Knowledge-based Economy (KBE) Frameworks and Empirical Investigation of KBE Input-output Indicators for ASEAN

Afzal, Munshi Naser İbne; Lawrey, Roger

doi:10.5539/ijef.v4n9p13

Cited by 8 publications

(8 citation statements)

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“…The author analyses the role of knowledge in the process of transformation of the Korean economy towards a new economy based on knowledge. In accordance with the research of Afzal and Lawrey (2012), and studies of Derek, Chen and Dahlman (2005), the authors point to the significance and role of knowledge in long-term economic development. Authors refer to knowledge as the key initiator of economic growth and that development in education, innovation, information and communication technologies depends on economic and institutional surroundings.…”

Section: Literature Overviewsupporting

confidence: 69%

Economic assessment of significance of education in the development of a knowledge-based economy

Ignjatijević¹,

Cogoljević²,

Milenković³

2018

Industrija

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Research subject is an analysis of the role of education in development of a country, with a goal to look at all differences in views of examinees employed in the economy, educational institutions and students on the role of the government, economy and educational institutions in economic development. Research was conducted in Serbia, Croatia and Macedonia in 2014, by using a survey method. Research results have shown that there is a difference in opinions about the role of the public and private sector in education, depending on where examinee lives, while on the other hand difference in employment is not affecting the difference in their views. When the role of educational institutions and education itself is in question, research showed that there are no differences between Serbian, Croatian and Macedonian examinees. Although there is a difference between examinees according to their employment and it's the biggest between students, while there is no big difference between employed examinees.

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Section: Literature Overviewsupporting

confidence: 69%

Economic assessment of significance of education in the development of a knowledge-based economy

Ignjatijević¹,

Cogoljević²,

Milenković³

2018

Industrija

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“…In an earlier paper we proposed a framework that clearly distinguishes input-output indicators of a knowledge-based economy under the four core dimensions and attempted to adapt them in a practical policy oriented way for an economy that was attempting to transform from a resource-based to a knowledge-based economy Lawrey 2012a, see also Lee, 2001;Tan, Hooy, Manzoni &Islam 2008 andKarahan, 2011). In a subsequent paper we used the Beta coefficient technique to rank the most important KBE input factors to KBE output factors and examine why the resultant ranking varies across the ASEAN-5 countries namely Indonesia, Malaysia, Singapore, the Philippines and Thailand (Afzal and Lawrey 2012b). This paper extends previous research by assessing the relative efficiencies with which the ASEAN-5 countries transform KBE inputs into KBE outputs over time using Data Envelopment (DEA) Window Analysis.…”

Section: Introductionmentioning

confidence: 81%

A Measurement Framework for Knowledge-Based Economy (KBE) Efficiency in ASEAN: A Data Envelopment (DEA) Window Approach

Afzal¹,

Lawrey²

2012

IJBM

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The objective of this paper is to assess the relative efficiencies of ASEAN-5 countries in their development of knowledge-based economies (KBEs) during the period 2005-2010. The KBE concept was first used by the Organization for Economic Co-operation and Development (OECD) describing it as an economy which is directly based on the production, distribution and use of knowledge and information. Subsequently, the Asia Pacific Economic Cooperation forum (APEC) and the World Bank Institute (WBI), along with the OECD, extended the concept and developed frameworks to compare the status of the knowledge base of different economies. These frameworks identify four core dimensions: knowledge acquisition, production, distribution and utilization, and use many structural and qualitative variables in their analysis. But none of the current methodologies explicitly divide the KBE indicators under these four core dimensions or measure the efficiency with which knowledge inputs are transformed to knowledge outputs. This paper attempts to fill the gap in existing literature by building a policy-focused KBE framework, selecting appropriate indicators from the existing OECD and WBI KBE frameworks and assessing the relative input-output efficiencies of the ASEAN-5 countries in the development of their KBEs over time. For this purpose we use the linear programming application of Data Envelopment (DEA) Window Analysis. The DEA/Window scores allow the comparison of the relative performance of each country regarding each dimension of KBE. The importance of this study, however, is not so much the immediate result which highlights comparative efficiencies, but rather that DEA/Window is a workable model which can take the study of KBE further in investigating the contributory factors of KBE.

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“…Because the concept of scarcity does not exist in a knowledge-based economy, it is distinguished from the traditional economic model (Afzal and Siddiqui, 2009). The stock of knowledge is the fundamental driver of the economy in a knowledge-based economy, and it is only via this process that a country's economic development can be sustained (Afzal and Lawrey, 2012b) (see Figure 2).…”

Section: Review Of Literature and Some Secondary Datamentioning

confidence: 99%

Sectoral diversification of UAE toward a knowledge-based economy

Siddiqui

Afzal

2022

REPS

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PurposeThe purpose of this study is to look at the United Arab Emirates’ (UAE's) progress toward economic diversification and becoming a knowledge-based economy.Design/methodology/approachThe World Development Indicators (WDI) and GlobalEconomy websites provided all secondary data for this paper. The data are largely used to highlight the UAE's current level of diversification and, consequently, the atmosphere for a knowledge economy transition necessary for sustainable development. Additionally, the study conducts a nonparametric estimation using DEA to identify the condition of four variables pertaining to the UAE's knowledge economy. The Herfindahl-Hirschman index (HHI) was utilized empirically in this study to determine the current state of diversity.FindingsAccording to this research, the UAE economy was reasonably diverse until recently. The number of patents and journal papers published per resident both add to the UAE's GDP. Furthermore, the UAE's information and communication technology (ICT) exports are inconsistent; a declining trend in the number of researchers and the education sector's continuous struggles are major concerns. Furthermore, Figure 1 in the introduction reinforces this conclusion by noting that construction and building remained the greatest employer of labor throughout the time period. This is a significant finding because, as illustrated in this research, low labor force participation in the education sector, combined with lower citizen participation in advanced education in the UAE, results in low scientific research and publications, with low knowledge output as patent applications. In general, the majority of the UAE's population is expat, and the extent to which locals and expats contribute to the overall advancement of education remains an open question. According to the data envelopment analysis (DEA) model, three variables in the knowledge economy are productive, and they are economic incentive and institutional regime, innovation systems and ICT. The findings of this article will aid policymakers in the UAE, and more generally in the Gulf Cooperation Council (GCC) region, in developing more successful policies that help in the growth of a knowledge- and innovation-based economy.Practical implicationsThis study is appropriate for UAE economic policymakers to monitor the state and policies required for the UAE's transition to a knowledge economy.Originality/valueThis issue has rarely been addressed by the use of robust parametric and nonparametric processes, as well as robust data visualization tools.

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Knowledge-based Economy (KBE) Frameworks and Empirical Investigation of KBE Input-output Indicators for ASEAN

Cited by 8 publications

References 12 publications

Economic assessment of significance of education in the development of a knowledge-based economy

Economic assessment of significance of education in the development of a knowledge-based economy

A Measurement Framework for Knowledge-Based Economy (KBE) Efficiency in ASEAN: A Data Envelopment (DEA) Window Approach

Sectoral diversification of UAE toward a knowledge-based economy

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