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Defining Knowledge-Driven Economic Dynamism in the World Economy: A Methodological Perspective

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Innovation, Growth and Competitiveness

Part of the book series: Advances in Spatial Science ((ADVSPATIAL))

Abstract

Although economic progress has always been knowledge-based, the scope and role of knowledge to economic processes has fundamentally changed over the last years. On these grounds scholars have argued that a new, knowledge-based economy has emerged, presenting significant opportunities for economic growth and development. This chapter builds upon the concept of the knowledge-based economy to define knowledge-driven economic dynamism and to provide a methodology for assessing it. In particular, it argues that conventional measures of economic performance are not capable of capturing the qualities of the knowledge economy and, on these grounds it introduces an appropriate measure of knowledge-driven economic dynamism, called the Economic Dynamism Indicator (EDI).

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Notes

  1. 1.

    For surveys on this literature see Booysen (2002), Freudenberg (2003), Gadrey and Jany-Catrice (2003), Share (2004) and Saisana et al. (2005).

  2. 2.

    Simply put, GDP is the total value of all products and services bought and sold. It consists of consumption expenditures made by households, domestic investment, government purchases, and net exports.

  3. 3.

    Details of each method can be found in Booysen (2002), Freudenberg (2003), Saisana et al. (2005) and Nardo et al. (2005).

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Author information

Authors and Affiliations

  1. Department of Economics, University of Thessaly, 43 Korai Street, Volos, 38333, Greece

    Paschalis A. Arvanitidis

  2. Department of Planning and Regional Development, University of Thessaly, Pedion Areos, Volos, 38334, Greece

    George Petrakos

Authors
  1. Paschalis A. Arvanitidis
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  2. George Petrakos
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Editor information

Editors and Affiliations

  1. VU University Amsterdam, De Boelelaan 1105, Amsterdam, 1081 HV, Netherlands

    Peter Nijkamp

  2. (ESRI), Economic and Social Research Institute, Whitaker Square, Sir John Rogerson's Quay, Dublin, 2, Ireland

    Iulia Siedschlag

Appendix

Appendix

Ranking of countries by economic growth and EDIs A3 and A6

Rank by g

g

Rank by EDI-A3

EDI-A3

Rank by EDI-A6

EDI-A6

Equatorial Guinea

1.48

China

0.28

Ireland

0.28

Bosnia

0.37

Luxembourg

0.24

China

0.28

China

0.24

Ireland

0.23

Korea Rep

0.27

Lebanon

0.17

Korea Rep

0.23

Lebanon

0.23

Ireland

0.16

Singapore

0.18

Slovenia

0.19

Cambodia

0.16

Japan

0.16

Australia

0.19

Bermuda

0.15

Denmark

0.16

Norway

0.19

Viet Nam

0.15

Viet Nam

0.15

United States

0.18

Puerto Rico

0.14

Slovenia

0.15

Estonia

0.18

Luxembourg

0.14

United States

0.15

Malaysia

0.17

Samoa (American)

