Digitalization in Open Economies Theory and Policy Implications
Digital strings are not visible, but affect all economic segments. This book studies the phenomenon of digitalization with the instruments of economics in order to explore the interdependencies between digitalization, economic policy, and macroeconomic va
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Michael Vogelsang
Digitalization in Open Economies Theory and Policy Implications
Michael Vogelsang University of Wuppertal European Institute for International Economic Relations (EIIW) Rainer-Gruenter-Straße ee 21 Campus Freudenberg 42119 Wuppertal Germany [email protected] [email protected]
Diese Arbeit wurde von der Bergischen Universität Wuppertal, Schumpeter School of Business and Economics, im Jahr 2009 als Dissertation angenommen
ISSN 1431-1933 ISBN 978-3-7908-2391-2 e-ISBN 978-3-7908-2392-9 DOI: 10.1007/978-3-7908-2392-9 Springer Heidelberg Dordrecht London New York Library of Congress Control Number: 2009941526 © Springer-Verlag Berlin Heidelberg 2010 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permissions for use must always be obtained from Springer. Violations are liable for prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: SPi Publisher Services Printed on acid-free paper Physica-Verlag is a brand of Springer-Verlag Berlin Heidelberg Springer-Verlag is part of Springer Science+Business Media (www.springer.com)
Thanks to lovely Eva, vivid Patrick, and keen-minded Christopher Philipp.
Preface
Economic cycles are deeply anchored in human consciousness: seasons determine the time to seed and to harvest, cycles of 14 years are described in the Bible. On the contrary is the linear perception of life: birth and death are the starting and end-points – at least of our body. But, when alternating news about births and deaths are received in a short interval of time, this induces the impression of a cycle again. During the time I worked on this dissertation I very gratefully cheered the births of my sons Patrick and Christopher Philipp Vogelsang, as well as of their cousin Frida. I will remember always my brother Manfred and my friends Andreas Str¨omel and Dr. Torsten Gager, who died too early, as well as my grandmother Friederike, who managed to reach nearly 98 years. When my grandmother was born digitalization as known today was unimaginable. Although the telegraph and telephone allowed worldwide communication, it was inconceivable that a photo, music or a document could be transfered overseas within a second. But today these are reality. Technological evolutions such as digitalization have also changed our economic perception of time from the circu
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