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date: 06 April 2020

Abstract and Keywords

The exploitation of technological and market opportunities in the ICT industries has produced a series of changes in both supply and demand that serve to regulate or channel the rate and direction of industrial growth. The focus of this article is on the micro or building block level, where the programme of economic research has been directed by the goal of explaining the origins and consequences of rapid technological change and cost reduction. By focusing on this level, it is possible to illuminate some of the underlying processes influencing industrial structure and to suggest consequences for policy aimed at promotion of industrial growth and success. The central theme of this article is that the micro foundations or building blocks of supply and demand shape industrial structure and performance as well as influencing the opportunities and limits for government policy (including policies aimed both at promoting industrial growth and regulating economic concentration).

Keywords: ICT industries, market opportunities, technological changes, cost reduction, micro foundations, industrial structure

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