0.14

Israel

0.15

Finland

0.17

Korea Rep

0.14

Chile

0.15

New Zealand

0.17

Lesotho

0.14

Norway

0.15

Sweden

0.17

Azerbaijan

0.14

Sweden

0.15

Poland

0.17

Chile

0.13

Finland

0.14

Chile

0.17

Singapore

0.13

Azerbaijan

0.14

United Kingdom

0.17

Barbados

0.13

Australia

0.14

Netherlands

0.17

Laos

0.12

Iceland

0.14

Hong Kong

0.17

India

0.12

Germany

0.14

Czech Republic

0.17

Malaysia

0.12

Malaysia

0.14

Canada

0.17

Sri Lanka

0.12

Lesotho

0.14

Kuwait

0.16

Chad

0.12

Austria

0.14

Austria

0.16

Mozambique

0.12

United Kingdom

0.14

Viet Nam

0.16

Kuwait

0.12

India

0.13

Cambodia

0.16

Saint Kitts and Nevis

0.12

Maurutius

0.13

Greece

0.16

Maurutius

0.12

Poland

0.13

Denmark

0.16

Bostwana

0.12

New Zealand

0.13

Belgium

0.16

Trinidad and Tobago

0.12

Malta

0.13

Spain

0.15

Belize

0.12

Netherlands

0.13

Thailand

0.15

Thailand

0.12

Canada

0.13

Germany

0.15

Sudan

0.12

France

0.13

Azerbaijan

0.15

Slovenia

0.12

Trinidad and Tobago

0.13

Israel

0.15

Poland

0.11

Mozambique

0.13

France

0.15

Dominican Republic

0.11

Hong Kong

0.13

Italy

0.15

Tunisia

0.11

Belgium

0.13

Maurutius

0.15

Malta

0.11

Sri Lanka

0.13

Japan

0.14

Uganda

0.11

Czech Republic

0.13

Dominican Republic

0.14

Cape Verde

0.11

Thailand

0.13

Argentina

0.14

Estonia

0.11

Estonia

0.13

Portugal

0.14

Iran

0.11

Spain

0.12

Hungary

0.14

Eritrea

0.11

Tunisia

0.12

Trinidad and Tobago

0.14

Panama

0.11

Cyprus

0.12

Lesotho

0.14

French Polynesia

0.10

Greece

0.12

Tunisia

0.14

Indonesia

0.10

Iran

0.12

Latvia

0.13

Albania

0.10

Hungary

0.12

India

0.13

Cyprus

0.10

Panama

0.11

Bostwana

0.13

Denmark

0.10

Italy

0.11

Laos

0.13

Bangladesh

0.10

Portugal

0.11

Iran

0.13

Hong Kong

0.10

Argentina

0.11

Slovakia

0.12

Greece

0.10

Switzerland

0.11

Papua New Ginea

0.12

Czech Republic

0.10

Bangladesh

0.11

Mozambique

0.12

Macao (China)

