systems;342
18.6.3;15.6.3 Technology Push Interaction with Market Pull;343
18.7;15.7 Appendix: US Federal Climate Change Funding for CO 2 Mitigation;343
19;16 EU-US International Relations: A Political Science Perspective;347
19.1;16.1 Research Programs in Political Science Analysis of International Relations (IR);347
19.2;16.2 A Realist Perspective;348
19.3;16.3 An Institutionalist Perspective;350
19.4;16.4 A Constructivist Perspective;352
19.5;16.5 A Critical Perspective;355
19.6;16.6 Conclusions;357
20;17 Policy Issues and Fields of Cooperation;363
20.1;17.1 Introduction;363
20.2;17.2 EU-US Perspectives;365