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Knowledge Economy Gaps, Policy Syndromes and Catch-up Strategies: Fresh South Korean Lessons to Africa

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  • Asongu, Simplice A

Abstract

Africa’s overall knowledge index fell between 2000 and 2009. South Korea’s economic miracle is largely due to a knowledge-based development strategy that holds valuable lessons for African countries in their current pursuit towards knowledge economies. Using updated data (1996-2010), this paper presents fresh South Korean lessons to Africa by assessing the knowledge economy (KE) gaps, deriving policy syndromes and providing catch-up strategies. The 53 African frontier countries are decomposed into fundamental characteristics of wealth, legal origins, regional proximity, oil-exporting, political stability and landlockedness. The World Bank’s four KE components are used: education, innovation, information & communication technology (ICT) and economic incentives & institutional regime. Absolute beta and sigma convergence techniques are employed as empirical strategies. With the exception of ICT for which catch-up is not very apparent, in increasing order it is visible in: innovation, economic incentives, education and institutional regime. The speed of catch-up varies between 8.66% and 30.00% per annum with respective time to full or 100% catch-up of 34.64 years and 10 years. Based on the trends and dynamics in the KE gaps, policy syndromes and compelling catch-up strategies are discussed. Issues standing on the way to KE in Africa are dissected with great acuteness before South Korean relevant solutions are provided. The paper is original in its provision of practical policy initiatives drawn from the Korean experience to African countries embarking on a transition to KE.

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  • Asongu, Simplice A, 2014. "Knowledge Economy Gaps, Policy Syndromes and Catch-up Strategies: Fresh South Korean Lessons to Africa," MPRA Paper 58758, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:58758
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    13. Simplice A. Asongu & Jacinta C. Nwachukwu, 2016. "A Brief Future of Time in the Monopoly of Scientific Knowledge," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 58(4), pages 638-671, December.
    14. Asongu Simplice & Andrés Antonio, 2014. "Global trajectories, dynamics, and tendencies of business software piracy: benchmarking IPRs harmonization," Working Papers of the African Governance and Development Institute. 14/011, African Governance and Development Institute..
    15. Simplice A. Asongu & Jacinta C. Nwachukwu, 2016. "Rational Asymmetric Development, Piketty and Poverty in Africa," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 13(2), pages 221-246, December.
    16. Simplice Asongu, 2015. "Rational Asymmetric Development, Piketty and the Spirit of Poverty in Africa," Working Papers of the African Governance and Development Institute. 15/006, African Governance and Development Institute..
    17. Simplice A. Asongu, 2017. "Boosting Scientific Publications in Africa: Which IPRs Protection Channels Matter?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(1), pages 197-210, March.
    18. Asongu, Simplice A. & Nwachukwu, Jacinta C., 2016. "The Mobile Phone in the Diffusion of Knowledge for Institutional Quality in Sub-Saharan Africa," World Development, Elsevier, vol. 86(C), pages 133-147.
    19. Voxi Amvilah & Simplice Anutechia Asongu & Antonio Andrés, 2014. "Globalization, Peace & Stability, Governance, and Knowledge Economy," AAYE Policy Research Working Paper Series 14_024, Association of African Young Economists, revised Dec 2014.
    20. Simplice Asongu & Christelle Meniago, 2018. "Technology and persistence in global software piracy," Netnomics, Springer, vol. 19(1), pages 43-63, October.

    More about this item

    Keywords

    Knowledge economy; Catch-up; South Korea; Africa;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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