Measuring the Knowledge Economy: A National and Organizational Perspective
Abstract
This article aims to analyze how the knowledge economy is measured and how different are the tools developed for this purpose. Since the research focuses on the “how” issues, a qualitative approach is employed. The analysis concentrates on three of the most frequently used tools for measuring a country’s progress towards consolidating itself as a knowledge economy, namely: Knowledge Assessment Methodology, developed by World Bank, Lisbon Scorecard, elaborated by World Economic Forum, and Innovation Union Scoreboard, created by the European Union. Nevertheless, Kensho New Economies Composite Index – the newest instrument developed by Kensho Technologies – is brought forward. The results prove that the three most frequently used tools for measuring countries’ progress towards consolidating themselves as knowledge economies have the same information capability while the newest tool emphasizes what is usually labelled as “intellectual capital”, although it uses the phrase “Knowledge Economy”. On the one hand, these results shed light on policy-makers’ psychological need of measuring the intangible assets, and transforming the intangible into tangible. On the other hand, they highlight the need for redefining the concept of “knowledge economy” and establishing its pillars.References
Arunprasad, P. (2016). Guiding metaphors for knowledge-intensive firms: Strategic HRM practices and knowledge strategies. International Journal of Organizational Analysis, 24(4), 743-772.
Bratianu, C. (2009). The Frontier of Linearity in the Intellectual Capital Metaphor. Electronic Journal of Knowledge Management, 7(4), 415-424,
Bueno, E. (2011). Modelo Intellectus: Medicion y gestion del capital intelectual. Documentos Intellectus, 9/10(1), 1-79.
Chen, D.H.C., and Dahlman, C.J. (2006). The Knowledge Economy, the KAM Methodology and World Bank Operations. Washington, DC: World Bank.
Collet, C., Hine, D., and du Plessis, K. (2015). Employability skills: perspectives from a knowledge-intensive industry. Education + Training, 57(5), 532-559.
Cricelli, L., Greco, M., and Grimaldi, M. (2014). An overall index of intellectual capital. Management Research Review, 37(10), 880-901.
Dang, D., and Umemoto, K. (2009). Modelling the development toward the knowledge economy: a national capability approach. Journal of Knowledge Management, 13(5), 359-372.
De Silva, T.-A., Stratford, M., and Clark, M. (2014). Intellectual capital reporting: a longitudinal study of New Zealand companies. Journal of Intellectual Capital, 15(1), 157-172.
Donlagic, S., Fazlic, S., and Nuhanovic, A. (2015). Introducing a Framework for Knowledge Economy Development in Transition Countries: The Case of Bosnia and Herzegovina. Ekonomski Vjesnik, 28(1), 257-266.
Drucker, P.F. (1993). Postcapitalist Society. New York: Harper Collins.
European Union (2011). Innovation Union Scoreboard (IUS) 2010. The Innovation Union's performance scoreboard for Research and Innovation. Brussels: PRO INNO Europe.
European Union (2016). The European Innovation Scoreboard. Brussels: PRO INNO Europe.
Habibi, M.R., Davidson, A., and Laroche, M. (2017). What managers should know about the sharing economy. Business Horizons, 60(1), 113-121.
Howell, D.C. (2002). Statistical Methods for Psychology. Pacific Grove, CA: Duxbury.
Hughes, A., and Kitson, M. (2012). Pathways to impact and the strategic role of universities: new evidence on the breadth and depth of university knowledge exchange in the UK and the factors constraining its development. Cambridge Journal of Economics, 36(3), 723-750.
Käpylä, J., Kujansivu, P., and Lönnqvist, A. (2012). National intellectual capital performance: a strategic approach. Journal of Intellectual Capital, 13(3), 343-362.
Kehelwalatenna, S. (2016). Intellectual capital performance during financial crises. Measuring Business Excellence, 20(3), 55-78.
Kensho Technologies (2017). Kensho New Economies Composite℠ Index. Retrieved on April 19, 2017 from http://kenshoindices.com/index/KNEX.
Kowalska, I. (2016). Sources of Financing Knowledge-Based Economy: the Case of Formal, Non-Formal and Informal Education in Poland. Oeconomia Copernicana, 7(1), 75-90.
Labra, R., and Sánchez, M.P. (2013). National intellectual capital assessment models: a literature review. Journal of Intellectual Capital, 14(4), 582-607.
Landis, J.R., and Koch, G.G. (1977). The measurement of observer agreement for categorical data. Biometrics, 33, 159-174.
Legendre, P. (2005). Species associations: The Kendall coefficient of concordance revisited. Journal of Agricultural, Biological, & Environmental Statistics, 10, 226-245.
Leon, R.D. (2016). Intellectual capital – source of competitiveness. International Journal of Learning and Intellectual Capital, 13(2/3), 149-166.
