Globalization, Economic Growth and Innovation Dynamics

Business & Finance, Economics, International Economics, Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy
Cover of the book Globalization, Economic Growth and Innovation Dynamics by Paul J.J. Welfens, S. Jungbluth, John T. Addison, H. Meyer, David B. Audretsch, Thomas Gries, Hariolf Grupp, Springer Berlin Heidelberg
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Author: Paul J.J. Welfens, S. Jungbluth, John T. Addison, H. Meyer, David B. Audretsch, Thomas Gries, Hariolf Grupp ISBN: 9783662038130
Publisher: Springer Berlin Heidelberg Publication: March 14, 2013
Imprint: Springer Language: English
Author: Paul J.J. Welfens, S. Jungbluth, John T. Addison, H. Meyer, David B. Audretsch, Thomas Gries, Hariolf Grupp
ISBN: 9783662038130
Publisher: Springer Berlin Heidelberg
Publication: March 14, 2013
Imprint: Springer
Language: English

In the new global economy, more countries have opened up to international competition and rapid capital flows. However, in the triad the process of globalization is rather asymmetric. With a rising role of multinational companies there are favorable prospects for higher global growth and economic catching-up, respectively. Theoretical analysis suggests key ingredients of sustained growth, but there is also a new concept of a long-term equilibrium income gap in which convergence is rather unlikely. The analysis also picks up European and US labor market issues in the context of economic globalization and raises the question of which EU policies in the field of labor market reform and of innovation policies are adequate.

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In the new global economy, more countries have opened up to international competition and rapid capital flows. However, in the triad the process of globalization is rather asymmetric. With a rising role of multinational companies there are favorable prospects for higher global growth and economic catching-up, respectively. Theoretical analysis suggests key ingredients of sustained growth, but there is also a new concept of a long-term equilibrium income gap in which convergence is rather unlikely. The analysis also picks up European and US labor market issues in the context of economic globalization and raises the question of which EU policies in the field of labor market reform and of innovation policies are adequate.

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