The race towards a knowledge based economy: a comparative study between Malaysia and Thailand
This paper has attempted to study the development and growth of a knowledge based economy in two developing countries, namely Malaysia and Thailand. A summary of different economic theories states that the best theoretical grounding for a knowledge based economy is the endogenous growth theory. Th...
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| Format: | Article |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | https://repository.li.mahidol.ac.th/handle/123456789/10482 |
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| Institution: | Mahidol University |
| Language: | English |
| Summary: | This paper has attempted to study the development and growth of a knowledge
based economy in two developing countries, namely Malaysia and Thailand. A summary of different economic theories states that the best theoretical grounding for a knowledge based economy is the endogenous growth theory.
The conceptual framework established for statistically measuring the success of knowledge-based economy (KBE) comprise of the following variables: 1). Innovation, 2). Information and communication technology, 3). Development and 4). Business Environment. Recommended additions to the framework were
proposed in this paper based on integrating the following variables: 1). Government incentives, 2). Better human capital, and 3). Institutional factors. The last section of the paper proposes policy recommendations and conclusions. |
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