Title: Toward a knowledge-based economy: evidence from the MENA region
Authors: Carole Ibrahim
Addresses: School of Business Administration, American University in Dubai, Dubai, UAE
Abstract: This study aims to investigate the relationship between education, innovation, and technology, which are the main pillars of a knowledge-based economy, and the economic performance in the MENA region. The study uses a vector autoregressive (VAR) approach to examine the short-run dynamics between the variables spanning the period 2007-2017. The results suggest that an improvement in education, innovation, and technology increases economic development in MENA countries. Thus, policymakers in these developing countries should shift their economies toward the knowledge-based economy by enhancing the quality of education and by increasing their expenditures on research and development (R&D) to improve innovation and competitiveness. Moreover, policymakers should facilitate the transfer and adoption of new technologies within different industries and businesses.
Keywords: education; innovation; technology; knowledge economy; economic growth; competitiveness; MENA region; VAR; vector autoregressive.
International Journal of Competitiveness, 2021 Vol.2 No.1, pp.33 - 41
Received: 22 May 2019
Accepted: 29 Dec 2019
Published online: 08 Jun 2021 *