The European Union has reached a critical juncture in dealing with the fallout from the 2008 financial meltdown that started in the USA and spread to engulf banks and the financial markets of Europe. The ensuing recession or stagnation in many member countries was compounded by austerity...

It is generally acknowledged that employment in our economies is increasingly dependent on services. European countries are continuing their gradual move towards a service-based economy with today nearly 70% of the total labour force being employed in service activities. It is also generally...

Recent advances in the economics of knowledge highlight the key role of pecuniary knowledge externalities in explaining the system dynamics of total factor productivity growth. When non-exhaustible technological knowledge is an input both in the production of new goods and of further knowledge,...

Pecuniary externalities are crucial in shaping the strategies to value the distinctive competences and the economic success of innovative firms. The analysis of conditions for localized knowledge appropriation and exploitation makes it possible to identify idiosyncratic production factors. The...