Knowledge‐driven development indicators: still an eclectic panorama

Abstract

PurposeThe purpose of this paper is to highlight that research on the measurement of key indicators that represent drivers of the knowledge economy still spans several different, although interrelated, directions. The results of this review call for further integration of metrics through cross‐disciplinary international, multinational and organizational partnerships that could reconcile and define de facto standards for the assessment of the drivers of knowledge‐based growth.Design/methodology/approachGeneral review, literature review. The paper reviews extant literature and practical experiences in knowledge‐based development assessments.FindingsThe review finds that many institutions are still adopting a variety of approaches which are difficult to reconcile. Additional coordination efforts are required to overcome contextual and non‐replicable approaches and, thus, increase standardization of metrics.Research limitations/implicationsWhile the paper discusses limitations of extant approaches, it does not build (another) alternative theoretical solution. Rather it suggests actionable strategies that require a high level of international coordination.Practical implicationsThe paper shows the path and examples of multi‐agency approach to achieve standardization.Originality/valueThe value of the paper stems from its classification and review of selected approaches both at the country and organizational level. While it is motivated by a call for integration that is not novel to the field of knowledge management, it suggests that this coordination: needs to occur simultaneously both at the country and the organizational levels, whereby country approaches could inform and drive industry approaches; and needs to leverage international coordination models such as those of international standardization bodies.