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Knowledge economy gaps, policy sysdromes and catch-up strategies : Fresh South Korean lessons to Africa
- Knowledge economy gaps, policy sysdromes and catch-up strategies
- Asongu, A. Simplice
- Global Development Network; Korea International Cooperation Agency
| Title |
Knowledge economy gaps, policy sysdromes and catch-up strategies
Similar Titles
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|---|---|
| Sub Title | Fresh South Korean lessons to Africa |
| Material Type | Thesis |
| Author(English) |
Asongu, A. Simplice |
| Publisher |
[New Delhi],[India]; [Seoul],[South Korea] : Global 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.
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