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TERRITORIAL CAPITAL AND REGIONAL GROWTH: INCREASING RETURNS IN KNOWLEDGE USE
Author(s) -
CAPELLO ROBERTA,
CARAGLIU ANDREA,
NIJKAMP PETER
Publication year - 2011
Publication title -
tijdschrift voor economische en sociale geografie
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.766
H-Index - 55
eISSN - 1467-9663
pISSN - 0040-747X
DOI - 10.1111/j.1467-9663.2010.00613.x
Subject(s) - productivity , knowledge production , knowledge economy , economic geography , capital (architecture) , empirical evidence , proposition , economics , human capital , production (economics) , space (punctuation) , empirical research , knowledge management , microeconomics , economy , geography , economic growth , philosophy , linguistics , archaeology , epistemology , computer science
Knowledge drives the growth of nations and regions in a competitive space‐economy. Hence, we would expect a strong correlation between investments in R&D, knowledge and learning processes, on the one hand, and productivity increases, on the other. However, the empirical evidence shows consistent discrepancies between knowledge inputs and economic performance across geographical units. This paper addresses this intriguing issue at the regional level, by highlighting theoretically and empirically the strategic importance played by intangible elements as part of “territorial capital” in mediating between knowledge production and regional growth. The main proposition of the paper, subject to empirical testing, is that intangible elements as part of territorial capital magnify the contribution of knowledge by determining the formation of increasing returns to knowledge exploitation.