Formation and development of the knowledge economy as a precondition for the country's competitiveness

Andriy Karakuts () and Valeriya Podunay ()
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Andriy Karakuts: Donetsk National University
Valeriya Podunay: Donetsk National University

No 1004011, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

Abstract: The paper considers the interdependence between the formation of the country's economy based on knowledge, its competitiveness and pace of economic development. Shows the ranking of countries in the Global Competitiveness Index and the indices that characterize the knowledge economy. On the basis of a comparative analysis concluded that the country's competitiveness level depends on scientific and technological development, and the states leading the global innovation space were singled out. With the help of comparative analysis of positioning on the index of the knowledge economy and knowledge index makes it possible to distinguish knowledge exporting countries and knowledge importing countries. A cluster analysis made it possible to establish that the orientation of the economy more towards the production and export of knowledge leads to the acceleration of economic growth and competitiveness, and to identify the tendency of increasing of the share of exporting knowledge countries. This paper uses a methodology of World Economic Forum for assessing the country's competitiveness index, the World Bank methodology expertise of knowledge economy and other methodologies to assess the level of innovation development of economy of the world.

Keywords: competitiveness; economic development; knowledge economy; innovation; research and technological development. (search for similar items in EconPapers)
JEL-codes: A14 O33 R11 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2015-05
New Economics Papers: this item is included in nep-cse and nep-knm
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Published in Proceedings of the Proceedings of the 15th International Academic Conference, Rome, May 2015, pages 534-544

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Persistent link: https://EconPapers.repec.org/RePEc:sek:iacpro:1004011

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