Abstract
This paper highlights on the emerging issues that compelled Saudi Arabia in transforming its economy to a knowledge-based one. It discusses the pillars of a knowledge-based economy i.e. the institutional model; education; research and development (R&D); and information and communication technology (ICT) adopted by the World Bank Institute framework to analyze the status of a knowledge-based economy in Saudi Arabia. The primary objective of this article is to understand the status of the knowledgebased economy in the Kingdom of Saudi Arabia. Secondary data was collected for writing the paper. The nine developmental plans of Saudi Arabia (Ministry of Economy and Planning), Ministry of Education reports, Ministry of Communications and Information Technology reports, and Saudi Arabian Monetary Agency (SAMA) reports are some of the important sources of data. The government of Saudi Arabia has laid the foundation for transforming its economy to a knowledge-based one but more is required especially in the field of human resource development and innovation to expedite the easiness of the transforming process.
Keywords
- Knowledge-Based Economy Search this journal for Knowledge-Based Economy (opens in a new tab)
- Five Year Developmental Plans Search this journal for Five Year Developmental Plans (opens in a new tab)
- Saudi Arabia Search this journal for Saudi Arabia (opens in a new tab)
- Education Search this journal for Education (opens in a new tab)
- Research and Development Search this journal for Research and Development (opens in a new tab)
References
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Copyright (c) 2013 Omar Salem Bashehab, Sanghamitra Buddhapriya (Author)
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Keywords
- Knowledge-Based Economy Search this journal for Knowledge-Based Economy (opens in a new tab)
- Five Year Developmental Plans Search this journal for Five Year Developmental Plans (opens in a new tab)
- Saudi Arabia Search this journal for Saudi Arabia (opens in a new tab)
- Education Search this journal for Education (opens in a new tab)
- Research and Development Search this journal for Research and Development (opens in a new tab)
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