tailieunhanh - Knowledge economy: Analytical framework and policy implications for Vietnam

The paper presents an analytical framework and indicators measuring progress of the knowledge economy according to the knowledge assessment methodology introduced by the World Bank. Estimations of Vietnam’s progress to the knowledge economy show that Vietnam has made great efforts to build the knowledge economy, especially by developing information and communication technologies. | 20 | Nguyễn Trọng Hoài | 20 - 33 Knowledge Economy: Analytical Framework and Policy Implications for Vietnam NGUYỄN TRỌNG HOÀI University of Economics HCMC Email: hoaianh@ ARTICLE INFO Article history: Received: June 05, 2013 Received in revised form July 11, 2013 Accepted: Dec. 31, 2013 Keywords: knowledge economy, creative innovation, science technology. ABSTRACT The paper presents an analytical framework and indicators measuring progress of the knowledge economy according to the knowledge assessment methodology introduced by the World Bank. Estimations of Vietnam’s progress to the knowledge economy show that Vietnam has made great efforts to build the knowledge economy, especially by developing information and communication technologies. However, the gap between Vietnam’s knowledge economy and other economies in Asia as well as the world is still wide, especially in such pillars as institutional regime, education, and development of innovation. Vietnam, therefore, should adopt uniform policies on an overall and profound reform in education and technology and in administrative machinery to accelerate the development of knowledge economy. Analytical Framework and Policy Implications JED January 2014| 21 1. THE KNOWLEDGE CONOMY In the knowledge economy, according to DTI (1998), creating and using knowledge are crucial in the process of creating physical assets. This is not only an effort to surpass existing knowledge, but also an efficient use of all kinds of knowledge in the economic activities. Powell & Snellman (2004) suppose that the knowledge economy is “based on knowledge-intensive activities that contribute to an accelerated pace of technical and scientific advance, as well as rapid obsolescence. The key component of a knowledge economy is a greater reliance on intellectual capabilities than on physical inputs or natural resources.” Suh & Chen (2007) define a knowledge economy as “one that used knowledge as the key engine of .

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