ERIC Number: ED461160
Record Type: Non-Journal
Publication Date: 2001
Reference Count: N/A
The New Economy: Beyond the Hype. The OECD Growth Project. Economics.
Clarke, Rory; Durand, Martine; Pilat, Dirk; Torres, Raymond
Shifts that have taken place in growth patterns of the economies of Organisation of Economic Co-Operation and Development countries in recent years are examined. The key factor to examine is productivity, since its increase allows the achievement of faster rates of noninflationary economic expansion. By the end of the 1990s, evidence of productivity growth driven by information and communication technology (ICT) emerged. A surge in hardware and software investment, new networks between suppliers, and expanded consumer choice played their part. ICT appears to facilitate productivity only when accompanied by increased skills and changes in the way work is organized. Policies that combine ICT, human capital, competition, innovation, and entrepreneurship with inflation control are likely to enhance productivity. These factors are mutually reinforcing and not as beneficial used separately. Chapter 1 examines the facts about growth in GDP capital in OECD countries in the past decade. Chapter 2 examines the kinds of policies that are needed to enhance the wider diffusion of ICT. Chapter 3 argues that policies concerning innovation can allow new technologies to expand. Chapter 4 looks at how human capital can promote growth. Chapter 5 focuses on the role of business creation. Chapter 6 warns that the balance of economic and social factors is vital to growth if its benefits are to be widely shared. (Contains 64 references.) (RKJ)
Descriptors: Economic Change, Economic Impact, Economic Progress, Economic Research, Information Technology, Productivity, Technology Transfer
Organisation for Economic Cooperation and Development, Washington, 2001 L St., N.W., Suite 650, Washington, DC 20036-4922. Tel: 800-456-6323 (Toll Free). For full text: http://www.SourceOECD.org.
Publication Type: Reports - Evaluative
Education Level: N/A
Authoring Institution: Organisation for Economic Cooperation and Development, Paris (France).