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©Knowledge for Development, WBI

Korea as a Knowledge Economy. Bruno A. Laporte The Knowledge for Development (K4D) Program. The World Bank. ©Knowledge for Development, WBI. Knowledge Economy Report on Korea. Korea as a Knowledge Economy: Evolutionary Process and Lessons Learned

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©Knowledge for Development, WBI

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  1. Korea as a Knowledge Economy Bruno A. Laporte The Knowledge for Development (K4D) Program The World Bank ©Knowledge for Development, WBI

  2. Knowledge Economy Report on Korea • Korea as a Knowledge Economy: Evolutionary Process and Lessons Learned • Second World Bank Institute knowledge economy report on Korea • Targeted at policymakers of developing countries • Jointly produced with the Korea Development Institute • In addition to WBI staff, 10 Korean authors from KDI, KISDI, Ewha Womens University, KEDI, STEPI contributed to the report ©Knowledge for Development, WBI

  3. Knowledge Economy Report on Korea • Why is Korea an exemplary knowledge economy? • Rapid and sustained economic growth rates over the past 45 years • Economic growth was predominantly driven by productivity growth • Utilized knowledge-based development strategies to move the economy through the various stages of economic development ©Knowledge for Development, WBI

  4. Korea - Real GDP Per Capita ©Knowledge for Development, WBI

  5. Knowledge & Economic Growth ©Knowledge for Development, WBI

  6. Knowledge Economy Framework • A Knowledge Economy • Uses knowledge as a key engine of growth • Knowledge is acquired, created, disseminated, used to enhance economic development • KE Framework • A conducive economic incentive and institutional regime • An educated and skilled labor force • An effective innovation system • A modern and adequate information infrastructure Knowledge for Development Program (K4D) 2006

  7. Interconnected Interdependent Knowledge Economy Framework Provides incentives for the efficient creation, dissemination, and use of existing knowledge Necessary for the creation and effective use of knowledge Economic and Institutional Regime Education Information Infrastructure Innovation Effective system of firms, research centers, universities that can tap into global knowledge, assimilate and adapt it and create local knowledge To facilitate the effective communication, dissemination, and processing of information

  8. Knowledge Assessment Methodology • Internet-based benchmarking tool • www.worldbank.org/wbi/kam • Developed by the K4D Program • Based on the KE framework; provides basic assessment of KE readiness • Comparisons performed on the basis of 80 structural and qualitative variables • All variables are normalized to take values from 0 (weakest) to 10 (strongest) Knowledge for Development Program (K4D) 2006

  9. KAM: Knowledge Indexes Knowledge Economy Index (KEI) Knowledge Index (KI) Economic Incentive and Institution Regime Index ICT Index Education Index Innovation Index • Tariff & Nontariff Barriers • Regulatory Quality • Rule of Law • Telephones • Computers • Internet Users • Adult Literacy Rate • Secondary Enrollment • Tertiary Enrollment • R&D Researchers • Patent Count • Journal Articles

  10. KAM: Basic Scorecard © K4D program

  11. KAM: Basic Scorecard © K4D program

  12. KAM : Knowledge Economy Index Korea KEI = 7.48 © K4D program

  13. Information Infrastructure © K4D program

  14. Policy Lessons • Knowledge-based development strategies • Leads to increased productivity • Sustained economic growth • Gradual investment in the KE pillars • Complementarities and coordination between pillars • Pace and level of investment synchronized with stage of economic development • Knowledge economic approach relevant for any stage of economic development Knowledge for Development Program (K4D) 2006

  15. Policy Lessons • Market-Based Approach • Necessary for competitive forces that induce efficiency • Successful government policies complemented and facilitated the functioning of the market • Export-led industrialization • Korean industries had to invest in R&D to improve productivity to compete in the global market Knowledge for Development Program (K4D) 2006

  16. Policy Lessons • Pivotal Role of Government • Strong government leadership • Role evolved over time together with needs of economy • Top-down and Bottom-up approach • Necessary to build national consensus Knowledge for Development Program (K4D) 2006

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