Knowledge-Based Economy – Driving Forces and Indicators

Authors

Keywords
knowledge-based economy; innovations; indicators

Summary
The idea for replacement of capital by knowledge as the main source of progress provides ground for the idea of “knowledge-based economy”. This is an economic system in which knowledge appears to be a dominating resource in the same way as – in a former period of development – capital outweighed the land as a source of economic power during the shift from pre-industrial to industrial society. The paper outlines several groups of indicators that typically identify the degree of development of the knowledge-based economy: employment structure (relative shares of employed by economic sectors and sub-sectors, along with the change in these shares), education level (access to relevant professional and higher education; relative share of expenditures for education -general and vocational- in GDP), R&D (researchers by scientific areas; investments in R&D as % of GDP; structure of R&D funding, particularly the share of private funding), etc.

JEL: D83, O32
Pages: 18
DOI: 

More titles

  • Assessing Competitiveness of Staff in the Trade Enterprise

    The present study is aimed at clarifying the nature of competitiveness of staff and its relationship with the results of the work of employees. Based on the analysis of the literary sources, a systematization of views on competitiveness of staff is presented, the factors of influence and as well as the qualitative characteristics of human ...

  • Free Will, Determinism, Libertarianism and Austrian Economics

    This paper makes the claim that the free will position is correct, that of determinism incorrect, and that libertarianism and Austrian economics are compatible with the former but not the latter....

  • Analysis of the Elements of Organisational Culture of “Multiprofile Hospital for Active Treatment – Veliki Preslav”

    The article is presenting a survey on the organisational culture elements in “Veliki Preslav” MHAT. The information is gathered from employees of the healthcare institution through questionnaires. The prevalent opinion is of strong organisational culture which creates and develops generally accepted behaviour values and norms. The organisation has ...