Integrating Circular Economy, Capability Approach and Action Research. Maria Angela Ferrario1, Zoltán Bajmócy2, 3, Will Simm1, Stephen Forshaw1. 1 Lancaster University, School of Computing and Communications, Lancaster, UK 2 University of Szeged
agile and reflective approach that integrates a) the principles of circular economy b) the practices of open-source licensing c) the principles of capability approach.
Circular Economy; Capability Approach (CA) Theme: 7. Special sessions Subtheme: 7. 34. Transformative Science for Transformative Social Change:
We argue that the circular economy approach 10 as well as the human development and capability approach 3 are meaningful ways for exploring potentially sustainable technology development processes.
Underpinning Concepts The circular economy approach is a thinking framework that considers economy as a network of systems that transform resources (e g. actual material, energy) and feeds them back into a closed virtuous loop.
and scalability for the relatively more affluent‘averages'weakens our economy by concentrating wealth and power in the corporate network of the few 17 instead of harnessing the strengths of more diverse, distributed and potentially more resilient parts of society.
23 FN, September 2002 Digital Business Ecosystems page 3 1. OVERVIEW AND RATIONALE Small Organisations and e-business The SMES are the backbone of European economy (there are now over 19
The two digital divides At the Lisbon summit in March 2000, the European union representatives set the goal of becoming the world's most dynamic and competitive knowledge-based economy by 2010 with the need to promote an‘Information Society
and adopters of ebusiness in some cases perceived as the worldwide benchmark the situation is entirely different in regions with less developed economies, particularly in Southern Europe.
and ecommerce in all sectors of the economy. 2 Benchmarking national and regional ebusiness policies for SMES Final Benchmarking report 12 june 2002 SMES and ICT goal of Lisbon regional divide
Three main key issues should be addressed to effectively support Small Businesses evolution toward the knowledge economy:
but also entrepreneurial and managerial expertise needed for operating in a networked economy. SMES critically depend on on-the-job competence.
As a result, the preponderance of SMES in Europe's economy is matched not by their use of digital systems. 7 in 2000 34%of large enterprises compared to 10%of SMES10 used e-business services (source Eurostat) FN,
user profiling Local ecosystem/s Savanna, j u n g l e/ecosystems of Amazonas Regional economy/multiregional economy L o c a l
Clup-Clued, 1980 FN, September 2002 Digital Business Ecosystems page 19 management of the Chile's economy;
The European council held in Lisbon on 23/24 March 2000 recognised an urgent need for Europe to quickly exploit the new opportunities of the economy and in particular the Internet.
Section 7 provides a 2 Parsons sees a social system as part of a social action system that comprises the economy (social adaptation to its action and non-action environmental systems), the polity (collective goal attainment),
In a laissez-faire regime, characterised by a limited state intervention in the economy (e g. the US, some Western europe countries), industry is the driving force, with the other two spheres as ancillary support structures and limited roles
the Head of the New york Federal reserve bank initially took the lead in calling for high-tech development as an alternative to finance as the engine of New york's economy.
or by emerging companies that proved to be too weak to restart the economy. A shift to a knowledge-based economy was sought, in
which universities would play a greater role, moving on from the position of R&d labs for industry they had played earlier.
Innovations for a Low Carbon Economy: Economic, Institutional and Management Approaches. Edward Elgar, Cheltenham. 37 Bergek, A s. Jacobsson, B. Carlsson, S. Lindmark,
and the knowledge economy. Industrial and Corporate Change, 10,945-974. Cooke, P.,Boekholt, P.,Tödtling, F. 2000.
The Warhol Economy. Princeton: Princeton university Press. Cusumano, M. A.,Elenkov, D. 1994. Linking international technology transfer with strategy and management:
Technology and economy theory. Pinter, London. Freeman, C. 1991. Networks of innovators: A synthesis of research issues.
Towards a`New'Strategic Leadership of Place for the Knowledge-based Economy. Leadership 5, 5-23.
