Internet, Economic Growth and Globalization: Perspectives on the New Economy in Europe, Japan and the USA (Hardcover)

A. Telecommunications, Internet, Innovation and Growth in Europe.- 1. Telecommunications, Internet and Transatlantic Growth Differentials.- 1.1 Telecommunications and the Internet.- 1.2 Telecommunications and Technological Dynamics.- 1.3 Taking Stock: Transatlantic Growth Differential.- 2. Theoretical Analysis.- 2.1 ICT Dynamics and Growth.- 2.2 Perspectives on Inflation and Growth.- 3. Innovation, ICT Dynamics and Growth: Theoretical and Empirical Aspects.- 3.1 Basic Theoretical Issues.- 3.2 Empirical Links Between Innovations and Output.- 3.3 ICT as a General Purpose Technology?.- 4. The Role of Telecommunications and the Internet for Trade and Growth.- 4.1 Telecommunications, Innovation and Economic Growth in Germany 1960-1990.- 4.2 Growth and Employment Effects of an Internet Flat Rate in Germany.- 4.3 Telecommunications and Foreign Trade.- 5. Some Long-Term Aspects.- Appendix: Methodological Issues in Growth Statistics.- B. Is the IT Revolution Possible in Japan?.- 1. Introduction.- 2. The Present State of IT Utilization in Japan.- 3. The Government IT Policy.- 4. Social Factors Prevent the IT Revolution.- 5. The Traditional Companies Still Dominate the Economy.- 6. The Reform of the 1940 System.- Annex: Tables.- C. The Internet and Evolving Patterns of International Trade.- 1. Introduction.- 2. Brief Review of a Theoretical Framework for Empirical Tests.- 3. Specification of the Gravity Equation of Trade.- 4. Data.- 5. Discussion of the Results.- 6. Sensitivity Analysis and Alternative Explanations.- 7. Conclusions.- D. Internet Dynamics, Trade and Globalization (Some Comments on the paper by Caroline L. Freund and Diana Weinhold).- 1. General Comments.- 2. Comments on "Internet Increased Trade".- 3. Comments on "Internet Distance Trade".- E. Internet and Culture.- 1. The Convergence Thesis.- 2. Meta-Analysis of Consumption and Consumer Behaviour.- 3. Hofstede's Dimensions of National Culture.- 4. With Increased Wealth Cultural Values Become Manifest.- 5. Culture and Consumption.- 6. Convergence-Divergence: A Pattern.- 7. Communication Technology: Increasing Influence of Culture.- 8. The Communication Means of the New Economy.- 9. The Internet in Europe.- 10. Business Application.- 11. Conclusions.- F. E-Commerce: A Paradise for Bargain Hunters?.- G. E-Finance: Causing Major Upheavals in the Spatial Organization of the Financial Sector?.- 1. E-Finance: Technological Revolution, Paradigm Shift or Hype?.- 2. The Role of International Financial Centers.- 3. New Technological Developments and the Role of E-Finance.- 3.1 Online Banking.- 3.2 Investment Houses: Traditional, Online or Hybrid.- 3.3 Alternative Trading Systems and the Competition Between Floor Trading and Electronic Trading.- 3.4 Cooperation and Alliances of Stock Exchanges.- 3.5 Implications for International Financial Centers: Expectations and Perceptions.- 4. Financial Centers as Information and Interaction Centers.- 4.1 Delineating the Argument.- 4.2 Open Questions.- 5. Further Reasons for Agglomeration: Labor Markets and Institutions.- 5.1 Labor Markets.- 5.2 Institutions.- 6. Information Strategies and the Special Characteristics of Centers.- 7. Conclusion.- Appendix: Tables.- H. E-Finance: Causing Major Upheavals in the Spatial Organization of the Financial Sector? (Some Comments on Paper by Nicole Pohl).- 1. Introduction.- 2. What Does Theory Tell Us?.- 3. What Do Empirical Observations Tell Us?.- 4. How Does the Internet Affect Spatial Financial Activities?.- I. How Will the Internet Change the Japanese Financial Perspective?.- 1. Introduction.- 2. Current State of the Development of Electronic Financial Services in Japan.- 2.1 Securities Businesses on the Internet.- 2.2 E-Banking.- 2.3 Challenges to the Development of Electronic Financial Transactions.- 2.3.1 Internet Access.- 2.3.2 System Security.- 2.3.3 Growth Potential for Online Brokers.- 3. Impacts of Electronic Financial Transactions on Market Structure.- 3.1 Direct Effects: Transaction Costs