Institutions for Pro-Growth Conduct in the Knowledge Economy

Institutions for Pro-Growth Conduct in the Knowledge Economy
Author: Jan B. M. Goossenaerts
Publisher:
Total Pages: 22
Release: 2010
Genre:
ISBN:

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The private sector is an important engine of growth and innovation. Yet, a private sector without an accordingly performing and developed public sector would it develop? In a thought experiment, let us imagine a market place where all land and water-surface is privately owned, and where the right of way for consumers and producers of goods and services must be negotiated with landowners. With all private individuals seeking maximal utility and minimal risk, decision problems and transaction costs would prohibit the emergence of an economic system beyond barter trade among neighbours producing goods within enclosed resource endowments. Under the conditions in the thought-experiment, mankind's discovery journey (Boorstin, 1983) would have been precluded, and so would have the agricultural, industrial and knowledge revolutions. History has taken a different course. Commons regimes have been gradually complemented with private property regimes, and subjects and those in power alike have been gradually disciplined by fit institutions. And indeed, those institutions have had a considerable impact on economic performance (North, 1990). Ill-designed institutions may lock-in an economy, and public sector enacted barriers are rightly feared by reformers. Yet, also private sector principals may derive rents from positions that act as barriers to others, as recognized by the Essential Facilities Doctrine. Looking at the knowledge economy and the technology and content uses that differentiate it from the industrial economy, it is not evident what exactly are the essential facilities that help or prevent principals exploiting the interdependencies among the division of labor, competence and market size. This essay questions the fitness of industrial-age institutions for the globalising and knowledge-intensifying economy. Particularly in the software and content sectors it identifies abuses of essential facilities and proposes enabling environment reforms to curb these abuses so as to spur learning and private sector development. For some institutional choice options, a pro-growth cause-effect chain is projected.

Foundations of the Knowledge Economy

Foundations of the Knowledge Economy
Author: Knut Ingar Westeren
Publisher: Edward Elgar Publishing
Total Pages: 297
Release: 2012-01-01
Genre: Business & Economics
ISBN: 0857937723

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This book presents new evidence concerning the influential role of context and institutions on the relations between knowledge, innovation, clusters and learning. From a truly international perspective, the expert contributors capture the most interesting and relevant aspects of knowledge economy. They explore an evolutionary explanation of how culture can play a significant role in learning and the development of skills. Presenting new data and theory developments, this insightful book reveals how changes in the dynamics of knowledge influence the circumstances under which innovation occurs. It also examines cluster development in the knowledge economy, from regional to virtual space. This volume will prove invaluable to academics and researchers who are interested in exploring new ideas surrounding the knowledge economy. Those employed in consultant firms and the public sector, where an understanding of the knowledge economy is important, will also find plenty of relevant information in this enriching compendium.

Creation and Transfer of Knowledge

Creation and Transfer of Knowledge
Author: Giorgio Barba Navaretti
Publisher: Springer Science & Business Media
Total Pages: 309
Release: 2013-03-09
Genre: Business & Economics
ISBN: 3662037386

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Is knowledge an economic good? Which are the characteristics of the institutions regulating the production and diffusion of knowledge? Cumulation of knowledge is a key determinant of economic growth, but only recently knowledge has moved to the core of economic analysis. Recent literature also gives profound insights into events like scientific progress, artistic and craft development which have been rarely addressed as socio-economic institutions, being the domain of sociologists and historians rather than economists. This volume adopts a multidisciplinary approach to bring knowledge in the focus of attention, as a key economic issue.

Regional Development in the Knowledge Economy

Regional Development in the Knowledge Economy
Author: Philip Cooke
Publisher: Routledge
Total Pages: 346
Release: 2006-09-27
Genre: Architecture
ISBN: 1134215282

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International contributors provide the first examination of the growing subject of regional knowledge-economy development. Illustrated by data and 'stylized' accounts, the international contributors chart the evolution of knowledge economies, questioning the way in which they work and criticize accepted theories and inform how places can cope in the knowledge economy. Based in concept on Cooke's Knowledge Economies (Routledge, 2002), Regional Development in the Knowledge Economy is a well-grounded work exploring this increasingly important theme with relevance to innovation systems and related economic development literature.

