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