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The Role of Knowledge Economy in African Business

Vanessa Tchamyou ()

Journal of the Knowledge Economy, 2017, vol. 8, issue 4, 1189-1228

Abstract: Abstract This paper assesses the role of knowledge economy (KE) in African business in 53 countries for the period 1996–2010. The four KE components of the World Bank are employed, notably: education, innovation, economic incentives and institutional regime, and information and communication technology. The business indicators are classified into starting, doing, and ending business. Principal component analysis and panel instrumental variable fixed effect approaches are employed as empirical strategies. The findings which are broadly consistent with intuition and the predictions of economic theory suggest that KE policies will substantially boost the starting and doing of business in Africa. This is relevant in fighting unemployment and improving African competitiveness in global value chains. Policy implications for the relevance of each specific KE dimension in African business are discussed with particular emphasis on the theoretical underpinnings of the study. The investigation is original in its contribution at the same time to the scarce literature on African KE and the growing challenges of improving the business climate of the continent by means of KE.

Keywords: Knowledge economy; Doing business; Development; Africa (search for similar items in EconPapers)
JEL-codes: L59 O10 O30 O20 O55 (search for similar items in EconPapers)
Date: 2017
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Working Paper: The Role of Knowledge Economy in African Business (2015) Downloads
Working Paper: The Role of Knowledge Economy in African Business (2014) Downloads
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Handle: RePEc:spr:jknowl:v:8:y:2017:i:4:d:10.1007_s13132-016-0417-1