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Author Rao, Balkrishna C.
Source ACM Digital Library
Content type Text
Publisher Association for Computing Machinery (ACM)
File Format HTM / HTML
Language English
Abstract Globalization has benefited the economies of member countries of the Organization for Economic Cooperation and Development (OECD) by helping their businesses stay profitable through cost-effective outsourcing of mostly garden-variety tasks and some knowledge-based activities. With time, the latter will account for the lion's share of work outsourced and emerging export houses will also tend to cater more to their own domestic markets because of their expanding infrastructure and growing manpower possessing advanced skills. This will result in a leveled playing field coaxing developed countries to adopt widespread innovations to maintain their high perch in the economic pecking order. Such large-scale creativity can be managed better if it could be gauged with an appropriate measure. This work propounds a new economic measure called the Gross Domestic Innovation (GDI) to quantify innovations in OECD countries. It will supplement universal measures such as the Gross Domestic Product (GDP), productivity and numbers concerning employment. Apart from the methodology for its estimation, the impact of GDI on the various facets of a vibrant economy is discussed and inter alia, the role of GDI in fighting inflation and alleviating the negative influences of globalization is stressed. Also, a tentative analysis on the economies of U.S., Japan, Germany and China is presented to illustrate the concept.
Description Affiliation: School of Industrial Engineering, Purdue University, West Lafayette, IN (Rao, Balkrishna C.)
Age Range 18 to 22 years ♦ above 22 year
Educational Use Research
Education Level UG and PG
Learning Resource Type Article
Publisher Date 2015-06-29
Publisher Place New York
Journal Ubiquity (UBIQ)
Volume Number 2007
Issue Number October
Page Count 13
Starting Page 1
Ending Page 13


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Source: ACM Digital Library