Distributed economies A new engine for innovation. Journal of Cleaner Production 13,971-979. Kaufmann, A.,Tödtling, F. 2001.
Etzkowitz, H.,Leydesdorff, L. Eds), Universities and the Global Knowledge Economy: A Triple Helix of University Industry Government Relations.
The Knowledge-Based Economy: Modeled, Measured, Simulated. Universal Publishers, Boca raton, FL. Leydesdorff, L. 2008. Configurational Information as Potentially Negative Entropy:
Measuring the knowledge base of an economy in terms of triple-helix relations among'technology, organization, and territory.
Economy and Society. Routledge & Kegan Paul, London. Pavitt, K. 1984. Sectoral Patterns of Technical Change:
economy (e g. Cooke and Leydesdorff, 2006; OECD, 1996), characterized by both accelerating pace of change and increasing complexity and uncertainty,
) As Nonaka (1991,96) puts it, in an economy where the only certainty is uncertainty, the one sure source of lasting competitive advantage is knowledge.
From the point-of-view of an individual entrepreneur, the knowledge-based economy is mixed a blessing: more and more information is freely available,
to achieve scale economies in production, and to reduce the time taken to develop and commercialize new products (Tidd et al.,
in order to understand the process of innovation and, concomitantly, technological change and advancement in the economy (e g.
Cooke, P. and Leydesdorff, L. 2006), Regional development in the knowledge-based economy: the construction of advantage, Journal of Technology Transfer, Vol. 31 No. 1, pp. 5-15.
in Archibugi, D.,Howells, J. and Michie, J. Eds), Innovation Policy in a Global economy, Cambridge university Press, Cambridge, MA, pp. 67-93.
Johannessen, J-A.,Olaisen, J. and Olsen, B. 1999), Managing and organizing innovation in the knowledge economy, European Journal of Innovation Management, Vol. 2 No. 3, pp. 116-28.
OECD (1996), The Knowledge-Based Economy: Science, Technology and Industry Outlook, OECD, Paris. OECD (2005), The Measurement of Scientific and Technological Activities:
Technology transfer in a global economy. The Journal of Technology Transfer 39,301-312. Crossref 12. Franz Tödtling, Markus Grillitsch. 2014.
Journal of the Knowledge Economy 5, 330-356. Crossref 13. Thuy Hang Do, Tim Mazzarol, Thierry Volery, Sophie Reboud. 2014.
global) Businessweek (business schools, USA+global) The Economist (business schools; global) The major dimensions along which we analysed the classifications, rankings and league tables included:
In nations across the globe, global rankings have prompted the desire for‘world-class universities'both as symbols of national achievement and prestige and supposedly as engines of the knowledge economy (Marginson, 2006.
Impact indicators, referring to the contribution of research outcomes to society, culture, the environment and/or the economy.
The process by which the knowledge, expertise and intellectually linked assets of Higher education institutions are applied constructively beyond Higher education for the wider benefit of the economy and society, through two-way engagement with business, the public sector, cultural and community partners.
i e. business and the economy, has now become a preoccupation of many governing and funding bodies, as well as policy-makers.
and the relevance of higher education and research to the regional economy and the regional society at large,
a win-win for all Creating a competitive greener economy-Towards a greener economy-Future transport policy Fully exploiting the Single Market Competitiveness in the global market Overall,
the EU-compared with other economies in the developed world-continues to underperform in terms of building a smart, innovation-based, knowledge-driven economy.
It trails other advanced economies in all four smart areas identified by the Europe 2020 strategy
and innovative capacity that would allow its economies to unlock new sources of growth. While welcoming the efforts undertaken by the various actors in the EU since 2010,
supporting growth and creating jobs in the European economy. Tools Do the current targets for 2020 respond to the strategy's objectives of fostering growth and jobs?
