Linking ICT to the development of knowledge-based economy pillars

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Citation (Scopus)

Abstract

Information and communications technology (ICT) is one of the main pillars of knowledge-based economy, according to the World Bank, and it is a prerequisite for economic growth. This study aims to link ICT to the development of knowledge-based economy and its main pillars. Several studies have theoretically illustrated the role of ICT in the development of knowledge-based economy, but the literature lacks empirical detailed investigations. ICT can provide a major support for the development of knowledge-based economy and the other three pillars: the economic and institutional regime, education and skills, and the innovation systems. ICT is the backbone of knowledge-based economy and imperative for its development. The World Bank measures the ICT index based on telephones, computers and Internet users. A dynamic information infrastructure is needed to facilitate effective communication, dissemination and processing of information and knowledge. Several international reports have highlighted the power of knowledge for any national economy. Also, ICT can play a major role on developing people's education and skills, a major pillar of the knowledge economy. Furthermore, ICT can play a major role on innovation. The information technologies market, which includes hardware and software, is by itself a rich market for innovation and the production of new products. Additionally, ICT facilitates innovation in other fields. Based on the analysis of the World Bank data of knowledge economy (KE) indices of worldwide countries in 1995, 2000 and 2012, this study detected significant associations between ICT and knowledge economy pillars in these years; hence it plays a significant role in the development of knowledge-based economy and its pillars. Also, findings indicate that (1) even though the ICT pillar is not the most significant one in the field, its significance level has increased from 1995 to 2012; (2) the ICT pillar has been the most significant factor throughout on innovation pillar in all of the years studied and (3) the ICT pillar is the only one that has been consistently significant and a positive factor in knowledge economy and each of the economy pillars. These findings can inspire less-developed countries to further develop their knowledge economy through ICT.

Original languageEnglish
Title of host publicationProceedings of the 15th European Conference on Knowledge Management, ECKM 2014
PublisherAcademic Conferences Limited
Pages15-21
Number of pages7
Volume1
ISBN (Electronic)9781910309346, 9781910309346, 9781910309353
ISBN (Print)9781910309346
Publication statusPublished - 2014
EventProceedings of the 15th European Conference on Knowledge Management, ECKM 2014 - Santarem, Portugal
Duration: Sep 4 2014Sep 5 2014

Other

OtherProceedings of the 15th European Conference on Knowledge Management, ECKM 2014
CountryPortugal
CitySantarem
Period9/4/149/5/14

Fingerprint

Information and communication technology
Knowledge-based economy
Knowledge economy
World Bank
Innovation
Education
Factors
Innovation system
World Wide Web
Empirical investigation
New products
Economics
Communication
Telephone
Software
Less developed countries
Dissemination
Economic growth
National economy
Information infrastructure

Keywords

  • Ict
  • Information and communications technologies
  • Knowledge economy
  • Knowledge-based economy

ASJC Scopus subject areas

  • Information Systems and Management
  • Management Science and Operations Research

Cite this

Al-Busaidi, K. A. (2014). Linking ICT to the development of knowledge-based economy pillars. In Proceedings of the 15th European Conference on Knowledge Management, ECKM 2014 (Vol. 1, pp. 15-21). Academic Conferences Limited.

Linking ICT to the development of knowledge-based economy pillars. / Al-Busaidi, Kamla Ali.

Proceedings of the 15th European Conference on Knowledge Management, ECKM 2014. Vol. 1 Academic Conferences Limited, 2014. p. 15-21.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Al-Busaidi, KA 2014, Linking ICT to the development of knowledge-based economy pillars. in Proceedings of the 15th European Conference on Knowledge Management, ECKM 2014. vol. 1, Academic Conferences Limited, pp. 15-21, Proceedings of the 15th European Conference on Knowledge Management, ECKM 2014, Santarem, Portugal, 9/4/14.
Al-Busaidi KA. Linking ICT to the development of knowledge-based economy pillars. In Proceedings of the 15th European Conference on Knowledge Management, ECKM 2014. Vol. 1. Academic Conferences Limited. 2014. p. 15-21
Al-Busaidi, Kamla Ali. / Linking ICT to the development of knowledge-based economy pillars. Proceedings of the 15th European Conference on Knowledge Management, ECKM 2014. Vol. 1 Academic Conferences Limited, 2014. pp. 15-21
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