Going Global: The Challenges for Knowledge-based Economies

Abstract

The present volume aims to provide a comprehensive and systemic overview of the challenges that going global poses to knowledge based economies. Its focus is four-fold. 1) Firstly, it investigates why companies, especially high-tech firms, go global, i.e. which are the drivers that push companies to locate – R&D facilities in particular – elsewhere than in the home country. The analysis of the competitive advantages that enterprises seek in the host countries also includes the new techno-economic geography that emerges. Attention is devoted to the time frame of these phenomena and to features such as the development stage of the home and host country, the characteristics of both firms and industries, and the Product Life Cycle of the latter. 2) Secondly, it analyses the impact that the various corporate relocation phenomena might have on intellectual capital, innovative output and the labour market, and growth and development. (Re)locating in fact impacts on knowledge creation, exploitation – including the use of IPRs – , absorption, circulation and spillovers. In turn, these play a fundamental role in shaping the productivity, competitiveness, and ultimately growth and development of both enterprises and countries. 3) Thirdly, it addresses the questions of if and to what extent the current and prospective global dynamics call for new types of governance. Such a need arises if different policy domains have to converge towards common strategic welfare enhancing objectives. Attention is also devoted to the various policies put in place by small open economies that ‘go global’, such as Finland. 4) Fourthly, it addresses the sustainability aspects of going global by investigating how to better share the social, economical and ecological benefits and responsibilities arising from globalisation, technological change, and innovation. It analyses the impact that globalisation and the knowledge-based paradigm might have on both developed and developing countries