However, for all European economies, investments in knowledge-generating assets will translate into important drivers for future productivity growth those drivers being a common focus on education, information and communication technologies,
In a globalised economy, open markets and a predictable trade policy are pivotal in furthering Europe's competitiveness and job creation.
The next five years will be critical in returning the European economy to growth and job creation. Retail and wholesale can contribute,
Ensure that the EU 2030 greenhouse gas target is adaptable to other major economies'commitments
Two Key Sectors for the European Economy by the Oxford Institute of Retail Management. More specifically on the wholesale sector, Eurocommerce invites the European Institutions to enhance their awareness of b2b trade in Europe.
To this end, we have published our brochure Wholesale Job Engine at the Centre of Europe's Economy.
Commerce plays a unique role in the European economy, acting as the link between manufacturers and the nearly 500 million consumers across Europe over a billion times a day.
176 9. 5 The Business model in the Information and Communication Economy...178 9. 5. 1 The Strategic Variables...
what the Economist called a Data Deluge 4, and they are worth to be considered in order to clearly understand actual and future business challenges of the phenomenon called Big data,
Harv Educ Lett 27 (5) 4. The Economist (2010) Data, data everywhere. Special report on information management 5. Davenport TH, Patil DJ (2012) Data scientist:
as well as a transformation of the global economy towards a service economy, through a consequent change in IT innovation for service management,
In fact, a Gartner group prediction, reported by the Economist 4, states 1 billion smartphones will be sold in 2015, up from 468 million in 2012.
Accessed 21 nov 2013 4. The economist (2011) consumerisation the power of many. economist pp 1 4 5. D'Arcy P (2011) CIO strategies for consumerization:
10.1007/978-3-319-04307-4 6, Springer International Publishing Switzerland 2014 113 started as an effort by technologists to learn from different kinds of scientists and specialists such as economists
which have been studied rarely 6. There is a big difference of the influence of the digital collaboration in the global economy in comparison to a single country or region.
Managing teams that are distributed globally requires a more demanding standard of management and collaboration to those needed for more typical virtual groups within the same economy or region.
in order for information systems to be more successful and productive in the global economy 6. However, confusion can happen because of the lack of common understanding of the Cross Organizational Collaboration (COC),
in formulating and implementing effective business models 3. It can rightly be argued that the‘‘original sin''of many of the so-called dot com that collapsed at the outbreak of the new economy bubble during the years 2000 and 2001 can be identified precisely in the absence of an economically successful,
and that involve significant changes with respect to the socalled industrial economy and will therefore be called upon to design
Table 9. 7 compares the essential features of the processes of transformation of the traditional industrial economy on one side and that of the digital economy on the other.
In the industrial economy a process of value creation starts from raw materials and from the physical inputs that are needed to produce finished products or services.
The industrial economy is driven by the offer side with a constant focus on cost containment, while, as already discussed, the digital economy is driven fundamentally by customer demand.
However, in the industrial economy knowledge generation and application processes are aimed essentially at making production more efficient through cost reductions
and the digital economy Industrial economy Digital economy Business process orientation Guided by offer Guided by demand Economic focus Cost minimizing Value maximizing Product policy Offer standardization Offer personalization
41,42. 9. 5 The Business model in the Information and Communication Economy The consolidation of the information and communication economy is the culmination of the process of evolution that had the service economy gradually replaced the industrial economy,
and Communication Economy 179 experience goods must devise strategies to persuade users to overcome their reluctance to buy information before knowing the characteristics.
the central problem of the information economy can be summed up in the contrast between the need for users to understand the characteristics of the main product/service that is being offered to them
which exploits the peculiarities of the information economy, is the so-called‘‘freemium''(combination of‘‘free''and‘‘premium'')
and hyper-competitive have undermined the very architecture of innovation processes that were the basis for the growth of 9. 5 The Business model in the Information and Communication Economy 181 companies for many years, pushing towards a profound transformation
. 5 The Business model in the Information and Communication Economy 183 broadening the portfolio of solutions and projects
Many Enabling infrastructure Ready 204 10 Innovation Practices The New york times, The Economist, The Wall street journal and other publications).
but to the progress of industries and economies. Just over 20 years ago, the internet was emerging
They grew aggregate revenues of nearly $100bn by 30%annually for two years straight in an environment where the overall economy grew at less than 1/10th of that rate.
