By Paul J.J. Welfens, Mathias Weske
This e-book analyzes the dynamics and affects of software program improvement and discusses new institutional and financial alterations within the context of electronic industry economies. Regulatory techniques in OECD nations are in comparison and kingdom reviews evaluated with recognize to innovation and welfare elements. The booklet additionally examines telecommunications law of fastened line networks, cable television and cellular communications. additionally discusses the position of european framework rules and problems with marketplace energy.
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Extra resources for Digital Economic Dynamics: Innovations, Networks and Regulations
Fig. 6. Regulatory scorecard To some extent, foreign direct investment should contribute to a narrowing of the scores across countries. There is certainly some regulatory arbitrage across EU Digital Social Market Economy - Towards a New Economic System 43 countries, at the same time one cannot overlook that large EU countries - representing relatively important markets - still enjoy considerable policy autonomy. Whether a stricter EU regulatory framework would be useful is doubtful since it is unclear whether or not the EU will pursue a rational policy approach which would enhance static and dynamic efficiency.
One the fascinating features of the internet is that it allows more services to be traded as providers of the respective service or the user effectively becomes more mobile in a geographical sense. This should stimulate competition and hence efficiency gains and innovations. Leading digital OECD countries can thus be expected to have a high share of product iimovations in services. Product iimovations allow for the increase in product prices in world markets and hence the earning of high incomes (wages and profit).
Hence there is a market for lemons problem in part of digital markets. While it is well known that in markets with experience goods or confidence goods building reputation on the side of sellers and certain signaling mechanisms can minimize market failure, the real digital world is not always characterized by efficient sfrategies of firms. International telecommunications firms and internet service providers also face the problem that they encounter rather different regulatory approaches in the various OECD countries.