Generalized Knowledge Index: The Production, and Imputed Gross Future and Present Values of Doctoral Dissertations across Some African Countries

The notion that lack of knowledge undermines the economic performance of African countries is deeply and widely held to be true. Yet evidence for the basis of that truth is few and far in-between. This paper first describes a production function approach to the creation of knowledge of African countries in terms of a relative and indirect measure of the quantity of dissertations. Second, the paper assesses the imputed gross future and present values of knowledge of the same group of countries. In the first instance it finds that relative income, population, and openness to the outside world are central to the production of knowledge of African countries. In the second instance, the imputed gross future and preset values of knowledge are positive, but of modest magnitude. The policy implications of the results recommend more investment in the production of knowledge of African countries, improved trade and therefore openness, and especially reduced opportunity cost of knowledge creation which now differs widely across countries, and averages 10.7%. For further research the results suggest that dissertations may be useful proxies for human capital in economic growth regressions.