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The transition to the knowledge economy in advanced capitalist democracies: a new index for comparative research

Author

Listed:
  • Diessner, Sebastian
  • Durazzi, Niccolo
  • Filetti, Federico
  • Hope, David
  • Kleider, Hanna
  • Tonelli, Simone

Abstract

This article sets out to develop a new index capturing advanced capitalist democracies’ transition to the knowledge economy. Reviewing how the notion has evolved in the literature, the article proposes a definition of the knowledge economy based upon two key elements—technology and (high) skills. These are operationalized in six indicators and combined through Bayesian latent variable analysis to produce a new Knowledge Economy Index, covering twenty-two countries from 1995 to 2019. A descriptive exploration of the index provides important insights for the emerging body of work on the knowledge economy in comparative political economy. The index is the first to provide a comprehensive measure of the knowledge economy that accounts for both technology and skills across space and time. As such, it paves the way for future research examining the causes and consequences of the transition to the knowledge economy in advanced capitalist democracies.

Suggested Citation

  • Diessner, Sebastian & Durazzi, Niccolo & Filetti, Federico & Hope, David & Kleider, Hanna & Tonelli, Simone, 2025. "The transition to the knowledge economy in advanced capitalist democracies: a new index for comparative research," LSE Research Online Documents on Economics 127758, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:127758
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    File URL: http://eprints.lse.ac.uk/127758/
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    More about this item

    Keywords

    knowledge-based economy; labour markets; skills; technological change;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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