The structural components of a knowledge-based economy
Year: 2013
Type: article
Abstract: Little to no research exists to explain the structural components associated with the successful establishment of a knowledge-based economy. Nearly all developed countries are transitioning from service-based to knowledge-based and yet how to do so effectively and efficiently remains a mystery. The purpose of this research is to address this oversight. Based upon a review of the literature, five structural components of knowledge-based economies are identified and described. The five components consist of a foundation of information and communications technology, open innovation, education, knowledge management and creativity. At the macro-level, those seeking to establish a knowledge-based economy, whether local, regional or national, will be best served by following the structural template described. Policies and procedures to foster advances in each of the structural components should be developed strategically.
Institution: University of Massachusetts Dartmouth
Language: English
Subfield: General Social Sciences
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2124203825