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on Knowledge Management and Knowledge Economy |
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Issue of 2010‒01‒23
five papers chosen by Laura Stefanescu European Research Centre of Managerial Studies in Business Administration |
| By: | Bormotov, Michael |
| Abstract: | The core problem in focus of this paper is studying how modern economy can keep sustained growth in terms of increasing reliance on both knowledge and human capitals and dependence on continuously depleting non-renewable natural resources. The aim of this paper is to bridge in some way the gap between macroeconomic growth models and models of technological evolution. The ultimate goal of this work is to determine the optimal rate of savings and the optimal, i.e. delivering maximum cumulative consumption during given period , total investment allocation among physical capital, human capital, natural capital and knowledge capital, all subject of endogenous growth, for the modern knowledge based economy where savings are the unique source of investments. The neo-classical CES production function extended to four factors including physical capital K, human capital L, raw materials (natural capital) R and knowledge capital A in three different forms: for perfect substitution, for the case of no substitution and for the case of unit elasticity of substitution, is accepted as the basic growth model. There are four most important features which distinguish our all-factors endogenous growth model from basic endogenous growth model: 1.The total national capital stock which reflects the growth potential of economy is considered consisting of four parts: physical capital, human capital, natural capital and knowledge capital. Therefore our model embeds all four factors of production (physical capital, human capital, natural capital and knowledge capital) as opposed to three factors (physical capital, labour and knowledge) included in Romer model. 2. The labour, represented by Human capital, is not assumed equal to population and is measured in money units (total earnings of qualified labour which is considered equal to total household income). Investments in Education system transform Population in Human capital. Therefore in our model labour supply grows proportionally investments in human capital, whine the path of population growth is given exogenously according to exponential or logistics curves. 3. Marginal rate of consumption and consequently marginal rate of savings are assumed constant during exploring period; they are not given as initial conditions but are subject of optimisation inside the model. 4. Growth of every of four employed factors is considered depending on investments in corresponding sector of economy only. It is assumed that investments, measured in money units, absorb and exhaustively represent all underlying resources (physical capital, labour, raw materials). A three steps algorithm for finding the optimum solution is created. The first step defines in general an optimum structure of investment allocation among K, L and R. The second step defines optimum investment allocation between A from one hand and all other factors from the other hand. The third step applies defined optimum value on optimum structure. |
| Keywords: | knowledge based economy; economic cycles; endogenous growth; investment; optimization; knowledge capital; human capital; natural resources. |
| JEL: | E32 O30 E21 |
| Date: | 2010–01–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19932&r=knm |
| By: | Aurora A.C. Teixeira (CEF.UP, Faculdade de Economia, Universidade do Porto; INESC Porto); José Miguel Silva (MIETE, Faculdade de Engenharia, Universidade do Porto) |
| Abstract: | A literature survey covers the state-of-the-art of a certain investigation field and is a critical evaluation that can help define new research and facilitate the understanding of the area by new researchers of that scientific field. Although there are already some excellent attempts to provide a survey in the Economics and Management of Innovation area, these are in general qualitative. Using bibliometric tools, which help to explore, organize and analyze large amounts of information, we characterize, in a quantitative way, the published literature in innovation area. Based on the 1047 abstracts of the articles published between 1974 and 2007 in the innovation area’s ‘seed journal’ we observed that the themes that have grown the most in recent years were “Open innovation, Copyrights, Intellectual Property Rights, Open Software”, “University-Industry Relations and Transfer of Technology and Knowledge”, and “Entrepreneurship, Incubation, Spin-offs and Entrepreneurial Universities”. In contrast, themes such as “Learning and Experimentation, Troubleshooting”, “Development of new Products, Processes, Markets, Organizational”, “Cooperation in R&D+I”, “Multinational/International trade in the process of innovation”, and “Management Policy of Science and Technology “, noted a marked decline. |
| Keywords: | Survey; Innovation; Bibliometrics |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:por:fepwps:355&r=knm |
| By: | Wan-Hsin LIU |
| Abstract: | This paper investigates whether knowledge transferred from different sources matter differently for carrying out different innovation outcomes, using a firm-level dataset collected in the Pearl River Delta (PRD) in China. It also investigates whether companies in the PRD in China tend to innovate in a similar way as companies in the Asian Newly Industrialised Economies (NIEs) did decades ago. Our estimation results suggest that companies in the PRD, as companies in the Asian NIEs, strongly rely on sourcing from their OEM customers but not on own R&D activities to implement innovative processes to increase production efficiency. In contrast, they engage in own R&D activities in order to develop innovative products, to realise higher innovation sales and to create new knowledge qualified for patenting. In addition to own R&D activities, they rely on sourcing knowledge from different sets of sources to support them to carry out the last three types of innovation outcomes |
| Keywords: | innovation, knowledge transfer, knowledge production function, flying geese model, China |
| JEL: | O1 O3 R1 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:kie:kieliw:1578&r=knm |
| By: | Liang, Zhao |
| Abstract: | Based on evidences from empirical disciplines, the paper offers three different basic assumptions and one simplified framework on individual behavior when dealing with signals from uncertain environments. On the basis of these, the paper defines individual knowledge and shows its hierarchical state, the connatural- and the acquired-shared-knowledge among individuals. Furthermore, the paper describes and explains the sources and general mechanisms of changing of these kinds of knowledge, and stresses that human connatural knowledge is the most stable level in the entire knowledge, which constitutes the fundamental prerequisite for mutually recognizing signals (or events) and interactions among individuals; The acquired-shared-knowledge, however, is the common anticipation owned among individuals about behavioral response of other individuals facing a signal; it derives from interacting experiences between individuals and circumstances or among individuals; and stable accumulation of the knowledge is one of key foundations on which the stable anticipation of individual behavior, commonly behavioral beliefs and rules will can be formed in a group. |
| Keywords: | individual assumptions; simplified behavior-framework; individual knowledge; knowledge hierarchy; shared knowledge; common behavior rules; empirical evidences |
| JEL: | B52 A12 D01 |
| Date: | 2009–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20050&r=knm |
| By: | Uppenberg, Kristian (European Investment Bank, Economic and Financial Studies) |
| Abstract: | The literature on economic growth has identified knowledge expansion as a key propellant. Early research derived this conclusion from the residual that remained after the growth contributions from capital and labour had been accounted for. Later modifications expanded the concept of fixed capital to include intangible capital. The underlying drivers of innovation have, meanwhile, been explored by the endogenous growth literature. Together, these efforts have reconfirmed the role of knowledge and innovation in growth. But they also point to the importance of competition and firm entry and exit as key motivators for firms to innovate. Policies aiming to boost growth must therefore look beyond the amounts invested in R&D and also provide for wellfunctioning labour, product and financial markets. |
| Keywords: | Research and development; innovation; neoclassical growth model; endogenous growth |
| JEL: | O30 O40 |
| Date: | 2009–12–23 |
| URL: | http://d.repec.org/n?u=RePEc:ris:eibpap:2009_001&r=knm |