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Assessing the Knowledge Economy:
GDP, Productivity and Employment
Growth in EU Developed Regions
-- Alessandro Sterlacchini and Francesco Venturini
This paper examines the impact of knowledge endowments on the economic growth of European regions by considering
the channels through which they (labor productivity or
employment) increase income levels (Per Capita GDP). A wide array
of knowledge base indicators are considered here for explaining the growth performance of 150 developed
NUTS 2 regions over the period 1995-2002. Their effect is estimated by controlling the occurrence of
catching-up (or convergence), the regional
structural features, and the presence of spatial correlation. The results show that
Per Capita GDP (PCGDP) growth is positively
affected by both the R&D intensity and the share of adults with tertiary education. However, while R&D is particularly effective
in explaining the growth of labor productivity, the occupation ratio is significantly influenced by educational attainments. The
policy message arising from these findings seems quite straightforward for the regions experiencing a virtuous pattern of
economic growth, based on increases in both productivity and employment. For those characterized by a trade-off between the
latter variables, the policy approach appears to be more problematic. The paper shows that such a trade-off is particularly evident
for the developed regions of the Southern European countries.
© 2009 IUP. All Rights Reserved.
Funding Research and Educating People
in a Growth Model with Increasing Population
-- André Grimaud and Frederic Tournemaine
This paper formalizes an interdependence between a Research and Development (R&D) sector that produces knowledge and
a human capital sector that educates individuals such that both activities appear equally essential to sustain per capita
long-term growth. It treats the question of research funding in a model without any intermediate goods production sector, and assumes
that knowledge is directly protected by patents so that any user must reward innovators directly. To keep the analysis simple,
an equilibrium in which there is perfect competition on private goods markets is constructed. Knowledge is rewarded at its
marginal profitability.
© 2009 IUP. All Rights Reserved.
Intellectual Capital:
A Strategic Management Perspective
-- V Kavida and Sivakoumar N
Strategic management is associated with leveraging the strengths of an enterprise and to cash on the opportunities by overcoming
the weaknesses and threats. Realization of the competencies of an enterprise would enable it to establish a competitive edge over its
rivals. Since intellectual capital refers to the combined intangible capital which enables the company to function, it is critical for
strategic management in knowledge-based industries. In the knowledge-based economy, numerous corporate organizations have
utilized intellectual capital as their competitive advantage to create corporate value. The key issue in leveraging intellectual capital,
as strategic tool for the business success, lies in the measurement of intellectual capital. As the adage goes, "what can be measured
can be managed and what can be managed can be measured." Therefore, measurement of intellectual capital is a precondition for
the `strategic management' of intellectual capital. In this paper, an attempt is made to measure the value of intellectual capital
in monetary terms, using the well-established indirect methods. The strength of these methods lies in their ability to utilize
publicly available information about the firms. The primary objective of the study is to suggest the availability and reliability of the
financial methods for the measurement of intellectual capital of the publicly traded companies, by analyzing the case of the Indian
pharmaceutical companies.
© 2009 IUP. All Rights Reserved.
The Use of Control Systems in New Product Development Innovation:
Advancing the `Help or Hinder' Debate
-- Chris Akroyd, Sharlene Narayan and V G Sridharan
New Product Development (NPD) innovation is a critical activity in the current economic environment. In order to manage
their NPD innovation projects, firms use Management Controls Systems (MCS). However, the effect that these systems have on
NPD innovation is not clear. One stream of research suggests that MCS help NPD innovation while another stream suggests
MCS hinder NPD innovation. Past research has shown that the role and style of MCS used may offer explanations on why MCS can
both help and hinder NPD innovation. This paper adds another explanation by examining the relationship between three
models (divisional, activity/decision and conversion/response) of a commonly used MCS, known as the Stage-Gate
Process in the NPD innovation literature, and three types of NPD innovation projects (incremental, semi-radical and radical). The insights from
an ethnomethodology informed field study are used to understand how and why the firms may use a different MCS
(Stage-Gate Process models) for different NPD innovation project types.
© 2009 IUP. All Rights Reserved.
A Vision for a Knowledge Society and Learning Nation: The Role of a National Library System
-- Ravi S Sharma, Sean Lim and Chia Yew Boon
This paper reflects on the evolution of a knowledge societya key ingredient of economic competitiveness. More specifically,
it reviews the relevant literature on the subject in order to perform a grounded theory case analysis on the policies of the
National Library System (NLS) in Singapore. The research methodology comprises three stagesformulating a model for
communal knowledge sharing, an environmental scan of news and policy releases about the national library, and in-depth interviews
with senior library professionals about the impact of national libraries. The findings of the field study indicate that most information
and knowledge professionals depend on an effective NLS to promote learning and knowledge sharing by cultivating social and
relational capital as well as the well-understood structural repositories. The article concludes that effective policies inexorably lead to a
culture for learning and development.
© 2009 IUP. All Rights Reserved.
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