Defining and identifying the knowledge economy in Scotland: a regional perspective on a global phenomenon

Iain McNicoll, Ursula Kelly, Richard Marsh, David McLay

Research output: Book/ReportBook

Abstract

The development and growth of a knowledge economy has become a key policy aim forgovernments in all advanced economies. This is based on recognition that technologicalchange, the swift growth of global communications, and the ease of mobility of capital across national borders has dramatically changed the patterns of international trade and investment. The economic fate of individual nations is now inseparably integrated into the ebb and flow of the global economy. When companies can quickly move capital to those geographical locations which offer the best return, a country's long term prosperity is now heavily dependent on its abilityto retain the essential factors of production that are least mobile. This has led to apremium being placed on the knowledge and skills embodied in a country's labourforce, as it has become a widely accepted view that a country which possesses a high level of knowledge and skills in its workforce will have a competitive advantage overothers with a lower domestic skill base. Knowledge and skills are thought to be thebasis for the development of a knowledge economy.
LanguageEnglish
Place of PublicationGlasgow, United Kingdom
PublisherUniversity of Strathclyde
Number of pages36
ISBN (Print)0-9542926-0-X
Publication statusPublished - 2002

Fingerprint

Knowledge economy
Scotland
Prosperity
Economics
Competitive advantage
Global economy
International investments
Growth and development
Workforce
Integrated
Global communication
Factors of production
International trade

Keywords

  • knowledge economy
  • higher education
  • international trade
  • labour mobility
  • economies

Cite this

McNicoll, I., Kelly, U., Marsh, R., & McLay, D. (2002). Defining and identifying the knowledge economy in Scotland: a regional perspective on a global phenomenon. Glasgow, United Kingdom: University of Strathclyde.
McNicoll, Iain ; Kelly, Ursula ; Marsh, Richard ; McLay, David. / Defining and identifying the knowledge economy in Scotland: a regional perspective on a global phenomenon. Glasgow, United Kingdom : University of Strathclyde, 2002. 36 p.
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McNicoll, I, Kelly, U, Marsh, R & McLay, D 2002, Defining and identifying the knowledge economy in Scotland: a regional perspective on a global phenomenon. University of Strathclyde, Glasgow, United Kingdom.

Defining and identifying the knowledge economy in Scotland: a regional perspective on a global phenomenon. / McNicoll, Iain; Kelly, Ursula; Marsh, Richard; McLay, David.

Glasgow, United Kingdom : University of Strathclyde, 2002. 36 p.

Research output: Book/ReportBook

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AU - Marsh, Richard

AU - McLay, David

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N2 - The development and growth of a knowledge economy has become a key policy aim forgovernments in all advanced economies. This is based on recognition that technologicalchange, the swift growth of global communications, and the ease of mobility of capital across national borders has dramatically changed the patterns of international trade and investment. The economic fate of individual nations is now inseparably integrated into the ebb and flow of the global economy. When companies can quickly move capital to those geographical locations which offer the best return, a country's long term prosperity is now heavily dependent on its abilityto retain the essential factors of production that are least mobile. This has led to apremium being placed on the knowledge and skills embodied in a country's labourforce, as it has become a widely accepted view that a country which possesses a high level of knowledge and skills in its workforce will have a competitive advantage overothers with a lower domestic skill base. Knowledge and skills are thought to be thebasis for the development of a knowledge economy.

AB - The development and growth of a knowledge economy has become a key policy aim forgovernments in all advanced economies. This is based on recognition that technologicalchange, the swift growth of global communications, and the ease of mobility of capital across national borders has dramatically changed the patterns of international trade and investment. The economic fate of individual nations is now inseparably integrated into the ebb and flow of the global economy. When companies can quickly move capital to those geographical locations which offer the best return, a country's long term prosperity is now heavily dependent on its abilityto retain the essential factors of production that are least mobile. This has led to apremium being placed on the knowledge and skills embodied in a country's labourforce, as it has become a widely accepted view that a country which possesses a high level of knowledge and skills in its workforce will have a competitive advantage overothers with a lower domestic skill base. Knowledge and skills are thought to be thebasis for the development of a knowledge economy.

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KW - higher education

KW - international trade

KW - labour mobility

KW - economies

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BT - Defining and identifying the knowledge economy in Scotland: a regional perspective on a global phenomenon

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ER -

McNicoll I, Kelly U, Marsh R, McLay D. Defining and identifying the knowledge economy in Scotland: a regional perspective on a global phenomenon. Glasgow, United Kingdom: University of Strathclyde, 2002. 36 p.