Definition: Knowledge-based economy

Category: R & D - Oslo Manual

The "knowledge-based economy" is an expression coined to describe trends in advanced economies towards greater dependence on knowledge, information and high skill levels, and the increasing need for ready access to all of these by the business and public sectors.
Organization for Economic Cooperation and Development (OECD) and Statistical Office of the European Communities (Eurostat), "The measurement of scientific and technological activities: guidelines for collecting and interpreting innovation data: Oslo manual)", Third Edition, Paris, 2005, par. 71