Leon, R.D., and Nica, P. (2011). Europe 2020 strategy – Forecasting the level of achieving its goals by the EU member states. Management & Marketing. Challenges for the Knowledge Society, 6(1), 3-18.
Lerro, A., and Schiuma, G. (2013). Intellectual capital assessment practices: overview and managerial implications. Journal of Intellectual Capital, 14(3), 352-359.
Levi-Jaksic, M., Radovanovic, N., and Radojicic, Z. (2013). Absorptive capacity constituents in knowledge-intensive industries in Serbia. Zbornik Radova Ekonomski Fakultet u Rijeka, 31(2), 253-278.
Lilleoere, A.N., and Hansen, E.H. (2011). Knowledge-sharing enablers and barriers in pharmaceutical research and development. Journal of Knowledge Management, 15(1), 53-70.
Lombardi, P., and Schwabe, F. (2017). Sharing economy as a new business model for energy storage systems. Applied Energy, 188, 485-496.
Macerinskiene, I., Macerinskas, J., and Aleknaviciute, R. (2016). Change of National Intellectual Capital in EU Countries. Montenegrin Journal of Economics, 12(4), 65-75.
Machlup, F. (1962). The Production and Distribution of Knowledge in the United States. Princeton, NJ: Princeton University Press.
Malouche, M.M., Plaza, S., and Salsac, F. (2016). Mobilizing the Middle East and North Africa Diaspora for Economic Integration and Entrepreneurship. Washington, DC: World Bank.
May, C. (2002). The Information Society: A Sceptical View. Cambridge: Polity.
McBride, G.B. (2005). Using Statistical Methods for Water Quality Management: Issues, Problems and Solutions. New York: Wiley.
Nonaka, I., and Takeuchi, H. (1995). The Knowledge Creation Company: How Japanese Companies Create the Dynamics of Innovation. Oxford: Oxford University Press.
Pulic, A. (2000). Vaictm – an accounting tool for IC management. International Journal of Technology Management, 20(5-8), 702-714.
Rouis, M., and Tabor, S.R. (2013). Regional Economic Integration in the Middle East and North Africa: Beyond Trade Reform. Directions in development: trade. Washington, DC: World Bank.
Rubalcaba, L., Gago, D., Ariano, M., and Tripathi, A. (2016). Services and Innovation for the Competitiveness of the Ecuadorian Economy. Policy Research Working Paper No.7767. Washington, DC: World Bank.
Shiryaev, D.V., Artemova, E.I., Zelinskaya, M.V., Novoselov, S.N., Galiullina, S.D., and Pismennaya, E.E. (2016). “Knowledge Economy” as a Resource for the Intensification of Socio-Economic Transformation of the Regional Economic Space. International Review of Management and Marketing, 6(S1), 232-237.
Smith, K. (2002). What is the knowledge economy? Knowledge-intensive industries and distributed knowledge bases. UNU/INTECH Discussion Papers. Retrieved on April 20, 2017 from http://www.intech.unu.edu/publications/discussion-papers/2002-6.pdf.
Stewart, T.A. (1997). Intellectual Capital: The New Wealth of Organizations. New York: Doubleday Dell Publishing Group.
Suh, J., and Chen, D.H.C. (2007). Korea as a Knowledge Economy: Evolutionary Process and Lessons Learned. Washington, DC: World Bank.
Sveiby, K.E., and Riebling, A. (1986). The Know-How Company [Kunskabsföretaget]. Malmo: Liber.
Tan, J.-P., Lee, K.H., Flynn, R., Roseth, V.V., and Nam, Y.-J.J. (2016). Workforce Development in Emerging Economies: Comparative Perspectives on Institutions, Praxis, and Policies. Directions in Development - Human Development. Washington, DC: World Bank.
Tilford, S., and Whyte, P. (2011). The Lisbon Scorecard X: The road to 2020. London: Centre for European Reform.
Utz, A., and Aubert, J.-E. (2013). Transforming Arab Economies: The Knowledge and Innovation Road. Washington, DC: World Bank.
World Bank (2012). Knowledge Economy Index (World Bank), 2012. Retrieved on April 19, 2017 from https://knoema.com/WBKEI2013/knowledge-economy-index-world-bank-2012.
World Economic Forum (2010). The Lisbon Review 2010. Towards a More Competitive Europe? Geneva: World Economic Forum.
Zanini, M.T., and Musante, M. (2013). Trust in the knowledge economy. Journal of Business & Industrial Marketing, 28(6), 487-493.
Downloads
Published
How to Cite
Issue
Section
License
Under the Creative Commons Attribution-NonCommercial-NoDerivs license, the users are free to share (copy, distribute and transmit the contribution) with the condition to attribute the contribution in the manner specified by the author or licensor. They may not alter, transform, or build upon this work.