This paper evaluates structural change and adjustment in Hong Kong with Bayesian estimation of a small open economy with a fixed exchange rate show little or no change in the structural parameters or volatility estimates of the structural shocks before and after the Asian crisis and the...

This chapter argues that the global information technology (IT) industry has become increasingly modularized through the digitization of information and that this modularization manifests itself in the reorganization and relocation of the IT industry. This chapter has three main points. First,...