0.10

Costa Rica

0.11

Belarus

0.12

Yemen

0.10

Indonesia

0.11

Switzerland

0.12

Norway

0.10

Turkey

0.10

Indonesia

0.12

Tonga

0.10

Slovakia

0.10

Lithuania

0.12

Papua New Ginea

0.10

Nepal

0.10

Albania

0.12

Australia

0.10

Peru

0.10

Uruguay

0.11

New Zealand

0.10

Egypt

0.10

Egypt

0.11

Peru

0.10

Belarus

0.10

Turkey

0.11

Costa Rica

0.10

Pakistan

0.10

Oman

0.11

Argentina

0.10

Croatia

0.10

Costa Rica

0.11

Spain

0.10

Brazil

0.10

Uganda

0.11

Fiji

0.10

Latvia

0.09

Kazakhstan

0.11

Egypt

0.10

Uruguay

0.09

Romania

0.11

Hungary

0.10

Romania

0.09

El Salvador

0.11

Grenada

0.10

Mexico

0.09

Nepal

0.11

Mali

0.10

Kazakhstan

0.09

Eritrea

0.11

Nepal

0.09

Morocco

0.09

Bangladesh

0.11

Ghana

0.09

Antigua and Barbuda

0.09

Bolivia

0.11

Oman

0.09

Armenia

0.09

Mexico

0.10

Pakistan

0.09

Bolivia

0.09

Yemen

0.10

Syria

0.09

South Africa

0.09

Jordan

0.10

Turkey

0.09

Lithuania

0.09

Bulgaria

0.10

Bahrain

0.09

Nicaragua

0.09

Croatia

0.10

New Caledonia

0.09

Colombia

0.08

Uzbekistan

0.10

El Salvador

0.09

Bulgaria

0.08

United Arab Emirates

0.10

United Kingdom

0.09

Philippines

0.08

Brazil

0.10

Mauritania

0.09

Mongolia

0.08

Armenia

0.10

Uzbekistan

0.09

Ecuador

0.08

Saudi Arabia

0.10

Austria

0.09

Russia

0.08

Namibia

0.10

United States

0.09

Honduras

0.08

Pakistan

0.10

St. Vincent and Grenadines

0.09

Jamaica

0.08

Ghana

0.10

Portugal

0.09

Venezuela

0.07

Philippines

0.10

Netherlands

0.09

Paraguay

0.07

Mali

0.10

Djibouti

0.09

FYROM

0.07

Nigeria

0.10

Namibia

0.09

Zambia

0.07

Mauritania

0.09

Canada

0.09

Madagascar

0.06

Colombia

0.09

Belgium

0.09

Ukraine

0.06

Nicaragua

0.09

Germany

0.09

Kyrgyzstan

0.05

Mongolia

0.09

Iceland

0.09

Georgia

0.04

Guatemala

0.09

Finland

0.09

Moldova

0.03

Algeria

0.09

Israel

0.09

  

Jamaica

0.09

Slovakia

0.09

  

Morocco

0.09

France

0.09

  

Russia

0.09

Sweden

0.09

  

Swaziland

0.09

Burkina Faso

0.09

  

Venezuela

0.09

Uruguay

0.09

  

South Africa

0.09

Belarus

0.09

  

Burkina Faso

0.09

Kazakhstan

0.09

  

Honduras

0.08

Seychelles

0.09

  

Malawi

0.08

Nigeria

0.09

  

Senegal

0.08

Romania

0.09

  

Paraguay

0.08

Bolivia

0.08

  

Guinea

0.08

Guyana French

0.08

  

Ethiopia

0.08

Latvia

0.08

  

Cameroon

0.08

Italy

0.08

  

FYROM

0.08

Armenia

0.08

  

Congo. Republic of

0.08

Guatemala

0.08

  

Rwanda

0.07

Mexico

0.08

  

Gambia

0.07

Morocco

0.08

  

Ukraine

0.07

Nicaragua

0.08

  

Angola

0.07

Benin

0.08

  

Kyrgyzstan

0.06

Vanuatu

0.08

  

Niger

0.06

Malawi

0.08

  

Madagascar

0.06

Dominica

0.08

  

Sierra Leone

0.06

Tanzania

0.08

  

Zimbabwe

0.05

Antigua and Barbuda

0.08

  

Burundi

0.05

Brazil

0.08

  

Georgia

0.05

Jordan

0.08

  

Tajikistan

0.04

Japan

0.08

  

Moldova

0.04

Algeria

0.08

    

Bahamas

0.08

    

Colombia

0.08

    

Croatia

0.08

    

Philippines

0.08

    

Senegal

0.08

    

Saudi Arabia

0.08

    

Saint Lucia

0.08

    

Ethiopia

0.08

    

Guinea

0.08

    

Swaziland

0.08

    

Ecuador

0.08

    

Bulgaria

0.08

    

Honduras

0.08

    

Lithuania

0.08

    

Mongolia

0.08

    

South Africa

0.07

    

Cameroon

0.07

    

Jamaica

0.07

    

Rwanda

0.07

    

Switzerland

0.07

    

Gabon

0.07

    

Gambia

0.07

    

Venezuela

0.07

    

Turkmenistan

0.07

    

Congo, Republic of

0.07

    

Paraguay

0.07

    

Zambia

0.07

    

United Arab Emirates

0.07

    

Kenya

0.07

    

Comoros

0.07

    

Angola

0.06

    

Togo

0.06

    

Russia

0.06

    

FYROM

0.06

    

Niger

0.06

    

Central African Republic

0.06

    

Madagascar

0.06

    

Cote d Ivoire

0.06

    

Sierra Leone

0.06

    

Solomon

0.05

    

Guinea-Bissau

0.05

    

Kyrgyzstan

0.05

    

Burundi

0.05

    

Zimbabwe

0.05

    

Ukraine

0.05

    

Haiti

0.05

    

Georgia

0.04

    

Tajikistan

0.03

    

Moldova

0.03

    

Congo Dem Rep

0.03

    

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Arvanitidis, P.A., Petrakos, G. (2011). Defining Knowledge-Driven Economic Dynamism in the World Economy: A Methodological Perspective. In: Nijkamp, P., Siedschlag, I. (eds) Innovation, Growth and Competitiveness. Advances in Spatial Science. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-14965-8_2

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