Transition to knowledge-based economy in Saudi Arabia

Journal of the Knowledge Economy, 2021

In 2002, Jordan sought to shift towards a knowledge economy through the adoption of several policies supporting the transition towards a knowledge economy. The current study aims to evaluate the transition process as Jordan moves towards knowledge economy. Majority of the indicators presented in this study showed regression, despite some important steps taken by Jordan. The results showed a noticeable decline in the knowledge economy indicators in Jordan and also that Jordan is going through difficult economic conditions on account of minimal global support. The pace of the transition towards the knowledge economy has been greatly affected by deteriorated economic situations of Jordan. However, Jordan has been able to obtain some positive indicators with respect to human capital and creativity, and these endorse the significance of investing in human capital, reviewing the law and legal system, and education policies in Jordan. These results provide a guideline to Jordanian authorit...

Journal of the Knowledge Economy, 2016

This paper assesses the performance of Qatar and the United Arab Emirates (UAE) in terms of their achievements towards becoming knowledge-based economies. This is done through a comparison against 17 benchmark countries using a four pillars' framework comprising (1) information and communication technology, (2) education, (3) innovation, and (4) economy and regime. Results indicate that the UAE ranks slightly better than the median rank of the 19 compared countries while Qatar ranks somewhat below. Results also indicate that both countries lag considerably behind knowledge economy leaders, particularly evidenced in the innovation pillar. Policy recommendations are mainly addressed at further developing the two countries' research culture as well as improving the incentives to attract top quality researchers and highly talented workers.

2016

The rulers of the Arabian Gulf States are facing hard times as a result of the current low oil prices. Despite four decades of political emphasis on economic diversification, these states continue to be heavily dependent on the revenues originating from the sales of oil and gas. The current collapse of oil prices has spurred new life into the diversification effort, but now in the form of an emphasis on transforming their countries into ‘Knowledge economies.’

2020

This study aims to analyze the impact of some indicators of knowledge economy on economic growth in Saudi Arabia. Using a Vector Auto Regression (VAR) estimation of a dynamic model over the period of 1992-2018, we included a time series data set that consisted the annual economic growth rate for Saudi Arabia within the theoretical and empirical framework, applied to four indicators used for identifying the situation of the knowledge-based economy. The empirical results obtained showed that "Education and Human Resources" are the most important pillar that has a crucial impact on economic growth. These findings reinforce the policy maker’s decision to shift the Saudi economy toward economic diversification and not just rely on oil resource.

International Journal of Academic Research in Economics and Management Sciences, 2021

Over the past ten years, Arab Gulf countries have made it an explicit aim to transform their economies into a knowledge-based economy. Now the knowledge economies have expanded and become more essential for Arab Gulf states. It had become a strategic vision and plans for economic diversification. This paper aims to analyse the impact of knowledge-based economy on economic development in Arabic Gulf countries over the 1980-2015 period. This study employed a wide variety of dimensional index approach to a knowledge-based economy. The data allowed us to evaluate the impact of knowledge on economic growth extensively. Panel time series method was employed to analyse the role of knowledge-based economy on economic development, using the long-run FLOMS, DOLS and PMG regression analysis. This study found that three knowledge-based economy criteria, education, information and communication technology (ICT) and innovation, significantly influence Arabic Gulf countries' economic growth. The findings are useful for the regulators in the Gulf countries as input for their effort to create an economic environment conducive to enhancing the level of knowledge and, hence, economic growth.

Journal of the Knowledge Economy, 2013

This paper employs both the descriptive and comparative approaches and uses the definition of knowledge and knowledge indicators used in the literature to examine the existence and development of the knowledge economy in the Arab region. We fill the gap in the Arab literature and present a more comprehensive analysis of the development of knowledge indicators in the Arab region. Our findings support the first hypothesis that the knowledge economy exists in the Arab region and coincides with a substantial knowledge gap compared to other world regions. Our results corroborate the second hypothesis concerning the variation in knowledge indicators, according to the structure of the economy in the Arab region, and support the third hypothesis concerning the poor and slow progress in the trend of knowledge-related indicators in the Arab region. Therefore, it is essential for the Arab region to enhance the knowledge economy and indicators to achieve economic development in the Arab region.

Knowledge is the key factor determinant for a country's best value creation and competitiveness, whereas traditional factors of production, such as land and labor, remain important. The economy of a country is directly based on the production, distribution and use of knowledge and information. The knowledge economy is measured with four measures, education, innovation, ICT, economic and institutional regime. Kingdom of Bahrain states in its Vision 2030 that it will transform Bahrain as knowledge based economy. Therefore, there is a need to assess the present status and to develop viable actions to be taken to strategize the Bahrain Vision 2030 that is to make Bahrain knowledge based economy. This paper reviews the definition and indicators of knowledge based economy, and the status of Bahrain as a knowledge based economy. An attempt is made here to develop a framework for strategy making to make Bahrain a full-fledged knowledge economy.

