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5 KNOWLEDGE BASED ECONOMY AND SOCIETY (KBE/S) FRAMEWORK AND INDICATORS

The ABS electronic product Measures of a Knowledge-based Economy and Society, Australia published in September 2003 presents indicators for the three core dimensions of the KBE/S framework. Many indicators have since been updated as new source data became available.

The human capital indicator, for the 'Stock of skilled people' characteristic, Main field of highest non-school qualification by labour force status, now has 2003 data. The indicator shows that 33% of persons whose highest non-school qualification (above primary and secondary level) was in the field of health were employed part-time. Females were more likely than males to be employed part-time regardless of their main field of qualification.

Indicators for the human capital characteristic 'Flow of skilled people' have also been updated including, Participation in secondary and tertiary education, proportion of relevant age group. The proportion of higher education students of all people aged 15-24 participating in education dropped slightly from 20% in 2002 to 19% in 2003.

Information and communications technology dimension indicators which have been updated include those using data from the Internet Activity survey and the Business Use of Information Technology survey. Indicators relating to household use of information technology have also been updated.The indicator Adults accessing the Internet shows that 84% of people in the 18–24 year age group accessed the Internet in 2002.

Innovation and entrepreneurship dimension indicators with data sourced from the Research and Experimental Development Businesses, Australia (cat. no. 8140.0), have been updated. The indicator Total R&D expenditure by sector of performance as a proportion of GDP was updated to include 2001–02 data. Business expenditure on research and experimental development (BERD) for 2001–02 was 0.78% of GDP.

The indicator Value of venture capital drawdowns has also been updated with latest available data. The Venture Capital survey investigates the amount of commitments by investors to venture capital funds and separates this into those funds that have been drawndown from investors and the unused commitment yet to be called on. The value of committed funds drawn down by investors at 30 June 2003 was $4.8b an increase of 10% on the year before ($4.4b at June 2002).

A new feature, has been included in the KBE/S product. This will provide a link to articles relevant to KBE/S issues. The first two articles have been published in other ABS products and this method is used to bring them to the attention of KBE/S clients:

• Employment in information and communication technology
• Education exports - participation in education: overseas students.