This study analyses the role played by adjustment costs and R&D investment prices in total R&D productivity. The results show that on average, for each monetary unit increase in adjustment costs produces a fall in productivity of 0.034 monetary units.

The Information and Communication technology(ICT) environment in the economic community of west african states(ECOWAS) has changed sufficiently to warrant re-conceptualization of the earlier initiatives. Notably, many new technologies have emerged, especially in the area of wireless...

The Fed closely monitors the stock market and the stock market continuously forms expectations about the Fed decisions. What does this imply for the relation between the fed funds rate and the S&P500? We find that the answer depends on the conditions prevailing on the financial market. During...

In sectors using information and communications technology (ICT) as platform for innovation, the meaning of the term 'work' is undergoing fundamental change. New technologies are helping to accommodate employees' individual preferences regarding working hours and location. In this respect,...

The market for information and communication technologies is changing rapidly. Products and applications that used to be completely separate are becoming almost interchangeable. Sweeping change lies ahead in voice and data telephony: the fixed-line telephone network faces new competition from...

One important determinant of the speed and success of transition will be the efficiency of transformation and development of the infrastructure sectors. A great deal of attention has been paid to issues such as privatisation, restructuring, user prices, and terms of access in these sectors,...

The current problems in mobile telephony are leading critics to make overly pessimistic predictions that 3G – the third-generation mobile phone system – will never become profitable. However, the resulting calls not to introduce 3G and instead directly back alternative wireless technologies...

The interest rate and the rate of economic growth are often regarded as roughly constant as economies grow. Moreover, the agricultural sector and rural population typically shrink. We show that an otherwise standard growth model that includes a backward and an advanced sector can account for...

This chapter examines the process of development from an epoch of Malthusian stagnation to a state of sustained economic growth. The analysis focuses on recently advanced unified growth theories that capture the intricate evolution of income per capita, technology, and population over the course...

It became clear early on that UMTS, also known as 3G (third-generation mobile phone systems), would be a key technology for profitable markets of the future. However UMTS technology offers some major advantages that can be demonstrated under laboratory conditions but which it will not be...