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Defining Knowledge-Driven Economic Dynamism in the World Economy: A Methodological Perspective

In: Innovation, Growth and Competitiveness

Author

Listed:
  • Paschalis A. Arvanitidis

    (University of Thessaly)

  • George Petrakos

    (University of Thessaly)

Abstract

Although economic progress has always been knowledge-based, the scope and role of knowledge to economic processes has fundamentally changed over the last years. On these grounds scholars have argued that a new, knowledge-based economy has emerged, presenting significant opportunities for economic growth and development. This chapter builds upon the concept of the knowledge-based economy to define knowledge-driven economic dynamism and to provide a methodology for assessing it. In particular, it argues that conventional measures of economic performance are not capable of capturing the qualities of the knowledge economy and, on these grounds it introduces an appropriate measure of knowledge-driven economic dynamism, called the Economic Dynamism Indicator (EDI).

Suggested Citation

  • Paschalis A. Arvanitidis & George Petrakos, 2011. "Defining Knowledge-Driven Economic Dynamism in the World Economy: A Methodological Perspective," Advances in Spatial Science, in: Peter Nijkamp & Iulia Siedschlag (ed.), Innovation, Growth and Competitiveness, chapter 0, pages 15-39, Springer.
    • Handle: RePEc:spr:adspcp:978-3-642-14965-8_2
    DOI: 10.1007/978-3-642-14965-8_2
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    Cited by:

    1. Eustache Mêgnigbêto, 2018. "Correlation Between Transmission Power and Some Indicators Used to Measure the Knowledge-Based Economy: Case of Six OECD Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(4), pages 1168-1183, December.

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