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Abstract
The article introduces an operational definition of quaternary industries as knowledge-based services: universities and colleges, research and development (R&D) and knowledge-based producer services (consultants). This sector has displayed rather strong growth during the period 1970–1985. During the 1970s there was a weak tendency towards growth in peripheral regions, but in the 1980s the trend has been more core-oriented, especially the R&D sector. The consultant group shows a dualistic pattern with peripheral growth in elementary services (information services) and centralizing growth in advanced services (knowledge services). On the basis of these empirical findings, the article discusses traditional location theory which emphasizes production costs, and a possible supplement which emphasizes transaction cost and unique factors behind the location.