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Is Europe Becoming the Most Dynamic Knowledge Economy in the World?

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  • DANIELE ARCHIBUGI
  • ALBERTO COCO

Abstract

The article discusses the condition and perspective of the European Union in the knowledge economy and the feasibility of the goal given by the European Council at the summits held in Lisbon (March 2000) and Barcelona (March 2002), that is, to increase European R&D expenditure to 3 per cent of GDP by 2010. The article focuses on two aspects: comparative performance with its direct counterparts, in particular the USA; and intra‐European distribution of resources and capabilities. A set of technological indicators is presented to show that Europe is still consistently behind when compared to Japan and the US, especially in R&D investment and the generation of innovations. A small convergence occurs in the diffusion of information and communication technologies (ICTs), the sector most directly linked to the concept of the‘new economy'. In the field of knowledge collaboration, Europe takes opposing paths in the business and academic worlds. Within Europe, the level of investment in scientific and technological activities is so diverse across countries that it does not merge into a single continental innovation system.

Suggested Citation

  • Daniele Archibugi & Alberto Coco, 2005. "Is Europe Becoming the Most Dynamic Knowledge Economy in the World?," Journal of Common Market Studies, Wiley Blackwell, vol. 43(3), pages 433-459, September.
    • Handle: RePEc:bla:jcmkts:v:43:y:2005:i:3:p:433-459
    DOI: 10.1111/j.0021-9886.2005.00564.x
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    References listed on IDEAS

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    5. Jan Fagerberg, 1999. "The Economic Challenge for Europe: Adapting to Innovation-Based Growth," Working Papers 2, Centre for Technology, Innovation and Culture, University of Oslo.
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    Cited by:

    1. Wang, Eric C., 2010. "Determinants of R&D investment: The Extreme-Bounds-Analysis approach applied to 26 OECD countries," Research Policy, Elsevier, vol. 39(1), pages 103-116, February.
    2. Arjen van Witteloostuijn & Marcus Dejardin & Julie Hermans & Dendi Ramdani, & Johanna Vanderstraeten & Jacqueline Brassey & Hendrik Slabbinck, 2015. "Fitting entrepreneurial, firm-level and environmental contingencies for better performance," Post-Print halshs-01379907, HAL.
    3. Tomasz Kijek & Arkadiusz Kijek & Piotr Bolibok & Anna Matras-Bolibok, 2021. "The Patterns of Energy Innovation Convergence across European Countries," Energies, MDPI, vol. 14(10), pages 1-17, May.
    4. Jadranka Švarc & Marina Dabić, 2017. "Evolution of the Knowledge Economy: a Historical Perspective with an Application to the Case of Europe," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(1), pages 159-176, March.
    5. Herciu Mihaela & Ogrean Claudia, 2011. "Interrelations Between Economic Freedom, Knowledge Economy And Global Competitiveness – Comparative Analysis Romania And Eu Average," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 6(2), pages 46-59, August.
    6. Quintás, Mari­a A. & Vázquez, Xosé H. & Garci­a, José M. & Caballero, Gloria, 2008. "Geographical amplitude in the international generation of technology: Present situation and business determinants," Research Policy, Elsevier, vol. 37(8), pages 1371-1381, September.
    7. Grafström, Jonas & Poudineh, Rahmat, 2023. "Invention and Diffusion in the Solar Power Sector," Ratio Working Papers 364, The Ratio Institute.
    8. Teemu Makkonen & Timo Mitze, 2016. "Scientific collaboration between ‘old’ and ‘new’ member states: Did joining the European Union make a difference?," Scientometrics, Springer;Akadémiai Kiadó, vol. 106(3), pages 1193-1215, March.
    9. Werner Hölzl, 2006. "Cohesion and Excellence. Two ways to a better Europe?," WIFO Studies, WIFO, number 28810, April.
    10. Giammario Impullitti, 2006. "International Competition, Growth and Optimal R&D Subsidies," 2006 Meeting Papers 739, Society for Economic Dynamics.
    11. Wang, Chun-Chieh & Sung, Hui-Yun & Chen, Dar-Zen & Huang, Mu-Hsuan, 2017. "Strong ties and weak ties of the knowledge spillover network in the semiconductor industry," Technological Forecasting and Social Change, Elsevier, vol. 118(C), pages 114-127.
    12. Pieri, Fabio & Vecchi, Michela & Venturini, Francesco, 2018. "Modelling the joint impact of R&D and ICT on productivity: A frontier analysis approach," Research Policy, Elsevier, vol. 47(9), pages 1842-1852.
    13. Hugo Confraria & Vitor Hugo Ferreira & Manuel Mira Godinho, 2021. "Emerging 21st Century technologies: Is Europe still falling behind?," Working Papers REM 2021/0188, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    14. José Luis Gãmez-Barroso & Claudio Feijão & Edvins Karnitis, 2008. "The European Policy for the Development of an Information Society: the Right Path?," Journal of Common Market Studies, Wiley Blackwell, vol. 46, pages 787-825, September.
    15. Andrea Filippetti & Antonio Peyrache, 2013. "Is the Convergence Party Over? Labour Productivity and the Technology Gap in Europe," Journal of Common Market Studies, Wiley Blackwell, vol. 51(6), pages 1006-1022, November.
    16. Luigi Aldieri & Jonas Grafström & Concetto Paolo Vinci, 2021. "The Effect of Marshallian and Jacobian Knowledge Spillovers on Jobs in the Solar, Wind and Energy Efficiency Sector," Energies, MDPI, vol. 14(14), pages 1-16, July.
    17. Daniele Archibugi & Andrea Filippetti & Marion Frenz, 2018. "Investment in innovation for European recovery: a public policy priority," Management Working Papers 16, Birkbeck Department of Management, revised Feb 2021.
    18. Marijk van der Wende, 2009. "European Responses to Global Competitiveness in Higher Education," University of California at Berkeley, Center for Studies in Higher Education qt718832p2, Center for Studies in Higher Education, UC Berkeley.
    19. Cătălina Florentina ALBU & Ștefan Cătălin POPA & Cezar Petre SIMION, 2020. "The Knowledge-Based Economy: Evolution of Research and Stage of Development in Europe and Romania," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 21(2), pages 265-279, May.
    20. Nguyet Thi Minh Nguyen & Chau Minh Duong, 2019. "What Make the Impact of the Financial Crisis on Innovation Different Across European Countries?," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(06), pages 1-29, October.
    21. Randolph Luca Bruno & Elodie Douarin & Julia Korosteleva & Slavo Radosevic, 2022. "The Two Disjointed Faces of R&D and the Productivity Gap in Europe," Journal of Common Market Studies, Wiley Blackwell, vol. 60(3), pages 580-603, May.
    22. Grafström, Jonas & Jaunky, Vishal, 2017. "Convergence of Incentive Capabilities within the European Union," Ratio Working Papers 301, The Ratio Institute.
    23. Alka obadić & Sanja Porić, 2008. "The coordination between education and employment policies," EFZG Working Papers Series 0802, Faculty of Economics and Business, University of Zagreb.

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