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Nijkamp, Peter --- "Elements and Determinants of Economic Growth – Lessons and Policy Implications for the European Knowledge Society and Innovation System" [2006] ELECD 115; in Mundschenk, Susanne; Stierle, H. Michael; Stierle-von Schütz, Ulrike; Traistaru-Siedschlag, Iulia (eds), "Competitiveness and Growth in Europe" (Edward Elgar Publishing, 2006)

Book Title: Competitiveness and Growth in Europe

Editor(s): Mundschenk, Susanne; Stierle, H. Michael; Stierle-von Schütz, Ulrike; Traistaru-Siedschlag, Iulia

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845426620

Section: Chapter 3

Section Title: Elements and Determinants of Economic Growth – Lessons and Policy Implications for the European Knowledge Society and Innovation System

Author(s): Nijkamp, Peter

Number of pages: 19

Extract:

3. Elements and Determinants of
Economic Growth ­ Lessons and
Policy Implications for the European
Knowledge Society and Innovation
System
Peter Nijkamp

3.1 CHALLENGES FOR EUROPE

The history of European culture has been decisively influenced by a strong
science orientation, which has created progress and prosperity. Europe has
become one of the leading world regions in terms of innovative capability
and there are highly skilled human resources in many European countries.
Science-driven research ­ ranging from fundamental to applied research ­
has created a wealth of innovations, which have laid the foundation for a
modern knowledge-based society that is predominantly characterised by
strong international ties.
Modern science is increasingly characterised by a strong
internationalisation process, as is, for instance, witnessed by a multiplicity of
cooperative agreements between research institutions in various countries and
by multi-country authorships of scientific publications. The rising cross­
border orientation of scientific research prompts various challenging
questions: Is Europe able to keep pace with the unprecedented dynamics in
scientific development in our globalising world? Are the national and
European research (funding) systems sufficiently and effectively addressing
the far-reaching challenges of the emerging European knowledge economy?
Is the result of national funding mechanisms for science-driven research in
Europe comparable to that of competing regions like the USA?
Whilst Europe has moved in recent decades to a common market for
goods, services, people and capital, the market for scientific research is still
mainly nationally oriented. Despite the plethora of advances in the European
knowledge-based ...