ABSTRACT
It is almost commonplace to state that the capability to apply new knowledge is the most important asset of developed economies in their attempts to innovate and remain competitive in a global world. Whereas knowledge in neoclassical growth theory in the 1960s was perceived as an important external factor that could not be explained by labour and capital input, since the 1980s and increasingly today it has been assigned an endogenous role that can be steered and decided upon by companies (for example, Smith 2002; Foray 2004). An additional explanation for the current attention on the application of new knowledge is the increased mobility of capital and labour in a world in which modern traffic, communication technology and the lifting of particular borders have led to increased competition in attracting production with the highest value added (OECD 1996).
