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The Knowledge-Based Economy: Evolution of Research and Stage of Development in Europe and Romania

Author

Listed:
  • Cătălina Florentina ALBU

    (The Bucharest University of Economic Studies)

  • Ștefan Cătălin POPA

    (The Bucharest University of Economic Studies)

  • Cezar Petre SIMION

    (The Bucharest University of Economic Studies)

Abstract

The knowledge-based economy represents a consequence of technological and informational progress. The performances of the economies have lately depended on the way in which knowledge is capitalizing, and also on the innovation degree and the efficiency of information flows. The present paper aims to identify the importance, characteristics and main elements of the knowledge-based economy, but also the evolution of scientific research conducted in the field of knowledge-based economy in the last 15 years. At the same time, the study aims to identify the development stage of the knowledge-based economy in Europe, and also following the particular case of Romania. The study also presents the connections of the knowledge-based economy with the RDI system and the transfer of new technologies. The knowledge-based economy has proven to be a relatively new concept, and the resources and implications of this new economy have not yet been exhausted. Regarding the development stage of the knowledge-based economy in different European countries, the differences are significant, some countries being far from capitalizing on knowledge, because they do not invest enough in development, research and innovation process.

Suggested Citation

  • 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.
    • Handle: RePEc:rom:rmcimn:v:21:y:2020:i:2:p:265-279
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    References listed on IDEAS

    as
    1. 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.
    2. Cader, Hanas A., 2008. "The Evolution of the Knowledge Economy," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 38(2), pages 1-13.
    3. Sebastian Ion CEPTUREANU & Eduard Gabriel CEPTUREANU & Alina TUDORACHE & Filip ZGUBEA, 2012. "Knowledge Based Economy Assessment in Romania," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(1), pages 70-87, June.
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    More about this item

    Keywords

    Europe; innovation; knowledge-based economy; R&D; technology.;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other

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