KTH/CESIS Working Paper Series in Economics and Institutions of Innovation
Towards a Dynamic Theory for the Spatial Knowledge Economy
() and Börje Johansson
Abstract: In recent decades the world has witnessed the emergence of
a global knowledge economy. For example, the evolution in recent decades of
the developed economies has been accompanied by a regional shift in
economic activity away from traditional industrial regions to new
agglomerations of high technology, creating an explosion of entrepreneurial
activity and new firm formation. For the OECD countries in particular, we
can observe a transfer from an industrial economy to a knowledge economy.
The supporting evidences are overwhelming and indicate that the trend is
global. The emerging knowledge economy have attracted much interest among
economist and generated many important contributions during the last two
decades. However, the literature does not provide a comprehensive picture
and we are indeed lacking a “general theory” of the knowledge economy.
Various aspects of the emerging knowledge economy has been thoroughly
analysed both theoretically and empirically but the overall synthesis is
not yet present. Something to ask for would be a coherent theoretical
framework that can explain how growth-induced investments in knowledge
production stimulate localised, entrepreneur-driven innovations, which
generate structural change and economic growth in an integrated system of
functional regions. An interesting observation is that many of the
necessary building blocks already seem to exist but that they are still
waiting for someone to integrate them. The current state-of-the-art also
includes inconsistent components. The purpose of this paper is to
contribute to such an integration of the existing pieces of knowledge.
Keywords: Knowledge; Economic Growth; New Economic Geography; Innovation Systems; Entrepreneurship; (follow links to similar papers)
JEL-Codes: M13; O31; O40; R11; (follow links to similar papers)
31 pages, December 2, 2004
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