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Keywords:

  • Knowledge economy;
  • EU;
  • UK and Israel;
  • comparative study;
  • innovation;
  • regional development

ABSTRACT

This paper elaborates on the concept of ‘knowledge economy’ as a prelude to demonstrating its incidence at regional and sub-regional levels in the UK, EU and Israel. The paper shows consistencies in the incidence of knowledge economies across the countries and georegion. This is a good test of the basic methodology, which is simple, and suggests its underlying theory is robust for distinctive spaces and times. It should thus contribute to standard methodology in academic and policy environments. The future economy will be characterised by more knowledge-intensive activities, and as shown in the paper, will be a highly disequilibriated one in spatial terms. Consequently the need for counter-measures is growing in order to continuously follow up and to take the needed actions in lagging regions. This is an acute challenge for future policy, namely to correct market failure in the knowledge economy for peripheral and otherwise deprived areas.