India and the Knowledge Economy

India and the Knowledge Economy
Author: Carl J. Dahlman
Publisher: World Bank Publications
Total Pages: 216
Release: 2005-01-01
Genre: Computers
ISBN: 0821362089

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"In the global knowledge economy of the twenty-first century, India's development policy challenges will require it to use knowledge more effectively to raise the productivity of agriculture, industry, and services and reduce poverty. India has made tremendous strides in its economic and social development in the past two decades. Its impressive growth in recent years-8.2 percent in 2003-can be attributed to the far-reaching reforms embarked on in 1991 and to opening the economy to global competition. In addition, India can count on a number of strengths as it strives to transform itself into a knowledge-based economy-availability of skilled human capital, a democratic system, widespread use of English, macroeconomic stability, a dynamic private sector, institutions of a free market economy; a local market that is one of the largest in the world; a well-developed financial sector; and a broad and diversified science and technology infrastructure, and global niches in IT. But India can do more-much more-to leverage its strengths and grasp today's opportunities. India and the Knowledge Economy assesses India's progress in becoming a knowledge economy and suggests actions to strengthen the economic and institutional regime, develop educated and skilled workers, create an efficient innovation system, and build a dynamic information infrastructure. It highlights that to get the greatest benefits from the knowledge revolution, India will need to press on with the economic reform agenda that it put into motion a decade ago and continue to implement the various policy and institutional changes needed to accelerate growth. In so doing, it will be able to improve its international competitivenessand join the ranks of countries that are making a successful transition to the knowledge economy."

Lifelong Learning in the Global Knowledge Economy

Lifelong Learning in the Global Knowledge Economy
Author:
Publisher: World Bank Publications
Total Pages: 172
Release: 2003
Genre: Education
ISBN: 9780821354759

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The growth of the global knowledge economy is transforming the demands of the labour market in economies worldwide. It will require workers to develop new skills and knowledge, whilst education systems will need to adapt to the challenges of lifelong learning, and these changes will be as crucial in transition and developing economies as it is in the developed world. This publication explores how lifelong learning systems can encourage growth, discusses the changing nature of learning and the expanding role of the private sector in education, and considers the policy and financing options available to governments to address the challenges of the global knowledge economy.

Science as a Gateway to Understanding

Science as a Gateway to Understanding
Author: National Research Council
Publisher: National Academies Press
Total Pages: 184
Release: 2008-11-20
Genre: Science
ISBN: 0309178029

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In October 2007, the U.S. National Academies and the Iranian Institute for Advanced Studies in Basic Science organized the first of a series of planned U.S.-Iranian workshops on the topic "Science as a Gateway to Understanding." This new workshop series is a component of the broader effort of the National Academies to support bilateral workshops and exchange visits in a variety of fields with a number of Iranian institutions that began in 2000. This book includes papers that were presented at the workshop and summaries of the discussions that followed some of the presentations. At the conclusion of the workshop there was general agreement that the presentations on many aspects of science and scientific cooperation that have a bearing on mutual understanding were an important first step. Several participants underscored that the next workshop should emphasize how scientific cooperation can lead in concrete terms to improved understanding among both academic and political leaders from the two countries.

The Role of Information Professionals in the Knowledge Economy

The Role of Information Professionals in the Knowledge Economy
Author: Javier Tarango
Publisher: Chandos Publishing
Total Pages: 150
Release: 2017-05-16
Genre: Education
ISBN: 0128112239

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The Role of Information Professionals in the Knowledge Economy: Skills, Experiences, Practices and Strategies presents the tools that are necessary for the acquisition and development of a scientific culture. The work and profile of the information professional is no longer limited to the world of libraries. In countries with developing and peripheral economies that are seeking to reduce dependence on knowledge generated by rich countries it is necessary to develop and foster new professional profiles with high expertise in knowledge generation and management in order to support such paradigm shifts. This comprehensive book presents the case for this paradigm shift and is an ideal resource for information professionals who are interested in new avenues of exploration. Promotes the idea that an information professional is the right person to offer support in the knowledge economy Provides guidance on how to provide and develop a scientific culture in an institution Identifies information competencies that are important for information managers in scientific communication Redefines the profile of professional information graduates and identifies this new skillset as a job opportunity

Growth, Risks, and Institutional Design in the Knowledge Economy

Growth, Risks, and Institutional Design in the Knowledge Economy
Author: Danxia Xie
Publisher:
Total Pages: 165
Release: 2017
Genre:
ISBN: 9780355078206

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Finally, I propose a Knowledge Theory of Regulation. Knowledge of innovation-induced risks is a public good. Therefore risk knowledge will be undersupplied if only through courts and private litigations. Compared to courts, regulators have their comparative advantage in acquiring and sharing new risk knowledge. Enlarging risk externality induced by growth and innovation accumulation will lead to faster expansion of regulation thanks to regulators' comparative advantage in risk knowledge acquisition.