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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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    4. Freeman, Chris & Louca, Francisco, 2002. "As Time Goes By: From the Industrial Revolutions to the Information Revolution," OUP Catalogue, Oxford University Press, number 9780199251056, Decembrie.
    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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