What is Knowledge-Based Economy

1.

A phrase used to describe economies in which information and knowledge hold greater contributing power to the economic welfare of nations than in industrial societies. Learn more in: Peer Learning and Social Interactions in an Asynchronous Learning Environment

2.

a form of modern economy referring to a specific structural transformation, where the fast creation of new knowledge and the improvement of access to various knowledge bases increasingly constitute the main resource for greater efficiency, novelty and competitiveness. Learn more in: Exploitation of Public Sector Information in Europe

3.

Economy which is directly based on the production, distribution and use of knowledge and information. Learn more in: Intellectual Capital Measurement

4.

An economy that generates significant share of its output through knowledge and innovation. Learn more in: Higher Education in MENA through Global Lenses: Lessons Learned from International Rankings

5.

Economy with mechanisms leading to the use of knowledge to improve the competitiveness of enterprises. It may also be considered a knowledge driven economy, i.e. economy in which knowledge (its outlays and shape) becomes more important determinant of the rate and level of growth than outlays and volume of fixed assets. Learn more in: SME's Innovation and Internationalization in Knowledge-Based Economy: EU Case

6.

An expression coined to describe trends in advanced economies towards greater dependence on knowledge, information and high skill levels, and the increasing need for ready access to all of these by the business and public sectors. Learn more in: Information Society, Digital Divide, and E-Governance in Developing Countries

7.

“An expression coined to describe trends in advanced economies towards greater dependence on knowledge, information and high skill levels, and the increasing need for ready access to all of these by the business and public sectors” (OECD, 2005, para. 71). Also called knowledge economy . Learn more in: E-Learning Adaptability and Social Responsibility

8.

An economy characterized by the recognition of knowledge as a source of competitiveness; the increasing importance of science, research, technology, and innovation in knowledge creation; and the use of computers and the Internet to generate, share, and apply knowledge. Learn more in: Virtual Corporations