Knowledge, Research, Development and Innovations

Mihály Simai
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Mihály Simai: Department of World Economics, BUESPA, H-1093 Budapest, Fővám tér 8, Hungary

Society and Economy, 2003, vol. 25, issue 3, 305-319

Abstract: An OECD document has defined knowledge-based economies as new systems directly based on the production, distribution and application of knowledge and information. However, the role of knowledge has always been important. Since the earliest analysis of modern economic growth, knowledge and technology have been recognised as factors of key importance. The notion that information and knowledge are of central importance both in the process of production, as well as an essential part or the final commodity produced, is uncontroversial and it always has had some weight. Knowledge was needed to make a spear, as well as to make a microchip. What have changed, apparently, are the quantity, the quality, and the density of knowledge and information, the speed in which they circulate and change, the proportion of them which is embodied in the final product.

Keywords: knowledge-based economy; research and development; government policies (search for similar items in EconPapers)
Date: 2003
Note: This paper is based on the contribution of the author to an international research programme in the framework of the European Union, under the title “Knowledge, Growth and Globalisation – Science and Technology Policy as a Growth Factor in Smaller Economies”.
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