000th of the total number of US companies) have created over 160,000 jobs in the last two years (nearly 1/20th of the total US economy).
enrich lives and contribute to the vibrancy of national economies. The contest starts at the regional level, with 25 different competitions that select award winners.
This stands in the context of 150,000 monthly jobs created across the whole US economy (comprised of some 6 million companies) during the same time period.
So a sample of 1/10, 000th the total number of US companies has created 1/22th of the economy's jobs a good indicator for highimpact.
often with a significant impact on local economies. The recent effect of Facebook's IPO on both the local San francisco bay Area economy as well as tax revenues is a good example.
Of course, such wealth creation needs to be viewed in the broader picture of societal balance and is viewed not always completely positively by all stakeholders.
as many high-impact businesses operate in network economies (or even create them). While a company like Facebook has changed clearly the way we communicate
Airbnb, Lyft and other corporations active in the sharing economy are prime examples of corporate societal disruptors.
At the same time, the US economy added 3. 6m jobs to an existing base of approximately 136m a marginal job creation rate of 2. 64%.
the US economy operates on a much larger base, but the impact the Eoy contestants have is nevertheless nothing short of astonishing.
Median Return on Assets data for Entrepreneur Of The Year participant companies Fig. 4. 3. Marginal 2-year job creation rates for Eoy sample and the US economy
(2010-2012) EOY national finalists 60.5%EOY award winners 47.9%EOY contestants 33.8%US economy 2. 64%High-impact Entrepreneurs
Simultaneously, learning effects and scale economies keep positive momentum on margins in this stage. This analysis shows the importance of operational metrics other than just growth through the life stages.
when applying, we can compare the relative job creation rates as exemplary for high-impact companies across the US economy.
Hiscock-Croft was a Senior Economist at the investment bank Macquarie. She holds a Master's degree in Financial Econometrics from the University of New south wales
a nonprofit organization transforming economies around the globe through high-impact entrepreneurship. With offices in 20 countries, Endeavor supports over 500 entrepreneurial firms that collectively command US$ 6 billion in annual revenue and provide over 225,000 people with high-quality jobs.
His work been recognized in publications like The New york times and The Economist. Jeremy began his career with the strategy consultants Mckinsey and Company.
What impact would this have on Europe's economy and society? It is reasonable to assume that European output
this challenge includes persistent innovation divides between European economies as well as between Europe overall and comparator economies such as the United states. The report suggests a forward-looking agenda designed to contribute to Europe's competitiveness
and growth by encouraging a robust environment of ambitious, serial entrepreneurs who envisage, create and scale innovation-driven ventures.
growth expectations remain tempered across advanced economies, and in the Eurozone in particular, where growth rates remain low and unemployment stubbornly high.
Europe continues to struggle to increase its competitiveness and set its economy on a more solid footing.
many other European economies have much ground to cover. This result is confi rmed by the Forum's 2014 edition of the EU2020 Competitiveness Report
which indicates that Europe has the greatest gap with benchmark economies and the greatest divergence between its member states with regard to measures of smart growth, particularly with reference to the digital agenda and innovation.
Belgium, France, Netherlands, Republic of ireland and United kingdom), indicating a potential draw for entrepreneurs from these economies to Central and Eastern European (CEE) countries to take advantage of lower fixed
and thus contribute to fuelling the European economy. Jan Mühlfeit Chairman, Europe, Microsoft Corporation Benefit for large corporates Benefit for entrepreneurs Risk to one or both partners Company shares in high-potential entrepreneurial ventures Access
The role of innovation-driven entrepreneurship in the economy: Which role does driven innovation entrepreneurship play for your economy?
