European–American Trade and Financial Alliances

European–American Trade and Financial Alliances

New Horizons in International Business series

Edited by Gavin Boyd, Alan M. Rugman and Pier Carlo Padoan

In this, his final book, Gavin Boyd has brought together a distinguished group of experts on the nature and extent of transatlantic policy coordination and its implication for corporate strategy. This remarkably relevant set of papers offers a discussion on the economic and financial linkage between Europe and North America, as well as the trade and investment rules governing this interaction.

Chapter 2: Atlantic interdependent knowledge-based economies

Simona Iammarino and Daniele Archibugi

Subjects: business and management, international business


Simona Iammarino and Daniele Archibugi* International collaborations are a significant and increasingly important channel of diffusion of knowledge in both the public and the business sectors. Their importance has grown, as testified by the number of partnerships among public research centres, universities and firms (National Science Foundation, 2002). Collaboration for knowledge creation and diffusion has received a widespread consensus from analysts. It has been stressed that collaboration allows increasing the number of agents able to benefit from knowledge, and that it provides expanding learning opportunities. It permits the partners to share each other’s expertise, by enriching overall know-how (Hagedoorn et al., 2000). Collaborations can be seen as a positive sum game and the partners acquire more advantages than disadvantages, although the net gains are not always equally distributed among them (see Gambardella and Malerba, 1999, esp. p II). However different propensities towards knowledge collaboration characterize different economies. Such propensities are in fact highly dependent on cultural specificities, societal norms, industrial structures and a broad range of institutions that influence economic performance (Lundan, 2003). A crucial factor in determining the propensity to knowledge collaboration is the link between firms’ behaviour and institutional settings, which varies typically between ‘coordinated’ economies, such as many European countries and Japan, and ‘liberal market’ economies, such as the USA, but also the UK. It has been pointed out that, while in the former cooperation tends to be based on consensus, occurring traditionally through industry associations, and is disciplined by standardized contractual...

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