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Microeconomic Policies in the New Economy

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  • Rune Stenbacka

Abstract

The core industries of the new information economy are characterized by imperfect competition, asymmetric information or external effects. Thus, well-designed microeconomic policies, in the form of competition policies, technology policies or combinations of these, have strong potential of generating welfare improvements and promoting social efficiency. This paper emphasizes innovation-intensive competition, strong technological scale economies, network effects and complementarity between system components as characteristic features of the core industries in the information economy.

Suggested Citation

  • Rune Stenbacka, 2001. "Microeconomic Policies in the New Economy," WIDER Working Paper Series DP2001-73, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:dp2001-73
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    File URL: https://www.wider.unu.edu/sites/default/files/dp2001-73.pdf
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    Cited by:

    1. Matthew Clarke, 2006. "Are the development policy implications of the new economy, new? All that is old is new again," Journal of International Development, John Wiley & Sons, Ltd., vol. 18(5), pages 639-648.

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