Measuring the Knowledge Economy: A National and Organizational Perspective
Measuring the Knowledge Economy: A National and Organizational Perspective

Summary/Abstract: This article aims to analyze how the knowledge economy is measured andhow different are the tools developed for this purpose. Since the research focuses onthe “how” issues, a qualitative approach is employed. The analysis concentrates onthree of the most frequently used tools for measuring a country’s progress towardsconsolidating itself as a knowledge economy, namely: Knowledge AssessmentMethodology, developed by World Bank, Lisbon Scorecard, elaborated by WorldEconomic Forum, and Innovation Union Scoreboard, created by the European Union.Nevertheless, Kensho New Economies Composite Index – the newest instrumentdeveloped by Kensho Technologies – is brought forward. The results prove that thethree most frequently used tools for measuring countries’ progress towardsconsolidating themselves as knowledge economies have the same informationcapability while the newest tool emphasizes what is usually labelled as “intellectualcapital”, although it uses the phrase “Knowledge Economy”. On the one hand, theseresults shed light on policy-makers’ psychological need of measuring the intangibleassets, and transforming the intangible into tangible. On the other hand, theyhighlight the need for redefining the concept of “knowledge economy” andestablishing its pillars.

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