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The knowledge economy: Key to sustainable development?

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  • Rezny, Lukas
  • White, James Buchanan
  • Maresova, Petra

Abstract

A perfect storm of resource depletion and environmental degradation looms as the world’s biggest economies are plagued by low or even negative growth rates. The knowledge economy is often presented as a way of a radical societal transformation to achieve both higher and sustainable economic growth, and as a way out of the predicament of increasing resource scarcity and climate disruption. This paper explores the relationship between the knowledge economy index and consecutive economic growth rates along with various indicators of resource consumption to determine the relative success of this supposedly unique mode of economic development. Our findings show the failure of advanced knowledge economies to grow in the post-2008 period. We have not found any evidence of higher resource efficiency of advanced knowledge economies when their resource consumption is assessed using the material footprint. Through comparison of coal and oil consumption with changes in knowledge economy rankings from 1995 to 2012, we found no regular pattern of diminishing reliance on these increasingly scarce and expensive natural resources by successfully developing knowledge economies.

Suggested Citation

  • Rezny, Lukas & White, James Buchanan & Maresova, Petra, 2019. "The knowledge economy: Key to sustainable development?," Structural Change and Economic Dynamics, Elsevier, vol. 51(C), pages 291-300.
    • Handle: RePEc:eee:streco:v:51:y:2019:i:c:p:291-300
    DOI: 10.1016/j.strueco.2019.02.003
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    2. Elena Širá & Roman Vavrek & Ivana Kravčáková Vozárová & Rastislav Kotulič, 2020. "Knowledge Economy Indicators and Their Impact on the Sustainable Competitiveness of the EU Countries," Sustainability, MDPI, vol. 12(10), pages 1-22, May.
    3. Junshuai Cheng & Qaisar Iqbal & Guangmeng Ji & Weichun Li, 2022. "A Sustainable and Comprehensive Framework for Knowledge Transfer in MNCs: An Empirical Examination Based on Country, Company and Individual Levels of Chinese MNCs," Sustainability, MDPI, vol. 14(21), pages 1-17, October.
    4. Naeimah Fahad S. Almawishir & Houcine Benlaria, 2023. "Using the PLS-SEM Model to Measure the Impact of the Knowledge Economy on Sustainable Development in the Al-Jouf Region of Saudi Arabia," Sustainability, MDPI, vol. 15(8), pages 1-23, April.
    5. Jiwu Wang & Chengyu Tong & Xuewei Hu, 2021. "Policy Zoning Method for Innovation Districts to Sustainably Develop the Knowledge-Economy: A Case Study in Hangzhou, China," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    6. Saleh S. Barakat & Hisham M. AlSmadi & Khalifeh M. Abu-Ashour, 2022. "Evaluating the Jordanian Experience in the Transition to a Knowledge Economy," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1076-1087, June.
    7. Justyna Światowiec-Szczepańska & Beata Stępień, 2022. "Drivers of Digitalization in the Energy Sector—The Managerial Perspective from the Catching Up Economy," Energies, MDPI, vol. 15(4), pages 1-25, February.

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