Deregulation, privatization and internationalization of the
telecommunications industry has brought about enormous changes within
both the European and world economy. The dynamics of the Internet and
the recent wave of innovations in the telecommunications and computer
industry have given rise to new opportunities for entrepreneurship,
employment and growth. No doubt, the dynamics and imperfections of
today`s information markets raise crucial challenges for Western
Europe. The changing patterns of innovation in the digital economy have
forced governments to consider new strategies to promote innovation,
network effects and growth. In response to these developments this text
presents new approaches to macroeconomic modelling, growth theory and
trade analysis. Still further, the deregulation policies of
OECD-countries are analyzed. An indispensible text for academics and
professionals who want to deepen their knowledge of how the New Economy
revolution continues to change the economy.