THE KNOWLEDGE-BASED ECONOMY: TRENDS AND IMPLICATIONS

              Lect. univ. dr. Maria-Cristina ŞTEFAN, crys07stefan@yahoo.com
                              Universitatea Valahia din Târgovişte
                               Facultatea de Ştiinţe Economice
                                  Ec. drd. Corneliu ŞTEFAN
                                Consiliul Judeţean Dâmboviţa


       Abstract: The economies of the developed countries are increasingly based on knowledge
and information. Knowledge is now recognised as the driver of productivity and economic
growth, leading to a new focus on the role of information, technology and learning in economic
performance. The term knowledge-based economy stems from this fuller recognition of the place
of knowledge and technology in modern economies.
    This analysis is increasingly directed to understanding the dynamics of the knowledge-based
economy and its relationship to traditional economics, as reflected in new growth theory. The
growing codification of knowledge and its transmission through communications and computer
networks has led to the emerging information society.

       Key words: knowledge, knowledge based economy, traditional economy
       JEL code: A10