|
on Information and Communication Technologies |
| By: | Bauer, Kevin; Langenbucher, Katja |
| Abstract: | Agentic artificial intelligence (AI) is increasingly used in corporate communication with investors, including drafting disclosures, answering queries, and summarizing financial information. While these systems can improve the accessibility and efficiency of public corporate communication, they also create risks for market integrity, such as inaccurate statements, unintended disclosure of sensitive information, and unequal access through personalized responses. This paper argues that existing disclosure and market-abuse frameworks remain substantively adequate but require clearer operational expectations for AI-driven communication. AI outputs delivered through issuer-controlled channels should be treated as corporate communications attributable to the issuer. A risk-based regulatory approach should therefore require governance oversight, separation of public and confidential data, safeguards against manipulation, auditable records of AI outputs, and human oversight for market-sensitive communications. Properly governed, agentic AI can enhance investor access to public information while preserving the principles of accurate, timely, and equal disclosure. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:safepl:341102 |
| By: | DiMaria, charles-henri |
| Abstract: | This document examines how three structural megatrends—the expansion of services, the diffusion of ICT, and deepening globalization - have reshaped the production structure and, by extension, the measurement of productivity in advanced economies. It argues that classical growth‑accounting approaches, rooted in Solow (1957), under‑state performance in knowledge‑based systems because they insufficiently capture the contribution of intangible assets. Using experimental macroeconomic estimates of intangibles from EUKLEMS–INTANProd applied to Luxembourg and a set of comparator economies (US and EU peers), the analysis shows that including intangibles raises the level of value added per hour and modestly alters growth rankings, with Luxembourg’s post‑2007 decline turning into a slight positive trend—yet still falling short of its pre‑2007 trajectory. While measurement constraints and data comparability issues remain, the results align more closely with a knowledge‑based economy narrative and provide a practical foundation for improving productivity metrics going forward. |
| Keywords: | intangible assets; productivity measurement; EUKLEMS–INTANProd; knowledge‑based economy. |
| JEL: | O4 O40 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129021 |
| By: | Hinh T. Dinh |
| Abstract: | Historically, manufacturing has served as the primary pathway to economic development, offering strong scale economies, learning-by-doing effects, and the capacity to generate the foreign exchange necessary to import capital goods and technology. However, advances in robotization and artificial intelligence (AI) are fundamentally undermining manufacturing’s traditional role, making it increasingly skill- and capital-intensive while limiting its ability to absorb labor. This technological transformation forces developing countries to consider service-led development strategies, but most services exhibit low productivity, limited tradability, and minimal capacity to generate foreign exchange. This paper is the first in a series to develop a methodology to identify and assess which specific services can serve as drivers for growth and structural transformation for the Global South. It proposes an analytical framework that classifies services into three categories: i) Knowledge Services (ICT and professional business services) which exhibit manufacturing-like characteristics such as tradability and foreign exchange generation capacity; ii) Enabling Services (transport, logistics, finance) which facilitate trade but generate limited independent value capture; and iii) Local Services (retail, hospitality, health, education, arts, and personal services) which absorb labor but cannot drive export-led growth. Critically, the paper addresses the education and health sectors separately, recognizing that, while they function as Local Services, they constitute essential foundational investments that enable the development of Knowledge Services. A companion paper applies this framework to assess the performance of the services sector of three North African countries: Egypt, Morocco, and Tunisia. To establish a benchmark against which developing countries can be assessed, we apply this framework empirically to EU15 economies over the period 2010–2022 using OECD Trade in Value Added (TiVA), Trade in Employment (TiM), and inter-country input-output tables, measuring performance across sectoral GDP and employment shares, productivity levels, external integration indicators, employment embodied in external demand, Hirschman-Rasmussen backward and forward linkages, and Leontief employment multipliers. The EU15 evidence shows that successful service-led development is not simply about expanding services in aggregate, but about shifting the internal composition of services toward Knowledge Services while maintaining efficient Enabling Services—precisely the pattern absent in countries that participate in GVCs without capturing significant value. |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rp02_26 |
| By: | Otaviano Canuto |
| Abstract: | The U.S.–China technological rivalry has become a central axis of global economic and geopolitical competition. While the United States continues to lead in frontier innovation—most notably in advanced semiconductors and artificial intelligence (AI)—China has consolidated strengths in large-scale implementation, manufacturing capacity, and control over critical segments of global supply chains. These advantages are especially visible in clean energy technologies and in the processing and refinement of critical minerals and rare earths. The rivalry now unfolds across multiple frontlines, extending beyond innovation itself to encompass infrastructure, energy availability, and technology deployment across the New South. Its outcome will depend less on breakthrough inventions alone than on each country’s capacity to integrate technology, industrial policy, and energy systems into cohesive national strategies. |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbtrad:pb07_26 |
| By: | Hinh T. Dinh |
| Abstract: | This paper is the second in a series examining services-led development and global value chain (GVC) integration in the Global South. It applies a three-category analytical framework covering knowledge services (ICT and professional business services), enabling services (transport, logistics, and finance), and local services (retail, hospitality, health, and personal services), to OECD Trade in Value Added indicators. The paper thus provides a structural assessment of Morocco's services sector over 2012–2022, benchmarked against the EU15. Morocco emerges as the most structurally advanced of the three North African economies examined in this series. Its computer programming and IT services sub-sector has achieved a degree of international market orientation that is the highest in the regional sample and broadly comparable to EU15 levels. This reflects the Casablanca nearshore ecosystem's deep integration with European client markets. Professional and technical services show the most dynamic trajectory in the regional dataset; forward integration into international markets rose steadily and substantially over the decade. The administrative and support services sector stands out for combining strong domestic supply chain embedding with growing international orientation simultaneously, a dual character that makes it the most structurally versatile knowledge services sub-sector in the study. Enabling services, anchored by the Tanger Med port complex, exhibit authentic GVC integration through deep assembly-and-re-export operations, with import content growing markedly over time. The paper further shows that Morocco's most competitive knowledge services sub-sectors—computer programming, professional services, and administrative services—have reached or exceeded EU15 levels of bilateral GVC embeddedness measured by both input sourcing and upstream positioning, making Morocco the only economy in the North African dataset that has crossed this threshold. The central conclusion is that Morocco's structural challenge is scale rather than quality. Morocco’s leading knowledge services sub-sectors are internationally competitive but collectively too small to generate the spillovers and employment effects that self-reinforcing convergence requires. The big-push logic of this series' Framework Paper applies directly: Morocco possesses the quality foundations of a knowledge economy but has not yet reached the critical mass at which knowledge services spillovers become self-sustaining. The evidence supports a structural policy agenda of deliberate scaling of IT and professional services, combined with containment of a rising public administration share, which risks crowding out productive investment. |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rp04_26 |