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Knowledge economy gaps, policy syndromes and catch-up strategies
- Knowledge economy gaps, policy syndromes and catch-up strategies
- Asongu, Simplice A
- Global Development Network
| Title |
Knowledge economy gaps, policy syndromes and catch-up strategies
Similar Titles
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|---|---|
| Material Type | Articles |
| Author(English) |
Asongu, Simplice A |
| Publisher |
[New Delhi] : Global Development Network |
| Date | 2014 |
| Pages | 58 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Link |
| Original Format | |
| Subject | Economy < Economic Administration Social Development < General |
| Holding | Global Development Network |
| License |  |
Abstract
Africa’s overall knowledge index fell between 2000 and 2009. South Korea’s economic miracle is largely due to a knowledge-based development strategy that holds valuable lessons for African countries in their current pursuit towards knowledge economies. Using updated data (1996-2010), this paper presents fresh South Korean lessons to Africa by assessing the knowledge economy (KE) gaps, deriving policy syndromes and providing catch-up strategies. The 53 African frontier countries are decomposed into fundamental characteristics of wealth, legal origins, regional proximity, oil-exporting, political stability and landlockedness. The World Bank’s four KE components are used: education, innovation, information & communication technology (ICT) and economic incentives & institutional regime. Absolute beta and sigma convergence techniques are employed as empirical strategies. With the exception of ICT for which catch-up is not very apparent, in increasing order it is visible in: innovation, economic incentives, education and institutional regime. (The rest omitted)
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