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Knowledge, Economic Growth And The Role Of Policy On The Role Of "Public-Private Partnerships" In The New "Knowledge-Driven" Economy


  • Stephanie Blankenburg


The paper examines the economic rationale for "public-private partnerships" to promote technological progress and growth in the new "knowledge-driven" economy. Three main arguments are advanced: First, the present policy agenda is caught up in a mismatch between micro-economic science and technology policies, on the one hand, and macroeconomic growth policies, on the other. While the former rely on an essentially evolutionary understanding of innovative processes which emphasise the need for decentralised public-private co-operation, the latter largely reflect the insights of the New Endogenous Growth Theory (NGT) which, however, advocates a standard market failure approach to economic policy, and innovation policies in particular. Second, the NGT is itself to blame for much of this confusion in that it is unclear with regard to its conceptualisation of knowledge as a factor of production and as a (public-private) good. Third, for "public-private partnerships" to work the underlying policy direction (privatisation or gradual socialisation) needs to be further specified. This, in turn, requires a clarification of whether knowledge is to be understood primarily as a disembodied factor of production or as embodied in the process of capital accumulation.

Suggested Citation

  • Stephanie Blankenburg, 2000. "Knowledge, Economic Growth And The Role Of Policy On The Role Of "Public-Private Partnerships" In The New "Knowledge-Driven" Economy," Working Papers wp185, Centre for Business Research, University of Cambridge.
  • Handle: RePEc:cbr:cbrwps:wp185
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    References listed on IDEAS

    1. Nooteboom, Bart, 1999. "Innovation, Learning and Industrial Organisation," Cambridge Journal of Economics, Oxford University Press, vol. 23(2), pages 127-150, March.
    2. Wilkinson, Frank, 1983. "Productive Systems," Cambridge Journal of Economics, Oxford University Press, vol. 7(3-4), pages 413-429, September.
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    Cited by:

    1. Cherevykov, Ievgen, 2013. "Institutional environment for public-private partnership in Ukraine:Do institutions really matter?," MPRA Paper 62110, University Library of Munich, Germany.

    More about this item


    Knowledge-based technological progress; new endogenous growth theory; government policies;

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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