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Published in:
2009 | OriginalPaper | Chapter
Growth of High-Tech Industries: Computers and Pharmaceuticals
Authors : Jati Sengupta, Phillip Fanchon
Published in: Efficiency, Market Dynamics and Industry Growth
Publisher: Palgrave Macmillan UK
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Economic growth of high-tech industries today such as computers, pharmaceuticals and telecommunications has been most rapid in the last two decades. This growth has been fueled mainly by technological advance, market growth with scale economies and other innovations like new product development and R&D investments. Efficiency and productivity gains in the leading firms have played a central role in this growth process and our object here is to analyze the dynamics of this efficiency change in two important industries, e.g., computers and pharmaceuticals.