%0 Journal Article
	%A Mohammad Ali Molaei
	%D 2010
	%J International Journal of Industrial and Manufacturing Engineering
	%B World Academy of Science, Engineering and Technology
	%I Open Science Index 42, 2010
	%T A New Measurable Definition of Knowledge in New Growth Theory
	%U https://publications.waset.org/pdf/3150
	%V 42
	%X New Growth Theory helps us make sense of the
ongoing shift from a resource-based economy to a knowledge-based
economy. It underscores the point that the economic processes which
create and diffuse new knowledge are critical to shaping the growth
of nations, communities and individual firms. In all too many
contributions to New (Endogenous) Growth Theory – though not in
all – central reference is made to 'a stock of knowledge', a 'stock of
ideas', etc., this variable featuring centre-stage in the analysis. Yet it
is immediately apparent that this is far from being a crystal clear
concept. The difficulty and uncertainty of being able to capture the
value associated with knowledge is a real problem. The intent of this
paper is introducing new thinking and theorizing about the
knowledge and its measurability in new growth theory. Moreover the
study aims to synthesize various strain of the literature with a
practical bearing on knowledge concept. By contribution of
institution framework which is found within NGT, we can indirectly
measure the knowledge concept. Institutions matter because they
shape the environment for production and employment of new
knowledge
	%P 1040 - 1044