Download e-book for kindle: A new economy: the changing role of innovation and by Organization for Economic Cooperation and Development OECD

By Organization for Economic Cooperation and Development OECD

ISBN-10: 9264176942

ISBN-13: 9789264176942

What's using contemporary development in OECD nations? Why is it that their degrees of GDP according to capita aren't any longer converging? Why is it that a few nations, working on the technological frontier, the place advances are tricky, seem to be widening the distance? This examine indicates that good fortune calls for no longer a few silver bullet, yet various complementary components that help the innovation-intensive progress exemplified via new info and verbal exchange applied sciences comparable to the net and web functions like digital trade. Supportive guidelines comprise these favorable to cutting edge start-ups and to monetary platforms in a position to aid them, those who facilitate the reorganisation required to harvest the whole merits of ICT, regulatory and institutional frameworks that facilitate hyperlinks among technological know-how and undefined, and efforts to coach and procure the mandatory human capital, in addition to public help for easy medical study.

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Extra info for A new economy: the changing role of innovation and information technology in growth

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Thus far, its investment in ICT equipment appears to have been more rapid than that of other major OECD regions. In constant (chained 1996) prices, investment in information processing equipment and software as a share of total equipment and software increased from 29% in 1987 to 52% in 1999 (BEA, 2000). Figure 18. Private investment in equipment and software in the United States, 1959-99 Current USD billions 1000 1000 Total equipment and software Information processing equipment and software 900 900 800 800 700 700 600 600 500 500 400 400 300 300 200 200 100 100 0 0 59 19 61 19 63 19 65 19 67 19 69 19 71 19 73 19 Source: US Bureau of Economic Analysis, March 2000.

VC investment goes considerably beyond financing, as it adds complementary measures to increase the chances of success. First, business plans are intensively scrutinised – a very low proportion of submitted plans are actually financed. Second, VC disburses funds by stages. To ensure that money is not wasted, managers of VC-backed firms must return regularly to their investors for additional capital. Third, VC monitors managers intensively, by demanding representation on the board of directors and preferential stock embodying restrictive clauses.

Australia has also benefited from immigration. Between 1987 and 1999, its net Figure 17. Share of Silicon Valley start-ups by ethnic origin (%) 25 25 Indian Chinese 20 20 15 15 10 10 5 5 0 0 1980-84 46 1985-89 1990-94 1995-98 Source: Saxenian (1999). OECD 2000 NEW ECONOMY 26/06/00 18:40 Page 47 The Changing Role of Innovation in Growth Performance inflow of scientists and engineers numbered 55 000, of which 27 000 were engineers and 16 000 computer professionals. The net inflow is equivalent to the graduate output of engineers and scientists of five to six Australian universities over the period.

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A new economy: the changing role of innovation and information technology in growth by Organization for Economic Cooperation and Development OECD

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