Abstract
The main challenge of natural resource-rich economies is to avoid the resource curse, poor economic growth, weak institutions and corruption through the development of state program, tended to the development of knowledge-based economy. This research evaluates the productivity of the gross regional product in the context of knowledge-based economy indicators taking into account industrial structure and specialization in regional economic. The focus is on the Republic of Kazakhstan as representative of the oil-exported countries. The feature selection analysis was implemented through a panel regression model and in the aim of evaluation of knowledge-based performance of state measures was used Malmquist Productivity Index in DEA. The data set of the research is obtained from the official statistical data of state structures during the period from 2007 to 2017 for the regions of Kazakhstan.
Highlights
In recent years a knowledge economy has become a key issue in policy discussions on economic growth, globalization, and economic restructuring
The findings show that foreign direct investment (FDI) and information and communication technologies (ICT) investment have a positive and significant effect on total productivity growth
Science and knowledge workers: Number of organizations engaged in research and development (NOinR&D); Number of employees engaged in research and development (NER&D); The share of workers employed in high-tech industries (SWHT); D
Summary
In recent years a knowledge economy has become a key issue in policy discussions on economic growth, globalization, and economic restructuring. The governments of developed and developing countries are engaged in a continuous search for the policies that promote essential elements manifested by the knowledge economy, namely education and training; information and communication technologies; research and development, and innovation, as well as conducive governance and regulatory regimes. It is quite important for oil-exporting countries, which strongly depend on revenues from oil prices. This means that these countries are faced with different economic consequences that low oil prices may have in their economy and political stability. Kazakhstan is rich in natural resources including coal, oil, natural gas and uranium and has significant renewable potential from wind, solar, hydro-power and biomass (Kozhakhmetova et al, 2019)
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