Planning for growth in the Knowledge Based Economy is the focus of the "Drivers of the New Economy: Innovation and Organizational Practices" report compiled by the APEC Economic Committee (EC) that will now be presented to APEC Ministers.
The fourth in a series of reports on regional economic developments, this volume is made up of three separate contributions that draw on case examples.
The first, "Economic Contributions of Research and Development in Singapore" attempts to quantify the contributions of R&D to Singapore's economy.
The second, "Mapping Singapore's Knowledge-Based Economy" gives an assessment of the strengths of Singapore's KBE and outlines opportunities for future growth.
The third paper, "Innovative Business Strategies and Firm Performance in the New Economy" uses Canadian data to quantify the role of innovative business strategies in supporting productivity improvements.
Chair of the APEC EC, Dr. Choong Yong Ahn, said the observations outlined in the report reflect the broad scope of the growing knowledge challenge to the region.
"The knowledge based economy is changing not only the way business is conducted and goods are produced, but is transforming entire economies," Dr. Ahn said.
"The integration of information and communications technology with other fields of science and technology is increasing the rate at which people and businesses interact and the volume of information they can be shared.
"From the research compiled in this report and similar studies, economic growth appears to be most sustainable for those economies which are closest to being identified as knowledge based economies.
"From research it appears that the strength of a knowledge based economy can be measured in terms of the four interactive capabilities of - knowledge creation, acquisition, dissemination and application.
"In this report the APEC EC continues to support research by member economies to further understand the dynamics of knowledge-based economies and to develop public policy to foster this form of growth."
Knowledge: The New Factor of Production Chapters:
Economic Contributions of Research and Development in Singapore
The aim of this study is to quantify the different ways in which Research & Development (R&D) has contributed to the Singapore economy. This quantitative framework can then be used as a reference to help refine Singapore's technology policy. Singapore's experience in building its national innovation system can serve as a useful case study for other APEC economies.
Mapping Singapore's Knowledge-Based Economy
This case study takes stock of Singapore's progress in building up its KBE and analyses how these developments have contributed to its economic competitiveness. The findings of the study will enable Singapore to identify gaps in strategically important areas, and thereby take steps to enhance its economic position in the years ahead. It is also hoped that the results could prove useful to other APEC economies in developing their own KBE strategies.
Innovative Business Strategies and Firm Performance in the New Economy
The term innovative business strategy is relatively broad and includes strategic, structural and work practices of organizations. This paper defines innovative business strategies to include the three streams of the restructuring of production processes, human resource management and product/service quality-related practices.
The "Drivers of the New Economy: Innovation and Organizational Practices" report will be posted on the APEC Secretariat Website after it has been officially presented to APEC Ministers on October 18.