Knowledge-Based Regional Economic Growth: The EU Perspective

The purpose of this paper is to address the research gaps by conducting an empirical analysis of the relationship between variables determining Knowledge-Based Economies (KBEs) and GDP growth within the regions of the European Union at the NUTS 2 level. Findings indicate that gross expenditure on research and development and employment in the knowledge-intensive sector are positively associated with gross domestic product per capita at the regional level. Additionally, this paper shows evidence that innovation does not tend to be concentrated in regions with higher student numbers, which were used as a proxy for the concentration of research and educational institutions.