EFFECTIVENESS OF THE INSTITUTIONAL SYSTEM RELATED TO THE POTENTIAL OF THE KNOWLEDGE BASED ECONOMY (Efektywnosc systemu instytucjonalnego a potencjal gospodarki opartej ma wiedzy)
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The aim of this paper is to analyze the relationship between utilization of the potential of new global knowledge based economy and the level of effectiveness of the institutional system in highly developed countries. The empirical study was based on the idea that concentration of government action on long term systemic arrangements leading to an effective institutional order creates positive conditions for taking advantage of the new global knowledge based economy. On the other hand, development of the new global knowledge based economy makes the system activities of government more significant. In order to verify that thesis a taxonometric method of synthetic measure of development was used. The OECD countries were studied in the years 2001-2005. As a result of the research the thesis of the study was not rejected.
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