IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/37138.html
   My bibliography  Save this paper

Knowledge-based economies and the institutional environment

Author

Listed:
  • Schilirò, Daniele

Abstract

Modern economies are increasingly based on knowledge and, more generally, on the intangible assets that favour the economic development. Knowledge-based economies are founded on increasing specialization, research, innovation and learning. The change towards a knowledge-based economy is happening on a global scale, a transformation is taking place in all advanced industrialised economies and many developing economies are also aspiring to reach this target. Knowledge-based economies require some critical requisites to become real and efficient economies. These are the four pillars: education and training, innovation, information infrastructure, the institutional regime. This contribution will focus mainly on one of those pillars: the institutional environment. Thus, after examining the definition and the characteristics of a knowledge-based economy, it focuses on the relationship between knowledge-based economies and the role of institutions. Institutions and the institutional environment play a key role in the development of a knowledge economy, so they do matter. The paper argues that various institutional changes must be introduced and these institutional changes that need to be made will involve the public and private sector, as it has been in the case of the Finland’s economy. In addition, because of the difficulties for the institutions to build and establish itself over time, it is necessary a certain degree of flexibility in the institutional regime and, hence, the ability to respond to uncertainties.

Suggested Citation

  • Schilirò, Daniele, 2010. "Knowledge-based economies and the institutional environment," MPRA Paper 37138, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:37138
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/37138/1/MPRA_paper_37138.pdf
    File Function: original version
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Daniele Schilirò, 2010. "Investing in Knowledge: Knowledge, Human Capital and Institutions for the Long Run Growth," Chapters,in: Governance of Innovation, chapter 3 Edward Elgar Publishing.
    2. Schilirò, Daniele, 2005. "Economia della conoscenza,istituzioni e sviluppo economico
      [Knowledge-based economy, institutions and economic development]
      ," MPRA Paper 31492, University Library of Munich, Germany.
    3. Paul A. David & Dominique Foray, "undated". "Economic Fundamentals of the Knowledge Society," Working Papers 02003, Stanford University, Department of Economics.
    4. David, Paul A., 1994. "Why are institutions the 'carriers of history'?: Path dependence and the evolution of conventions, organizations and institutions," Structural Change and Economic Dynamics, Elsevier, vol. 5(2), pages 205-220, December.
    5. Partha, Dasgupta & David, Paul A., 1994. "Toward a new economics of science," Research Policy, Elsevier, vol. 23(5), pages 487-521, September.
    6. Cowan, Robin & David, Paul A & Foray, Dominique, 2000. "The Explicit Economics of Knowledge Codification and Tacitness," Industrial and Corporate Change, Oxford University Press, vol. 9(2), pages 211-253, June.
    7. Carl J. Dahlman & Jorma Routti & Pekka Ylä-Anttila, 2006. "Finland as a Knowledge Economy : Elements of Success and Lessons Learned," World Bank Publications, The World Bank, number 7138, June.
    8. Dominique Foray, 2006. "The Economics of Knowledge," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262562235, January.
    9. Smith, Keith, 2002. "What is the 'Knowledge Economy'? Knowledge Intensity and Distributed Knowledge Bases," UNU-INTECH Discussion Paper Series 06, United Nations University - INTECH.
    10. Daniele Schilirò, 2007. "Knowledge, Learning, Networks and Performance of Firms in Knowledge-Based Economies," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn0702, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
    11. Schilirò, Daniele, 2003. "Dibattito sulla globalizzazione. Un commento
      [Debate on globalization. A comment]
      ," MPRA Paper 34943, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Schilirò, Daniele, 2015. "Mediterranean, migrations and economic development," MPRA Paper 83051, University Library of Munich, Germany.
    2. Schilirò, Daniele, 2011. "Le banche popolari cooperative
      [The popular co-operative banks]
      ," MPRA Paper 44213, University Library of Munich, Germany.
    3. Schilirò, Daniele, 2017. "A glance at Solow’s growth theory," MPRA Paper 84531, University Library of Munich, Germany.
    4. Cornelia DUMITRU, 2016. "A Changing Labour Market – Economic Recovery And Jobs," Romanian Economic Business Review, Romanian-American University, vol. 11(2), pages 133-144, June.

    More about this item

    Keywords

    knowledge-based economy; institutional environment; institutions; innovation; learning; development;

    JEL classification:

    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D20 - Microeconomics - - Production and Organizations - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:37138. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.