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

Cătălina Florentina Albu, Ștefan Cătălin Popa and Cezar Petre Simion
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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

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2020, vol. 21, issue 2, 265-279

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.

Keywords: Europe; innovation; knowledge-based economy; R&D; technology. (search for similar items in EconPapers)
JEL-codes: D89 F63 O32 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:21:y:2020:i:2:p:265-279

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