Could you estimate what proportion of SME employees in your country are working in innovation-driven SMES?
In general, policy-makers highlighted the important role of entrepreneurship for the European economy. Key activities on the policy agenda include steps to tailor education to the needs of entrepreneurial careers,
of Finland António Pires de Lima Minister of Economy of Portugal David Willetts Minister of state for Universities and Science of the United kingdom Figure 19:
-driven entrepreneurship in your economy: More than 20 million SMES in Europe have a key role to play in fostering innovation.
Fostering Innovation-driven Entrepreneurship in Europe 35 Toomas Hendrik Ilves President of Estonia The role of innovation-driven entrepreneurship in your economy:
of Finland The role of innovation-driven entrepreneurship in your economy: Innovation-driven entrepreneurship is one of the key focus areas in the Finnish government's economic policy.
Kroes Vice-president and Commissioner for the Digital Agenda, European commission The role of innovation-driven entrepreneurship in your economy:
It's quite simple it's about growing the economy and solving our social challenges.
Sass Larsen Minister for Business and Growth of Denmark The role of innovation-driven entrepreneurship in your economy:
Entrepreneurs play a key role in securing competition and innovation in the economy. In recent years innovation-driven entrepreneurship has become an important part of Danish policy.
and act as an engine for innovation in the global knowledge economy. Open and innovative large companies play a vital role in the emergence and development of entrepreneurial ecosystems.
Fostering Innovation-driven Entrepreneurship in Europe 39 António Pires de Lima Minister of Economy of Portugal The role of innovation-driven entrepreneurship in your economy:
the Portuguese economy suffered structural changes: becoming a highly exporting, increasingly innovative and entrepreneurial economy.
Our exports have grown significantly (at the fastest pace in EU15, and have increased their technological profile).
and an enabling business regulatory environment. 40 Enhancing Europe's Competitiveness Mark Rutte Prime minister of The netherlands The role of innovation-driven entrepreneurship in your economy:
thereby making a significant contribution to the Dutch economy. Among the innovation-driven economies in the EU-28, The netherlands is the most entrepreneurial economy in terms of new and nascent entrepreneurship according to the Global Entrepreneurship Monitor.
A recent success in fostering entrepreneurship: Recent successes by The netherlands in improving the conditions for innovation-driven entrepreneurship are the top sector approach, valorization grants and an action plan for skilled technical workers.
Fostering Innovation-driven Entrepreneurship in Europe 41 Bohuslav Sobotka Prime minister of the Czech republic The role of innovation-driven entrepreneurship in your economy:
Innovation-driven entrepreneurship is one of the most important drivers for sustainable development of the economy in the Czech republic.
e g. for academic spin-offs. 42 Enhancing Europe's Competitiveness David Willetts Minister of state for Universities and Science of the United kingdom The role of innovation-driven entrepreneurship in the economy:
Over time, on an economy-wide scale, innovation has contributed as much as 70%to the UK's economic growth.
including the economy, taxation, regulations, competition and cash-flow issues. There were also a number of barriers that innovative SMES experience over and above those that do not innovate:
as an example, how the advent of the sharing economy (in the form of Airbnb and Uber) is challenging government
in European economies. Understanding, anticipating and shaping these shifts will be critical to ensuring that Europe prepares ecosystems ready for the next decade of breakthrough innovation.
Today, with the need to invest in innovative economies and innovative governments higher than ever,
businesses and citizens would best fit in a future global knowledge economy. For example, a key issue to be considered in such a context is that of talent:
This has continued the trend of large, developing economy multinationals finding advantage in harvesting opportunities in diverse parts and corners of their economies.
or are impacted by convergence issues. 54 Enhancing Europe's Competitiveness Realizing scale economies will have to happen through shared infrastructure systems with other corporations
The achievement of scale economies across these different parts of the Coral reef and the different convergence spaces will be highly challenging and non-trivial.
