Knowledge and regional competitiveness

Abstract

Knowledge has emerged as one of the most important aspects influencing regional economic success. Despite considerable research in other fields, much remains unknown about how knowledge is defined, created and shared. From the perspective of regional competitiveness, it is the knowledge that firms create, control and share that matters most. Regional knowledge is comprised of both what firms within the region have and how the culture of the region helps to improve knowledge both quantitatively and qualitatively. This is best done via networks with other firms and organizations, both those located nearby and in other, nonlocal places. Measuring knowledge at the regional level is especially difficult, because of data problems; recent attempts to track the new economy in the USA provide some indicators. International comparisons that incorporate knowledge are more readily available, but they differ greatly in what they measure.