Abstract
This chapter describes economic insights from research having studied the ongoing information and communications technology (ICT)-based structural transformation of the business sector. It also describes initiatives by the EU in the field of digitalisation and their likely economic impact. The chapter concludes by arguing that the key for the EU to ensure that the ongoing ICT-based structural transformation creates overall prosperity is an improved entrepreneurial ecosystem, stimulating growth from new and successful firms. Institutions must be able to channel savings to start-ups and business development where well-functioning stock exchanges and venture capital markets are crucial. The educational system also needs to become more effective and flexible in order to offer future employees the skills demanded in the labour market. Finally, insurance systems should be more customised and flexible in order to make it easier for EU citizens to benefit from advancements in new technologies.
Original language | English |
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Title of host publication | The European Union and the Technology Shift |
Publisher | Springer International Publishing |
Pages | 135-159 |
Number of pages | 25 |
ISBN (Electronic) | 9783030636722 |
ISBN (Print) | 9783030636715 |
DOIs | |
Publication status | Published - 2021 |
Externally published | Yes |
Bibliographical note
Publisher Copyright:© The Author(s), under exclusive license to Springer Nature Switzerland AG 2021.
Subject classification (UKÄ)
- Economics
Free keywords
- Digitalisation
- Fourth industrial revolution
- ICT
- Productivity