Adecco, INSEAD, Human Capital Leadership Institute (2013), Global Talent Competitiveness Index Barclays report, written by The Economist Intelligence Unit (2014), Start me up:
Faxander, President and Chief executive officer, Sandvik, Sweden Blair L. Fortner, Global Chief Economist, Monsanto Company, USA Hamish Forsyth
Communication Networks, Content and Technology, Belgium António Pires de Lima, Minister of Economy of Portugal Benoit Potier, Chairman and Chief executive officer, Air liquide, France Subramanian Rangan
Lead Economist, Office of the Chief Economist for the Europe and Central asia Region, World bank, WASHINGTON DC Maria Fanjul, Chief executive officer, entradas. com, Spain Charles Grant, Director, Centre
ESADEGEO-Center for Global economy and Geopolitics, Spain Mark Spelman, Global Managing director, Accenture, United kingdom Pawel Swieboda, President, demoseuropa-Centre for European Strategy Foundation, Poland
Nicholas Davis, Director, Head of Europe Caroline Galvan, Economist, Global Competitiveness and Benchmarking Network Peter Gratzke, Senior Project Associate, Investors Industries Team Thorsten
Acknowledgements 5 Executive Summary 7 1. Introduction 8 2. City Competitiveness in the Global economy: Megatrends 12 3. City Competitiveness:
and How to Reform 56 Members of the Global Agenda Council on Competitiveness 2012-2014 As leaders look for ways to make their economies more competitive
and Clément Gignac, Chief Economist and Senior vice-president, Industrial Alliance Insurance and Financial services, Canada. Special thanks go to Margareta Drzeniek Hanouz, Head of the Global Competitiveness team,
and Clément Gignac, Senior vice-president and Chief Economist, Industrial Alliance Insurance and Financial services, Canada as well as Council member Orlando Ayala, Chairman of Emerging Markets, Microsoft Corporation, USA, sparked the idea
and Hong kong SAR's mass transit system. 4. Soft connectivity Soft connectivity, the city's social capital, is as important as hard connectivity in the 21st century's knowledge economy
such as the Global City Competitiveness Index of the Economist Intelligence Unit, A t. Kearney's Global Cities Index, Citylab's Global Economic Power Index and the Mori Memorial Foundation
and can be useful to city leaders elsewhere. 8 A Report of the Global Agenda Council on Competitiveness 2. City Competitiveness in the Global economy:
David Ricardo, in a letter to his fellow economist Thomas Robert Malthus, spoke of the wealth and poverty of nations the grandest of all questions in political economy.
Jane Jacobs. More than ever, cities are the lifeblood of the global economy. Their competitiveness increasingly determines the wealth and poverty of nations, regions and the world.
For most people, the map of the global economy that comes to mind is of nation states interconnected through flows of trade, capital, people and technology.
An alternative map of the global economy comes to mind: one of cities connected across land borders, seas and oceans through the exchange of goods and services, foreign direct investment, migrant and short-term workers,
The world economy, spurred by urbanization trends, is shifting south and east, particularly to Asia.
and investment that could add $30 trillion annually to the world economy. By 2025, these cities will be home to 235 million upper-middle-class households with an annual income of more than $20,
will based a city global economy pull up non-urban hinterlands, or will cities become rich enclaves surrounded by marginalized rural areas?
Productivity is the efficiency with which an economy uses available inputs to produce outputs; it determines the rate of return on investments,
In other words, a more competitive economy is likely to grow faster over time, and productivity-based competitiveness sets an economy's level of prosperity.
Productivity has to be maintained sustainable that is beyond the short term and in a way that reconciles economic, environmental and social goals.
