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Knowledge economy gaps, policy sysdromes and catch-up strategies : Fresh South Korean lessons to Africa

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  • Knowledge economy gaps, policy sysdromes and catch-up strategies
  • Asongu, A. Simplice
  • Gobal Development Network; Korea International Cooperation Agency


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Title Knowledge economy gaps, policy sysdromes and catch-up strategies
Similar Titles
Sub Title

Fresh South Korean lessons to Africa

Material Type Theses
Author(English)

Asongu, A. Simplice

Publisher

[New Delhi],[India]; [Seoul],[South Korea] : Gobal Development Network; Korea International Cooperation Agency

Date 2015-11
Series Title; No Working paper series / no.89
Pages 63
Subject Country India(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy
Government and Law < Governance
Holding GDN
License

Abstract

Africa’s overall knowledge index fell between 2000 and 2009. South Korea’s “economic miracle” was 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 knowledge economy (KE) gaps, deriving policy syndromes, and providing catch-up strategies. We decompose the 53 peripheral African countries based on several fundamental characteristics: wealth, legal origins, regional proximity, oil-exporting, political stability and state of “landlockedness”. We use the World Bank’s four KE components: education, innovation, information & communication technology (ICT, economic incentives and institutional regime). We employ absolute beta and sigma convergence techniques as empirical strategies. With the exception of ICT, for which “catch-up” is not very apparent, we observe African catch-up by categories (in increasing order) in innovation, economic incentives, education and institutional regime.