Designing a Knowledge-based Economy Model to Achieve Knowledge-based Development

Abstract

Purpose: The Purpose of this study is to construct a model that identifies the components of the knowledge-based economy in order to promote its development through insights from experts.Methodology: This qualitative research employs a thematic analysis approach with a focus on professors, experts, and individuals knowledgeable about the subject. A total of 52 participants were selected using purposeful sampling and data was collected through semi-structured interviews.Findings: Initially, 1,535 codes were extracted, leading to 353 codes in the subsequent stage, and further refined to 42 secondary codes during the central coding phase. Ultimately, nine main codes were derived in the selective coding stage.Conclusion: Emphasizing the importance of a knowledge-based economy can enhance productivity, foster economic prosperity, and facilitate the creation and growth of knowledge-based enterprises. Such emphasis can also boost competitiveness, innovation, and success in global markets, ultimately leading to improved standards of living and sustainable development.Value: This research offers insight into the role of a knowledge-based economy in driving knowledge-based development within the country.

Keywords

• knowledge-based development
• knowledge-based economy
• knowledge and technology policy-making
• smart businesses
• knowledge markets