Foreign economic policies that position a city in the global economy through international trade, finance, foreign direct investment (FDI), foreign workers and tourism, all as part of clusters of economic activity linked to global value chains 3
when Pittsburgh was named the most liveable city in the United states by the Economist Intelligence Unit.
balanced and resilient economy, making Pittsburgh a model for economic, environmental and quality-of-life transformation. Beyond the previously mentioned success in advanced manufacturing,
Energy has long been an important part of the city's economy, but that may be becoming less true.
and more to do with a concerted effort to diversify its economy. A number of actions can be credited with causing the city's strong performance.
biotech has the potential to cause positive ripples across the city's economy. St louis'new competitiveness has gone not unnoticed.
Thanks to the Arch Grants and other pro-tech incentives, St louis has established a diversified and forward-looking economy against
which together create an urban centre that supports the drive towards a knowledge-based society and economy.
From the Command Economy to Knowledge-Intensiveness and Cultural Flair13 Located in the southwestern corner of Poland,
since itself by focusing on culture and investing in a greener economy. Unlike other major cities that chose iconic cultural attractions (Bilbao and the Guggenheim Museum;
This produced a bottom-up set of proposals for the future development of the city, around a more innovative economy;
then there is virtually no city in the world that cannot benefit from a rethinking of its vocation in a newly interconnected world of the 21st-century knowledge economy. 22 A Report of the Global Agenda Council on Competitiveness Casablanca, Morocco:
The economy of the city, however, began witnessing challenges after two decades, as the system was highly informal
It shaped the city's economy and boosted the commercial as well as the industrial sector. This enabled the arrival of major domestic and international players who started setting up their bases in and around the city.
boasts industry and services sectors that are 36.4%and 55.8%,respectively, of the region's economy.
Agriculture accounts for only 7. 8%.Metro Cebu departed long ago from being a predominantly agrarian economy to one that is mostly driven by business process outsourcing (BPO), tourism and real estate. As of 2013,
and foreign visitors collectively are the fastest-growing contributors to the local economy. Cebu is now getting more attention as a gateway to the south.
and will remain overwhelmingly a phenomenon of emerging economies; and second, an emphasis on second-tier cities rather than national or commercial capitals in order to get a better sense of emerging issues for city competitiveness.
a previously successful city in the 20th-century industrial economy that fell into deep decline, but is now attempting a turnaround Bilbao (Spain) high-income;
and West that enabled the city to build an economy beyond hydrocarbon, and to attract inhabitants from all over the world.
such as the pace of growth, a possible real estate bubble and dependence on Gulf-oilbased economies.
It is globalized the most economy of significant size in the world. Trade in goods and services is about 400%of GDP.
The city state has taken maximum advantage of the global economy at every stage of its modern development
the global economy is its lifeblood it disciplines the city's institutions and policies like nothing else,
and the economy suffered. That changed when Lee kuan yew took power, and especially when Singapore became fully independent in 1965 after a brief union with Malaysia.
as was the case in other East-Asian miracle economies. But the latest phase has seen highly unequal growth.
In the economy, the state's reach extends far, through government-linked companies (GLCS), sovereign wealth funds (Temasek, the holding company for GLCS;
A weak domestic private sector is the Achilles heel of the economy. Small and medium-sized enterprises (SMES) account for half of GDP and the bulk of employment.
Without major reform of the public sector's involvement in the economy it is questionable whether the domestic private sector will ever be vibrant and innovative.
But the government's overall record puts it in good stead to tackle at least some of these policy challenges though it is unlikely to structurally alter the role of the public sector in the economy. 3. Hard connectivity Singapore has a strong, consistent emphasis on core physical infrastructure.
Twenty-first-century globalization also brings wider inequality, especially for a small, highly open economy, and even more so for a global city.
That is a far better way to improve sluggish productivity than government micro-interventions in the economy.
and less on being a direct player or micromanager in the economy. Lessons for other cities The Singapore story has manifold lessons for other cities.
this dislocation continues to influence the region's economy. Depopulation: Racial tensions flared in the 1960s
The collapse of the US national housing market in 2008 and the weakness of the national economy hit Detroit especially hard, further eroding property values and increasing unemployment,
Many businesses and policy-makers are determined now to diversify the region's economy as they simultaneously celebrate the automotive sector's rebound.
who desire and deserve a prosperous economy, high-performing schools and a vibrant community life.
