Value capture and policy Design in a Digital Economy

Dan Breznitz, Martin Kenney, Petri Rouvinen (Corresponding Author), John Zysman, Pekka Ylä-Anttila

Research output: Contribution to journalArticleScientificpeer-review

10 Citations (Scopus)

Abstract

Pervasive information and communication technology (ICT), intertwined with global dispersion of supply chains, is inducing a sizable structural transformation. All the articles in this special issue highlight that even though technology is the key driver, the reactions of businesses and countries to these transformations will depend on economic, political, and social arrangements within each organization and society. The competitive landscape of the ICT industry itself is likely to remain in flux. Also in other industries, both value creation and value capture are becoming increasingly complex-and remain more favorable for the developed countries than some commonly used measures suggest. According to the prevailing economic thinking, public policies should set market-friendly "rules of the game" and then stay out of the way. In the ICT domain, technical standards, spectrum allocations, and market power associated with various types of lock-ins play crucial roles calling for more active public involvement. In particular, the dynamic aspects of competition and anti-trust policies are important yet complex. While there is limited scope for sectoral or horizontal industrial policies, this special issue provides alternative avenues for considering matrix or systemic policies emphasizing education, openness, and national competitiveness.

Original languageEnglish
Pages (from-to)203-207
Number of pages5
JournalJournal of Industry, Competition and Trade
Volume11
Issue number3
DOIs
Publication statusPublished - Sep 2011
MoE publication typeA1 Journal article-refereed

Keywords

  • globalization
  • ICT
  • industrial policy
  • structural change
  • technology

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