Supporting Investment in Knowledge Capital, Growth and Innovation

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Knowledge-based capital (KBC) results from business investment in non-physical assets such as R&D, data, software, patents, new business models, organizational processes, firm-specific skills and designs. This publication brings together the results of a two-year programme of work at the OECD on New Sources of Growth and the role of Knowledge-based Capital (NSG-KBC). This work shows that business investment in KBC is a key to future productivity growth and living standards. In many countries, business investment in KBC has increased faster than - and in some countries significantly exceeds - investment in physical capital (like machinery). To promote long-term growth and the jobs of tomorrow, governments must ensure that framework conditions, institutions and policies facilitate business investment in KBC. Emerging economies are also making concerted efforts to help their businesses accumulate KBC. This book sets out policy analyses and recommendations in the fields of: innovation; taxation; entrepreneurship and business development; corporate reporting; big data; competition and measurement.


Knowledge networks and markets

Rising investment in knowledge-based capital and the unprecedented accumulation of information and intellectual property rights have driven a widespread search for mechanisms to help individuals, businesses and organisations navigate increasingly complex innovation systems. Knowledge networks and markets (KNMs) are the set of systems, institutions, social relations, networks and infrastructures that enable the exchange of knowledge and associated intellectual property rights. KNMs provide services to actors in the innovation system ranging from facilitation of the search for, and matching to, relevant counterparties, to evaluating, executing and enforcing agreements. This chapter reviews the different types of KNM – including aspects of the market for skilled workers – their rationale, modus operandi, and what is known about best policy practice. Emphasis is placed on the complexity of policy analysis and evaluation. The challenges of measuring relevant knowledge flows are also examined. The


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