Knowledge investments lead to higher growth
Research by The Conference Board, an international research institute for business, commissioned by the working group ‘Kennisinvesteringsagenda’ (KIA) of the Innovation Platform, shows that execution of the KIA, investments and measurements, in order to become part of the world top of knowledge economies, will lead to higher economical growth. The study gives a sound quantitative basis for the thesis that expenses for education, research and innovation strongly pays. The study concludes that almost half of the economical growth between 1995 and 2008 was due to investments in knowledge and innovation. One third of this growth originated from public investments and two third from private investments. The conference board research was led by Bart van Ark, chief economist with The Conference Board and professor in economy at the University of Groningen. Van Ark and his colleagues developed a unique dataset for the measurement of material and immaterial expenses in the private and public sector from 1995 to 2008.
Source: The Innovation Platform (in Dutch)