OECD Science, Technology and Industry Working Papers

ISSN :
1815-1965 (online)
DOI :
10.1787/18151965
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The OECD Directorate for Science, Technology and Innovation (STI) leads OECD research on the contribution of science, technology and industry to well-being and economic growth. STI Working Papers cover a broad range of topics including definition and measurement of science and technology indicators, global value chains, and research on policies to promote innovation. These technical or analytical working papers are prepared by staff or outside consultants to share early insights and elicit feedback.
 

Stimulating Economic Growth through Knowledge-Based Investment You or your institution have access to this content

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Author(s):
Charles Hulten1
Author Affiliations
  • 1: University of Maryland, United States

Publication Date
22 May 2013
Bibliographic information
No:
2013/02
Pages
39
DOI
10.1787/5k46dbzqhj9v-en

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Recent studies have shown that knowledge-based capital (KBC) is an important source of economic growth in many of the world’s advanced economies (much more so than R&D alone) and is positively correlated with real GDP per capita in a cross-section of these economies. This literature is still in its infancy and there is, as yet, no systematic discussion of KBC policy. This paper makes an attempt to fill this gap.