Stimulating Economic Growth through Knowledge-based InvestmentCharles Hulten ,
OECD Science, Technology and Industry Working Papers
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.