ENTERPRENEURIAL COMPETITION AND INDUSTRIAL LOCATION PENEDER M. Księgarnia

'Peneder's book is an interesting contribution to our understanding of the competitive process in a globalised economy. He comes up with empirical measures and industry rankings which take into account intangible investment and the influence of human resources. This helps to explain specialisation and the location of industries. Since the importance of competition policy as one of the few remaining instruments of national economic policy increases steadily, the results of the book are of great importance. Clearly written and highly self contained - explaining instruments and theoretical background of the study - the book is an indispensable reading for researchers and politicians alike.' Hanns Abele, University of Economics and Business Administration, Vienna, Austria

Entrepreneurial Competition and Industrial Location explores the notion of entrepreneurial competition from its theoretical foundations in early Austrian and contemporary evolutionary economics. Focusing on the structural development of the intangible factors of production such as labour skills, advertising and research and development, the book's empirical implications are tested in a comparative study of competitive performance in the EU, Japan and the USA. Typical mechanisms of external spillovers that shape industrial location by means of Marshallian cluster formation highlight the dimension of industrial location. Peneder finally employs the three evolutionary principles of variation, cumulation and selection to establish entrepreneurship, learning and fair markets as the main pillars of modem competitiveness policy. This volume paves the way for a better understanding of the market process, demonstrating the importance of intangible factors as sources of competitive advantage both by conclusive theoretical argument and careful empirical investigation.

Table of Contents

List of Figures List of Tables Preface

1. Entrepreneurial Competition

1.1 Introduction

1.2 Entrepreneurial Discovery

1.3 Evolutionary Change

1.4 Summary and Conclusions

Appendix: Non-Economic Sources of Evolutionary Thought

2. The Organization of Knowledge

2.1 Introduction

2.2 The Entrepreneurial Nature of the Firm

2.3 Diversity in Firm Behaviour

2.4 Market Co-ordination versus Finn Organization

2.5 Summary and Conclusions

3. Intangible Investment and Human Resources

3.1 Introduction

3.2 Why Intangibles Matter

3.3 Taxonomy I: Typical Factor Input Combinations

3.4 Taxonomy II: Labour Skills

3.5 On their Complementarity

3.6 Summary and Outlook

4. The Competitive Performance of European Industries

4.1 Introduction

4.2 Corporate Strategy

4.3 Economic Performance

4.4 The Patterns of European Specialisation

4.5 Summary and Conclusions Appendix

5. Sectoral Specialisation and Industrial Location

5.1 Introduction

5.2 The Marshallian Cluster Hypothesis

5.3 Cluster Formation by Pooled Labour Markets

5.4 Industrial Policy and Location

6. Competitiveness Policy

6.1 Introduction

6.2 An Example: Multimedia and Cultural Content

6.3 The Competitiveness Policy Prism Bibliography Index

Michael Peneder is at the Austrian Institute of Economic Research (WIFO), Vienna, Austria.

200 pages

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