MPRA Paper, 2011

This presentation is based on an article that won best academic paper at the 2012 Arabian Society for Human Resources Management Annual Conference. This presentation traces the evolution of knowledge-based economic development in the Arab World. In pursuing this objective, many countries in the region have made large state-driven human capital investments with the goals of job creation, economic integration, economic diversification, environmental sustainability, and social development. An assessment of the effectiveness of Arab investments in human capital shows marginal progress towards knowledge-based development over the last decade. A disconnect between the skills developed in Arab skills formation systems and those required by private sector employers relegates Arab businesses to contesting lower-skilled, non-knowledge intensive industries which has stalled knowledge-based development in the region.

European Journal of Business and Management, 2017

The Gulf Cooperation Council (GCC) member states are transitioning into a knowledge-based economy. The methodology use in this paper is secondary data obtained from difference sources. Descriptive and comprehensive approach have been applied. The OECD definition of knowledge economy and the World Bank Knowledge Index (KI) and Knowledge Economy Index (KEI), and Arab Knowledge Economy Index (AKEI) and other indicators are the international literature that is used to examine current and progress made by GCC member states to transition to the knowledge economy. The role of research in the knowledge economy is vital for the transformation process into knowledge economy within GCC member states. According to Dr Mona “no research, no knowledge economy”. Natural resources of which GCC countries are endowed with are abundance especially oil and gas are plumbing typically from $140 to $30 or $40. There is growing effort by all countries globally to move toward green energy technology which i...

Heliyon

This paper is part of a project that aims to conceptualize the knowledge economy (KE) in the Saudi context, focusing on gender in relation to education, employment, human development index, innovation, and ICT. It uses a quantitative methodology. However, the used data is secondary data collected from different government and non-government sources. Different statistical analysis methods were conducted including descriptive statistics, graphs, correlation, and trend analysis. The paper found that despite the importance placed on KE and women empowerment (Saudi Vision, 2030), gender discrepancies were observed in relation to employment, innovation and ICT. Those components, according to our data, are positively correlated with the current Saudi ranking under KEI. The paper shows that although the rate of female graduates from higher education is slightly higher than male, this difference was not translated into participation in the labor market, particularly in jobs related to KE. It was also found that though Saudi Arabia's ranking under innovation and ICT was internationally low, there was a lack of public information regarding the gender dimension. This suggests that gender was not understood as a crucial factor in improving the country's ranking under those components. The paper concludes by highlighting the national innovation system's shortfalls as reflected by education, patents, and innovation. It suggests further investigations into utilizing women under jobs related to KE and calls for including the gender dimension as a variable in any future planning or studies related to the knowledge economy.

Contemporary Arab Affairs, 2016

In the 21st century, knowledge has come to be counted as the new primary delimiter in balances of power in the global system and the decisive factor within it, meaning that power and political authority have come to be tied to the production of knowledge and the capability to use it creatively. The process of transformation towards the stage of a new economy demands assessment and development of four primary focal points in a knowledge economy and these are education and training, infrastructure for information, economic incentives, an institutional system, and a system of innovation. The Arab countries are orienting towards a knowledge economy by improving their educational sectors via the adoption of modern techniques and investment in technological, information and communications infrastructure, and by depending upon robust programmes of research and development, while improving the business environment and that of workers in general. This article focuses on the process of transf...

Proceeding of the 3rd International Conference on Information and Communication Technology for the Moslem World (ICT4M) 2010, Jakarta, Indonesia, 2010, pp. B-1-B-7., 2010

In recent years, the role that knowledge plays in the development of nations has been widely debated in the literature. Not only knowledge has been viewed as an important factor of production, but also as an important source of wealth. As a consequence, the challenges facing nations today, including Muslim countries, are measured in their capabilities to absorb, apply and create knowledge. The aim of this paper is to highlight the importance of building a knowledge-based economy in Bahrain. In recent years, the government of Bahrain has been making efforts to convert its economy into a knowledge-based economy by introducing reforms in such areas as trade, finance, education, skills and Information and Communication Technology (ICT). Also, the ICT industry in Bahrain has been growing rapidly which is important for building a knowledge society. Recently, Bahrain has gained number one status in the Arab World for ICT services, especially e-government.

BAU Journal - Creative Sustainable Development, 2022

Despite the mounting importance of the knowledge economy in diversifying Arab economies, the knowledge transition in these countries is still in its early stages, with a long road ahead. The study's main aim is to examine the role of the knowledge economy in economic growth and to recognize the most influential knowledge pillar for a sample of 11 Arab countries during the period 2000-2020, namely:

The Arab Center for Research and Policy Studies is an independent research institute and think tank for the study of history and social sciences, with particular emphasis on the applied social sciences.

2013