The Determinants of Knowledge‑based Economy Development at a National Level: A Conceptual Model driven from KBE Theoretical Paradox and Advanced Practices

Authors

  • Sara A. Al-Maadeed
  • Vishanth Weerakkody

Keywords:

Knowledge-based Economy Model, Knowledge-based Economy Main Determinants, Enabler, Sweden, Finland, Denmark, Strategic Management, Knowledge Management, Cognitive Leadership, Knowledge based economy’s theoretical paradox.

Abstract

Abstract: Knowledge‑based economy has recently gained an increasing attention in developed countries, however, understanding the main determinants of KBE development at a national level appeared to be neglected. Therefore, this paper tends to develop a conceptual model that addresses the main determinants of KBE development at a national level in which could accelerates the growth of national asset value and leads to national competitive position. Therefore, a systematic literature review was conducted to learn from advanced economies’ practices in KBE development and highlight KBE main pillars, drivers, and process of KBE function. The review reveals that :(A) development of human capital and maintaining the value of knowledge asset are the ultimate function(s) of KBE, (B) Learning, education, ICT and innovation are the main pillars of KBE, (C) knowledge management is the process underpinning KBE function, and (D) beliefs and intentions are the main endogenous drivers of individual’s commitment to KBE ultimate functions. The findings show that the determinants of KBE development at a national level are: (1) the consideration of KBE characteristics, (2) the consideration of country position, and (3) the consideration of effective knowledge management process that acknowledges KBE function(s), however the cognitive leadership is the enabler to achieve KBE ultimate function via its main determinants. The conceptual model proposed in this paper outlines KBE main determinants and enabler to guide practitioners and decision makers in developing KBE framework at a national level.

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Published

1 Dec 2016

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Section

Articles