The “knowledge economy” (KE) is a concept of economic development, in which innovation and access to information drive productivity growth. New trends, such as the Internet of Things or digitalisation, are examples of the transition towards to the knowledge economy. Building the key pillars required to stimulate knowledge-economy development is therefore central to achieving long-term competitiveness.
To measure KE development, the European Bank for Reconstruction and Development (EBRD) has constructed the EBRD Knowledge Economy Index, spanning 46 economies – 38 where the EBRD invests and eight comparators.
In this paper, we first present the structure and methodology of the EBRD Knowledge Economy Index, then analyse the 2018 results and the changes between 2011 and 2018.