ISBN: 3540433376
TITLE: Interneteconomics.net
AUTHOR: Welfens
TOC:

Preface v
A. Telecommunications and the Internet Boom: Analysis and Economic Perspectives 1
1. Trends in ICT Markets 1
2. Towards a New Economy 8
2.2 Growth, ICT Dynamics and Innovation 13
2.3 New Economy 17
2.3.1 The Digital Network Economy: Ten Basic Elements of the New Economy 19
2.3.2 Some Reflections on Computers 23
2.4 Information and Communication Technology, Trade and FDI 27
2.5 ICT Dynamics and Entrepreneurship 33
2.6 Internet and Company Dynamics 34
2.7 Competition in and Deregulation of Telecommunications 38
3 Boom in Telecommunications in the OECD 52
3.1 General Trends in Leading Industrial Countries 52
3.1.1 Privatization 54
3.1.2 Some Regulatory Problems after Privatization and Opening-up 56
3.1.3 Mobile Telecommunications: Growth and Auctioning of Licences 57
3.2 Financial Markets and the Internet 67
4. Internet Economics and the Digital Divide within the OECD 68
5. Telecoms Modernization, Productivity and Growth 70
6. Computer Lag, Network Fragmentation and Education Deficits: Policy Challenges in a European Perspective 74
Appendix I: Accounting for the US Productivity Acceleration in the 1990s 77
Appendix II: Relative Price of ICT Capital to Price of Capital and Growth Rates of ICT Capital Formation and Non-ICT Capital Formation in the US 78
B. The Internet in Macroeconomic Analysis and Growth Analysis 79
1. Short Term and Long Term Aspects 79
2. The Internet in Macroeconomic Analysis 80
3. Internet, Telecommunications and Economic Growth 85
4. Internet, Innovativeness and the Real Exchange Rate 88
5. Information & Communication Technology and Growth: Some Neglected Dynamic Aspects in Open Digital Economies 90
5.1 Introduction 90
5.2 The Basic Analytics of ICT 92
5.2.1 Spillover Effects from Computers Used in Households 96
5.2.2 Endogenous Growth in an Open Economy 100
5.2.3 Network Effects and the Macroeconomic Production Function 102
5.2.4 Impact of the Internet in a Model with Human Capital and Unemployment 104
5.3 Conclusions and Policy Implications 107
5.4 High Dynamics of Telecommunications and Productivity Growth 108
C. Telecommunications Policy in the European Union 113
1. Introduction 113
2. Changes in the Telecommunications Sector 117
2.1 Basic Regulatory Problems: Theoretical Aspects 118
2.2 The Competition Problem in Telephony and Foreign Investment 121
2.3 Market Convergence and Distortions from the Media Sector 124
2.4 Theory of Vertical Integration 125
2.5 Special Aspects of Telecoms and Information Markets 130
2.6 Regulations of Telecommunications and Internet Expansion 131
3. Traditional and New View of Telecommunications 134
3.1 Vertical Integration and Political Economy of Liberalization Policy 135
3.2 Implications for Deregulation 136
4 Competition in Network Industries 138
4.1 Network Theory, Technological Progress and Competition 140
4.2 Domestic Competition and Foreign Direct Investment in Telecommunications 144
5. Regulatory Issues 145
5.1 Regulary Framework and Regulatory Policy 145
Appendix I: Monopoly Versus Competition in International Telephony 147
Appendix II: Deregulation Dynamics 150
Appendix III: External Effects of Telecoms Network Expansion 151
Appendix IV: Transfer of Market Power in Interdependent Markets 153
Appendix V: Telecommunications and Trade: Theory, Gravity Equation Analysis and Implications for Economic Policy 154
D. Transatlantic Growth Differentials, ICT Dynamics, Fiscal Policy and Innovation Policy 163
1. Euro Weakness and Transatlantic Growth Differentials 163
2. Theoretical Analysis 166
2.1 ICT Dynamics and Growth 166
2.2 Perspectives on Inflation and Growth 174
2.3 What is the Impact of US Growth Leadership for the Euro? 178
3. Some Long Term Aspects 181
4. Internet, Telecommunications and Innovation 182
5. ICT Dynamics and Economic Policy 185
6. Innovation Policy Challenges 187
Appendix I: Data from IMF Economic Outlook 2001 (or website) 190
Appendix II: A Simple Model of an Economy with Information 194
Appendix III: Innovation, Savings and Growth 197
List of Figures 201
List of Tables 203
References 205
END
