Dynamics Of Economic Spaces In The Global Knowledge Based Economy

This book addresses how economic spaces dynamically change within the context of the global knowledge-based economy. Specifically, it centers the discussion on integrated views of understanding and conceptualizing dynamic changes of global economy under the global megatrends of globalization, knowledge-based economy, information society, service world, climate change, and population aging. Focusing on East Asia, especially on Korea, it deals with case studies regarding the processes and patterns of these global dynamics, looking at economic spaces of various spatial scales and types of economic actors. This book develops a theoretical model for understanding and analysing the dynamics of economic spaces that are being reshaped within the larger global economy. It also emphasizes the analysis of empirical studies at the level of firm, region, and state by considering an evolutionary perspective over time. In developing its theoretical framework, this book examines regional resilience, intangible assets, service innovation, path dependence, and other notions related to the evolution of economic spaces, and incorporates these elements into real-world case studies. The integrated theoretical framework examined here contributes a new perspective on spatial disparities in the global economy. An integral model of service innovation; the integration of path dependence and regional resilience; the interaction between firm and region for the accumulation of intangible assets; and the roles of governments and global firms: these are all essential to understanding the dynamics of economic spaces in East Asia. The theoretical model and case studies in this book suggest policy implications for developing countries, especially in the Asian and African regions, with regard to regional development and innovation policies.

This book addresses how economic spaces dynamically change within the context of the global knowledge-based economy. Specifically, it centers the discussion on integrated views of understanding and conceptualizing dynamic changes of global economy under the global megatrends of globalization, knowledge-based economy, information society, service world, climate change, and population aging. Focusing on East Asia, especially on Korea, it deals with case studies regarding the processes and patterns of these global dynamics, looking at economic spaces of various spatial scales and types of economic actors. This book develops a theoretical model for understanding and analysing the dynamics of economic spaces that are being reshaped within the larger global economy. It also emphasizes the analysis of empirical studies at the level of firm, region, and state by considering an evolutionary perspective over time. In developing its theoretical framework, this book examines regional resilience, intangible assets, service innovation, path dependence, and other notions related to the evolution of economic spaces, and incorporates these elements into real-world case studies. The integrated theoretical framework examined here contributes a new perspective on spatial disparities in the global economy. An integral model of service innovation; the integration of path dependence and regional resilience; the interaction between firm and region for the accumulation of intangible assets; and the roles of governments and global firms: these are all essential to understanding the dynamics of economic spaces in East Asia. The theoretical model and case studies in this book suggest policy implications for developing countries, especially in the Asian and African regions, with regard to regional development and innovation policies.

Innovation, which in essence is the generation of knowledge and its subsequent application in the marketplace in the form of novel products and processes, has become the key concept in inquiries concerning the contemporary knowledge based economy. Geography plays a decisive role in the underlying processes that enable and support knowledge formation and diffusion activities. Place specific characteristics are considered especially important in this context, however, more recently investigation into innovative capacity of places has also turned its attention to external knowledge inputs through innovation networks, and increasingly recognize the evolutionary character of the processes that lead to knowledge creation and subsequent application in the marketplace. The chapters that comprise this book are embedded at the intersection of the dynamic processes of knowledge production and creative destruction. The first three contributions all discuss the role of global innovation networks, in the context of territorial and/or sectoral dynamics, while the following two chapters investigate the evolution of regional or metropolitan knowledge economies. The final three contributions adopt a knowledge base approach in order to provide insight into the organisation of innovation networks and spatiality of knowledge flows. This book was published in a special issue of European Planning Studies.

This book explores the relationship between space and economy, the spatial expressions of the knowledge economy. The capitalist industrial economy produced its own space, which differed radically from its predecessor agrarian and mercantile economies. If a new knowledge-based economy is emerging, it is similarly expected to produce its own space to suit the new circumstances of production and consumption. If these spatial expressions do exist, even if in incomplete and partial forms, they are likely to be the model for the future of cities.

