Università Carlo Cattaneo Resources
Like land before the industrial revolution, in the present global economy much knowledge is being enclosed in private hands. In this paper we argue that these enclosures have become a major factor in specialization among firms and among countries: both are forced to specialize in the fields that are not restricted by the enclosures of the others. We use data on 26 OECD countries over the 1978-2006 period.
Abstract: The article attempts to define the relevant yardsticks that can be used to delineate the end of the transition process or, alternatively, a second stage in the post-socialist economic transformation into market capitalism. A first benchmark is EU accession, but it does not apply to non accession transitional economies. Moreover, a delay is going to appear between accession and the full benefit of common policies – a second transition period will open in May 2004. Convergence criteria are likely to postpone the end of transition for decades, if not for ever.