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Trajectories of knowledge economy in SSA and MENA countries
Affiliation:1. Department of Finance, University of Cape Town, Cape Town, South Africa;2. VŠB – Technical University of Ostrava, Department of National Economy, Faculty of Economics, Sokolská třída 2416/33, 702 00 Ostrava, Czech Republic
Abstract:In the first critical assessment of knowledge economy dynamic paths in Africa and the Middle East, but for a few exceptions, we find overwhelming support for diminishing cross-country disparities in knowledge-based economy dimensions. The paper employs all the four components of the World Bank's Knowledge Economy Index (KEI): economic incentives, innovation, education, and information infrastructure. The main finding suggests that sub-Saharan African (SSA) and the Middle East and North African (MENA) countries with low levels of KE dynamics and catching-up their counterparts of higher KE levels. We provide the speeds of integration and time necessary to achieve full (100%) integration. Policy implications are also discussed.
Keywords:Knowledge economy  Principal component analysis  Panel data  Convergence  Development  F42  O10  O38  O57  P00
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