How knowledge base factors change natural resource curse to economic growth?

Sepehrdoust, Hamid; Shabkhaneh, Saber Zamani

doi:10.1016/j.techsoc.2018.05.001

Cited by 22 publications

(3 citation statements)

References 18 publications

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“…Production of any product requires specific knowledge. The more diverse a country's production means the more knowledge and accumulated knowledge there is (Sepehrdoust and Zamani Shabkaneh, 2018). In other words, the index of economic complexity can be used as a measure of a society's knowledge and skill level, and one may conclude that if a product requires a certain type of knowledge and skills, then countries that possess the knowledge and skills needed to produce high-tech products having developed economy (Bahar et al., 2014).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

The knowledge-based products and economic complexity in developing countries

Sepehrdoust

Davarikish

Setarehie

2019

Heliyon

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Economic growth and development requires greater access to global markets, while developing countries face many challenges in terms of trade liberalization. That is why most of the countries relying on natural income sources have not been able to improve their indicators of economic complexity and high technology utilization. The purpose of this study was to investigate the impact of trade liberalization on the economic complexity as a strategy adopted by the Middle East developing economies during the period 2002–2017; using the panel vector auto regression model (PVAR). Immediate reaction test results show that, over a period of 10 years, economic complexity increases with positive shock from variables of trade freedom, foreign direct investment and gross fixed capital formation, but in the long run, the effect of imports of intermediate and capital goods is initially increasing and, after a short period, has a positive downward effect. In general, the results of this study recommend that; in order to achieve a proper share of export revenues in economic growth, the Middle East countries need to strengthen the foreign trade economy through trade liberalization and experience the impact of imports of medium and final capital goods, gross capital formation, and foreign direct investment in the index of economic complexity.

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Section: Theoretical Backgroundmentioning

confidence: 99%

The knowledge-based products and economic complexity in developing countries

Sepehrdoust

Davarikish

Setarehie

2019

Heliyon

Self Cite

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“…Earlier studies have suggested that the development of these two sectors of the financial system each has a statistically significant effect on economic growth in emerging and developing economies such as SSA. (Marcelin and Mathur, 2016;Sepehrdoust & Shabkhaneh, 2018;Dumičić, 2019;Marfatia et al, 2020). Consistent with these findings, developing countries have tended to focusing on modernizing and liberalizing their financial systems to allow for greater private sector participation (Fowowe, 2013;Shijaku and Kalluci, 2013; .…”

Section: Introductionmentioning

confidence: 92%

Impact of Fiscal Policy on Financial Development in Sub-Sahara Africa

Ricky-Okine¹,

Apreku–Djan²,

Akrofi³

et al. 2023

IJARAFMS

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Economic theory suggests that fiscal policies affect economic growth with extant studies proving this relationship in the context of countries in sub-Sahara Africa (Durusu-Ciftci et al., 2017). However, few studies have examined how fiscal policy impacts financial development leading to economic growth. The study, therefore, sought to examine how fiscal policies affect financial sector development in sub-Sahara Africa and to provide empirical support or otherwise to the conclusions of theory. Adopting the Fixed Effect (FE) estimator, the study on one hand revealed a positive significant relationship between fiscal policy and financial development and that Fiscal Policy influences financial development. Hence, the study showed that the implementation of fiscal policies by governments in SSA directly and positively leads to the financial sector development; thus leading to economic growth. However, the effect of fiscal policy on the financial development does not significantly affect economy growth compared as expected. On policy direction, government should focus on expanding the tax net as a way to increase its revenue and also to stimulate financial development. Again, policies towards financial inclusion should be aggressively pursued in SSA as these have practical implications for financial sector growth.

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“…Thus, the country's economic growth relies greatly on capital accumulation and cheap labor, which can lead to resource curse, and "resource poisoning" -adverse economic and social effects of excess investment poured into society without considering resource abundance (Nguyen, 2013;Vuong & Napier, 2014). Building a knowledge-based economy is a prominent way to avoid the adverse effects of the resource curse (Entele, 2021;Sepehrdoust & Shabkhaneh, 2018;Vuong & Napier, 2014). Moreover, a recent review suggests that entrepreneurship studies in Vietnam mainly pay attention to practical aspects of entrepreneurial activities (e.g., determinants of firm performance) and neglect the cognitive and theoretical aspects of entrepreneurship, which are pivotal topics of global entrepreneurship research.…”

Section: Introductionmentioning

confidence: 99%

How does the knowledge accumulation process affect Vietnamese entrepreneurs’ success likelihood?

Nguyen¹,

Quang-Loc²,

Nguyễn³

et al. 2023

Preprint

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The nationwide economic reform in 1986 transformed Vietnam from a centrally planned economy to a socialist-oriented market economy. Entrepreneurs and entrepreneurial spirits within the populace are suggested to fuel the structural changes. Despite the importance of entrepreneurship in Vietnam’s economy, studies in Vietnam mainly pay attention to the practical aspects of entrepreneurial activities and neglect the cognitive and theoretical aspects of entrepreneurship. Thus, the current study employs the information-processing perspective of the Mindsponge Theory to explore how entrepreneurs’ knowledge accumulation can affect their perceived likelihood of business success. Bayesian analysis indicates that business-related experience positively affects entrepreneurs’ business success likelihood. Greater willingness/readiness to transform thinking, acting, and beliefs can improve the business success of entrepreneurs who study others’ failures carefully. However, for entrepreneurs who perceive learning from others’ failures as unnecessary, higher willingness/readiness to transform diminishes their chance of success. Based on these findings, we recommend Vietnamese entrepreneurs accumulate knowledge through experience, learning, and an open mind for better decision-making and innovation creation capabilities. However, the learning process should be selective.

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How knowledge base factors change natural resource curse to economic growth?

Cited by 22 publications

References 18 publications

The knowledge-based products and economic complexity in developing countries

The knowledge-based products and economic complexity in developing countries

Impact of Fiscal Policy on Financial Development in Sub-Sahara Africa

How does the knowledge accumulation process affect Vietnamese entrepreneurs’ success likelihood?

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