Modernize and internationalize the country and its economy at the service of well-being. The strategy included the four-part taxonomy:
through a unique mindset of conceiving a service economy, avoiding manufacturing and asking governments to stop applying industrial policies.
Cluster its economy: breaking classic swaps and interrelating companies, technological centres, universities, financial institutions and governments for competitiveness, with more than 2,
000 leaders working steadily around a dozen clusters in the process Internationalize its economy: attracting foreign investment
The desired international connectivity, the economic modernization and its global commitment, the attraction of talent and generation of a competitive economy are the priority services of citizens themselves and of Basque society.
to an outward economy with the comparative advantage that traditional manufacturing industries provided. Successful times decline into a deep common crisis. Similar approaches may exist to overcome such a crisis,
and vibrant city has taken advantage of opportunities to build a knowledge-based economy relevant to high-value international supply chains,
Nuevo León has historically been one of the most dynamic economies in Mexico, partly due to the geographical advantage of being 200 km south of the US border (Texas). Its location,
After WORLD WAR II, Mexico implemented a closed-economy model in which fiscal and capital incentives were provided to promote
In order to play a relevant role in the emerging global knowledge-based economy, the economic and social transformation of the city became a main priority.
In an effort to promote Monterrey's transformation into a knowledgebased economy three projects have been launched in the last 20 years,
the state of Nuevo León reported four key sectors that drive the economy: construction, automotive, machinery and equipment,
a growing understanding that the city needs to productively engage in the global knowledge-based economy,
Will Monterrey develop the capabilities to productively engage in the innovation and knowledge-based economy of the world?
not only on how a city in a developing country can build a dynamic and vibrant economy,
The city is located in one of the most active areas of the Chinese economy, the Yangtze river Delta region.
Like other cities in China, Ningbo's story of success happened in the transition period of China, from planned economy to market economy.
one of the fastest-growing states in India and one that The Economist described as the Guangdong of India.
has seen its fortunes revive sharply since the opening up of the Indian economy in 1991,
Nonetheless, India was just emerging from its cocoon as a protected economy, with the economic reforms of 1991 exposing it not only to trade and investment flows,
and has had an enormous, positive impact on the economy as well. In the two years after the turnaround began,
Relatively modest oil revenues were invested wisely to diversify the economy. His son, Sheikh Mohammed, enlarged this vision
Manisa to diversity its economy. Ahmedabad and Hyderabad have done so in automobile manufacturing and IT services, respectively.
one of the world's leading urban economists, argues strongly for urban density. Concentrated building in city centres is good for business and innovation, for the arts and culture,
Vital for Cities in the 21st-Century Knowledge Economy In the industrial age, the hard connectivity of canals, ports, roads, railroads, cold chains, transport hubs
but in the knowledge economy of the 21st century, soft connectivity is equally so. As the city's social capital, soft connectivity refers to the knowledge,
Visiting Associate professor, Lee kuan yew School of Public Policy, National University of Singapore, Singapore Vice-Chairs Clément Gignac, Chief Economist and Senior vice-president, Industrial Alliance Insurance
, Regional Economist, African Development Bank, Côte d'ivoire Janamitra Devan, Independent Adviser, Strategy and Leadership, USA Gao Changlin
and a Member of the Global Agenda Council on Competitiveness. 4. This case study was written by Jose Antonio Torre Medina, Undersecretary for Competitiveness and Business Regulation, Ministry of Economy of Mexico (2011),
This case study was written by Margareta Drzeniek Hanouz, Director and Lead Economist, Global Competitiveness and Benchmarking Network, World Economic Forum. 14.
Overtext Web Module V3.0 Alpha
Copyright Semantic-Knowledge, 1994-2011