Knowledge driven

Published: Wednesday 31 October 2001

sweden is the world's most knowledge-based economy, followed by usa , South Korea and Finland, with the uk occupying the 13th position. This was revealed during an update of the science, technology and industry scoreboard of the Organisation for Economic Cooperation and Development (oecd). The finding, based on new statistical techniques, gives a unique snapshot of the strengths of the different countries in high technology and knowledge-based sectors. The update revealed that across the oecd , which covers 30 of the world's most developed nations, investment in knowledge-based activities is expanding at a 50 per cent faster rate than investment in fixed capital assets. oecd defined knowledge-based activities as research and development, software and higher education. It says that Sweden invested a sum equivalent of 6.5 per cent of its gross domestic product on knowledge activities in 1998, followed by the us with six per cent and Finland and South Korea each with 5.2 per cent. Across the oecd , the average was 4.7 per cent. Switzerland scored highest in those areas of manufacturing and services that are particularly knowledge-intensive.

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