Kuwait’s readiness for the knowledge-based economy: an exploratory study

Bibi M. Alajmi

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: The small city-state of Kuwait has undergone marked change over the last century. However, despite the significant transformations within its political economy, Kuwait’s socioeconomic needs require attention. This is essential, considering Kuwait’s current attempt to transform into a knowledge-based economy (KBE), a central component of Kuwait’s Vision 2035 and at the top of the country’s policy agenda. Kuwait’s attempt to diversify its resources requires significant reform in KBE’s four main pillars: effective investment in education, constructing robust and innovative tertiary sector capabilities, modernising the information technology infrastructure, and having an economic environment that is conducive to maximum development. And while Kuwait increasingly invests in ICT infrastructure and a welcoming economic environment, education and innovation seem to lag. This research aims to address the increased demand for academically based explorations of Kuwait’s attempts to transfer to a knowledge-based economy and present a comprehensive analysis of Kuwait’s Vision 2035, with emphasis on how the country aims to develop its education and innovation pillars to aid diversification efforts. By involving the relevant participants (e.g., government ministries and higher education institutions), this research seeks to inform policy debates by proposing actionable policies targeting education and innovation and, thus, defines concrete steps to strengthen the KBE in Kuwait.

JEL-codes: J1 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2023-11-01
New Economics Papers: this item is included in nep-ara and nep-knm
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