The Impact of Knowledge-Based Economy on Growth Performance: Evidence from MENA Countries

Sajad Barkhordari (), Maryam Fattahi and Naser Ali Azimi
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Maryam Fattahi: Tarbiat Modares University
Naser Ali Azimi: National Research Institute for Science Policy (NRISP)

Journal of the Knowledge Economy, 2019, vol. 10, issue 3, No 14, 1168-1182

Abstract: Abstract The aim of this paper is to examine the empirical relationship between the knowledge-based economy and economic growth in MENA countries. We are interested in identifying pillars linked with the transition to a knowledge-based economy that is related to growth performance. We used a growth model in Barro and Sala-i-Martin framework (1995) for the period of 2010–2015. It includes a panel data set that consisted the annual economic growth rate for selected MENA countries and, within the theoretical and empirical framework, applied the four indicators used for identifying the situation of the knowledge-based economy. The empirical results obtained using the generalized method of moments dynamic panel indicates institutions, human capital and research, infrastructure, and business sophistication to be the pillars of knowledge-based economy that influence a significant and positive economic growth in MENA countries. We suggest that governments in this region should consider the knowledge-related policies for accelerating transiting to the knowledge-based economy and improving economic performance.

Keywords: Convergence; Dynamic panel; Generalized method of moments; Growth performance; Knowledge-based economy; MENA region; C33; O38; O57; P41 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (24)

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DOI: 10.1007/s13132-018-0522-4

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