Networks in the Knowledge Economy Restructuring Value Chains

Abstract

Information and communications technologies (ICTs) are becoming increasingly ubiquitous, and firms, industries and countries are reaping increasing benefits from their ongoing investments in ICTs and the more widespread use of the Internet. These benefits are continuing despite questions about the existence of a “new”, knowledge-based economy, in light of the recent sharp price decline in technology stocks and the severe slump in the ICT equipment industry. The diffusion of ICTs throughout the economy has enhanced economic efficiency and the ICT-producing and ICT-using sectors have accounted for the bulk of overall productivity growth in a wide range of OECD countries (see OECD 2002a, 2001a and 200 lb).