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Innovation and growth in a globalized world

YSI Pre-Conference to the 64ª Riunione Scient

Start time:

October 18, 2023 - October 21, 2023

EDT

Location:

Sapienza University of Rome, Rome

Type:

Workshop

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Description

One of the main features of globalization has been the increase in the international movement of factors. While the debate on the free international mobility of people remains open to discussion, there is no doubt that the international movement of capital and goods has dominated much of the international debate in recent decades (O ́Brien & Williams, 2020). In particular, the transnationalization of corporations has resulted in important increases in foreign investment, with annual flows rising from 192 billion dollars in 1991 to 1.631 trillion dollars in 2019, reaching a peak of 3.133 trillion in 2007 (World Bank, 2021). Initially concentrated in the global north, FDI have become increasingly relevant for developing countries in terms of both inflows and outflows, used as a route to development through the import of technology (Lall, 2003; Spencer, 2008). At the same time, processes of polarization and core-periphery dynamics related to the asymmetric distribution of knowledge and technological capabilities took place in advanced and developing economies alike. By the same token, international fragmentation of production and digitalization are reshaping economic hierarchies contributing to the rise in inequalities, both within and between countries.

An important part of the academic debate focused on knowledge and technology transfer as ways to promote catching up in developing countries. On the contrary, other scholars have addressed the relevance of the creation of local knowledge to promote sustainable growth. Likewise, a large body of literature investigated the role of GVCs and technological change in explaining growth patterns, convergence/divergence

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