KBE frameworks and their applicability to a resource-based country: The case of Brunei Darussalam

Afzal, Munshi Naser Ibne and Lawrey, Roger (2012) KBE frameworks and their applicability to a resource-based country: The case of Brunei Darussalam. Asian Social Science, 8 (7). pp. 208-218. ISSN 1911-2017

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Abstract

Knowledge is generally considered to be one of the most important drivers of economic growth. The difference between a knowledge-based economy (KBE) and a resource-based one is that in the former, the main competition between individuals, firms, and countries is the ability to innovate. Other forms of competition, for example through pricing strategies and access to resources, become secondary. Generally, knowledge is information combined with technology that dramatically increases its impact when shared. Organizations such as the Organization for Economic Cooperation and Development (OECD), Asia Pacific Economic Cooperation Forum (APEC), Australian Bureau of Statistics (ABS) and the World Bank Institute (WBI) have developed different KBE frameworks to indicate the extent of countries' knowledge base and implicitly to guide policy. But these frameworks have little in theoretical underpinnings and applying them universally across all countries in different regions, at different stages of development and with different institutional, social and economic characteristics may be misleading and result in inappropriate policy responses. In this paper we propose a framework that clearly distinguishes input-output indicators of a knowledge-based economy under four important dimensions: knowledge acquisition, knowledge production, knowledge distribution and knowledge utilization, and attempt to adapt them in a practical policy oriented approach for an economy like Brunei Darussalam, which is attempting to transform from a resource-based to a knowledge-based economy.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Creative Commons License: This work is licensed under a Creative Commons Attribution 3.0 License (http://creativecommons.org/licenses/by/3.0/).
Depositing User: Prof Roger Lawrey
Faculty / Department / School: Historic - Faculty of Business and Law - School of Accounting, Economics and Finance
Date Deposited: 11 Dec 2012 12:14
Last Modified: 11 Jun 2014 01:15
Uncontrolled Keywords: KBE frameworks; policy focus framework; input-output indicators; knowledge dimensions; Brunei
Fields of Research (FOR2008): 15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150301 Business Information Management (incl. Records, Knowledge and Information Management, and Intelligence)
14 Economics > 1402 Applied Economics > 140202 Economic Development and Growth
16 Studies in Human Society > 1605 Policy and Administration > 160505 Economic Development Policy
Socio-Economic Objective (SEO2008): B Economic Development > 91 Economic Framework > 9104 Management and Productivity > 910406 Technological and Organisational Innovation
Identification Number or DOI: doi: 10.5539/ass.v8n7p208
URI: http://eprints.usq.edu.au/id/eprint/22460

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