The broad spectrum of topics surrounding what is termed the ‘knowledge economy’ has attracted increasing attention from the scientific community in recent years. The nature of knowledge-intensive industries, the spatiality of knowledge, the role of proximity and distance in generating functional knowledge, the transfer of knowledge via networks, and the complex interplay between knowledge, location and economic development are all live academic issues. This book, the fifth volume in Springer’s Knowledge and Space series, focuses on the last of these: the multiple relationships between knowledge, the economy, and space. It reflects the conceptual and methodological multidisciplinarity emerging from this scholarship, yet where there has up to now been a notable lack of communication between some of the contributing disciplines, resulting in lexical and other confusions, this volume brings concord and to foster interdisciplinarity. These complications have been especially evident in our understanding of the spatiality of knowledge, the part that spatial contexts play in knowledge creation and diffusion, and the relevance of face-to-face contacts, all of which are addressed in these pages. The material here is grouped into four sections—knowledge creation and economy, knowledge and economic development, knowledge and networks, and knowledge and clusters. It assembles new concepts and original empirical research from geography, economics, sociology, international business relations, and management. The book addresses a varied audience interested in the historical and spatial foundations of the knowledge economy and is intended to bridge some of the gaps between the differing approaches to research on knowledge, the economy, and space.

Contemporary capitalistic systems have been undergoing profound transformations determined by the transition towards the so-called knowledge based economy, i.e. a competitive system based on the capabilities firms have to create, use and circulate knowledge. These transformations concern both the characteristics of productive and innovative processes, and the resources used in these activities. This book captures these changes, where traditional R&D investments undertaken internally by firms are increasingly and strategically complemented by external sources of innovation and new knowledge. Collaborations between firms, and between firms and other organizations, as well as the mobility of human capital, are strategic processes in order to share and circulate knowledge and competencies. They are also key determinants in the creation of new knowledge and innovation, and ultimately in growth dynamics. The circulation and distribution of knowledge is now a key input in the production of knowledge. Knowledge and innovation are understood as the result of collective and interactive processes at the system level, and less at the micro level. In other words, new knowledge production is less and less the result of individualistic behaviours of the firms and much more the effect of explicit and pro-active interactions and transactions put in place by local networks of innovators. In this perspective, economic space is much more defined by the quality of the interactions among actors rather than by their mere technological, sectoral or geographical proximity. This book brings together new conceptual and empirical contributions and blends the analysis of the technological and geographical spaces in which innovation and knowledge are produced.

. . . the topical way in which the subject is discussed makes this book useful also for policymakers or entrepreneurs interested in the subject. It is also appropriate for Masters or Ph.D. students who have a basic background in economics and management. . . [the book] provides interesting and deep analysis of the dynamic of knowledge economy and it is very well written. Francesca Masciarelli, Journal of Management and Governance The knowledge economy is a concept commonly deemed too ambiguous and elusive to hold any significance in current economic debate. This valuable book seeks to refute that myth. Presenting an important collection of views, from a number of leading scholars, this innovative volume visibly demonstrates that knowledge and information are a prime resource in driving the dynamics of an economy. It is argued that in order to understand the knowledge economy a diverse set of insights and approaches are required, which shed new and striking light on the roots of present-day economic dynamics. Using both theoretical and empirical material, this interdisciplinary collection offers a range of micro and macro perspectives. It draws on a variety of scientific backgrounds, and uses and develops a number of different methodologies, some of which may not be familiar in mainstream economics. The approaches adopted by historians, economists, systems theorists, management scholars and geographers which are explored in this book are central to encouraging a new and practical way forward in reading the dynamics of the knowledge economy. In offering these key insights, this important volume makes an invaluable contribution to the lively debate surrounding the knowledge economy. An essential read for economists, this book will also find widespread appeal amongst scholars of management, cultural studies and geography.

This book investigates dynamic regions in the context of greater global interaction in a world economy increasingly driven by knowledge and innovation. It offers novel empirical evidence on the underlying factors of the growth performance of these spaces. In particular, the following questions are addressed: What role is there for research, education and innovation in the development strategies of the dynamic growth regions? What are the risks and consequences of dynamic growth on patterns of world growth and development, competitiveness, inequalities, and convergence? What development strategies should be promoted at national and international levels to promote a growing and more sustainable world economy? What are the implications of the emerging new competitors for Europe’s competitiveness? Using an innovative, integrated framework of analysis, the contributions in this book combine a wide array of complex theoretical and methodological approaches.